ExpertLaw.com Forums

Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy

Printable View

  • 01-16-2013, 08:52 AM
    johnb123
    Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    My question involves bankruptcy in the state of: CA I don't have any student loans, but I saw a question on the issue. If you have a student loan, which cannot be erased in bankruptcy, and you pay it off with a credit card.....make payments for 6 months to a year...and then file for bankruptcy.....could you do that and what would be any problems associated with it?
  • 01-16-2013, 10:01 AM
    aardvarc
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    The credit card company can challenge in court that this action was pre-planned (aka fraudulent) - at which point the bankruptcy may be be denied by the court, AND criminal charges possible. Judges, courts, credit card companies aren't stupid - this is exactly the type of thing they LOOK for in bankruptcies.
  • 01-16-2013, 05:21 PM
    johnb123
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    This is why I don't understand people taking out student loans. Why don't they just use a credit card to begin with or get a personal loan? I would never take out a student loan.
  • 01-16-2013, 06:09 PM
    free9man
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    Because you don't have to pay a student loan back immediately like you do a CC. You could spread the CC payments out, but it would be unwise with the ridiculous interest rates. Plus interest rates on SL are normally much smaller than CC.
  • 01-16-2013, 06:15 PM
    Mr. Knowitall
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    It's a bit unusual for somebody with large student loan debts who also qualifies for bankruptcy to have enough capacity on a credit card to pay off her student loans. If you don't qualify for Chapter 7, you still end up paying pack part (and sometimes all) of your debts over the course of your repayment plan. If this is a serious question, not just "pie in the sky", flesh it out a bit.
  • 01-16-2013, 06:20 PM
    Lehk
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    student loans are available to students with little or no credit history, no way in hell a broke student with no repayment history is going to qualify for 40k in personal loans, not without a lot of forged documents anyways
  • 01-16-2013, 07:19 PM
    johnb123
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    This is kind of off topic, but do students get all the money at once for student loans or do they pay each semester? How do you get in debt to $40,000 or more....is it all at once, or over each semester? Just trying to understand this issue.....I've never even looked at student loans. I paid each semester by credit card, when I did go to college.
  • 01-16-2013, 07:41 PM
    Vincentlyjd
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    answer: over each semester
  • 01-16-2013, 08:15 PM
    df04527
    Re: Can You Pay Off a Student Loan with a Credit Card and Later File Bankruptcy
    I have a neice who just became a doctor recently and her student loans are 200k+. Her husband firefighter/paramedic...50k+.... Adds up over six to 8 yrs of college.
All times are GMT -7. The time now is 03:52 PM.
Powered by vBulletin® Version 4.2.4
Copyright © 2023 vBulletin Solutions, Inc. All rights reserved.
Copyright © 2004 - 2018 ExpertLaw.com, All Rights Reserved