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Do I Qualify for Bankruptcy on My Sallie Mae Private Student Loan

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  • 02-22-2013, 07:16 AM
    Mr. Knowitall
    Re: Do I Qualify for Bankruptcy on My Sallie Mae Private Student Loan
    Quote:

    Quoting DavidCB
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    Thanks for the laugh.. I forgot to mention I have a co-signer, so taking to the hills isn't an option. Thanks anyway.

    That debt is going to haunt your cosigner as well - and any amount you don't pay would fall on your cosigner. Ouch. I suspect that given the amounts involved it will be impossible for your cosigner to qualify for release, but that's something to explore.
    Quote:

    Quoting DavidCB
    Does any know if H.R. 4170 is a bill that is taken seriously by Congress? And if so, how long does it take to implement a bill if indeed it does pass?

    It's dead, although it's sponsor hopes to reintroduce the legislation in the current session of Congress.
  • 02-22-2013, 10:40 AM
    Disagreeable
    Re: Do I Qualify for Bankruptcy on My Sallie Mae Private Student Loan
    I expect OP won't be able to discharge either. OP has not been paying on them very long.
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