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Posted in Student Loans
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Question By
Mky1230

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If I file bankruptcy will It prevent me from future student loans that I apply for in about 2 yrs?
Most of my debt is due to medical bills I have 5,000 debt in student loans

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Top Contributor
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Generally student loans are NOT dischargable in bankruptcy and remain collectable until they are paid, even if that means taking your income tax refunds and part of Social Security in the future, plus bankruptcy hurts your credit for ten years where the unpaid medical debts will hurt for 7.  Look into the statute of limitations for collections for your state.  You may be able to negotiate a pay for delete arrangement  or the debts may be uncollectable due to expiration of the SOL.  It helps to learn all you can about credit, which is one of the reasons why Credit Karma is here, and there are other sites that can provide additional knowledge to help.

Just don't be so eager to jump into bankruptcy, please.

Top Contributor
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If your student loans are Federal, then go to Student Loans dot gov and file an income based repayment plan or and income based consolidation application.  Totally free to do it yourself.  Once you plug in your information, they will tell you what your repayment options are.  It only takes a few minutes and well worth your time.  Hope this helps!

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