Can I take out a student loan while in Chapter 13 bankruptcy?
Maybe. It is possible to take out a student loan under chapter 13 bankruptcy protection. You would need to get permission from the court, which would require you to file a motion to incur debt. This can be complex and you do need to know bankruptcy law to do this and have both a factual and legal basis for doing so. I suggest speaking with a bankruptcy lawyer to make sure it’s done correctly.
It makes sense when you think about it—if your goal is to make sure the loan will be repaid, why wouldn't the lender want to make a deal with you? After all, if they don't lend money to those with sizeable assets, then their chances of getting repaid go down. The government has a rule which says that those who file for bankruptcy cannot be denied federal aid and other things they were receiving prior to filing. In other words, if you were eligible for a federal loan before filing bankruptcy but were not given one due to credit issues and so got one from another source instead, then that loan will not be forgiven just because you filed for bankruptcy.
Call this law firm for your free bankruptcy consultation.
Ascent Law LLC
8833 S Redwood Rd Ste C
West Jordan UT 84088
(801) 676-5506
https://www.ascentlawfirm.com/chapter-13-bankruptcy/
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