I would like to know the answer too. Anyone here know what is the answer. I'll do some investigation and get back to you if I discover an anything. You should email the people at Discover Card as they probably could answer your Discover Card question..

The why wasnt the other student loan marked as IIB. It is showing the updated information with payment reports and the balance due. The other loan however shows IIB Balance = 0...

One of the things I never did was check my credit after bankruptcy *yeah I know my bad* so I'm not sure how my student loans reported other then when I checked much later, they showed notation IIB and balance due. These were of course federal loans however I just continued making my normal payments after forbearance like I was suppose to.

Usually you still have a balance.. I'd defiantly call the student loan company in this instance and find out what's going on if my student loan showed zero balance.

Student loans are defiantly not something to mess with whether federal or private..

But the bottom line is... whether private or federal Student loans are not discharged and the OP has to continue making payments, or risk default. I just read the OPs question again, and they specifically ask if they have to continue making payments, and the answer is YES because Student loans are again NOT dishcarable..

This post has been edited by beli: 03 February 2010 - 11:22 AM..

Klesko,.

My information was based on my knowledge of the pre 2005 bk code. Beli is correct that is one of the changes that was made with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which took effect one month after I filed my bk. I had a private loan included in my bk for my husband which was discharged..

I would continue to make the payments on the loan or if it is causing you hardship, you can re-open your bk and file a motion. Here is an excerpt with the pertinent info:.

"Student loans cannot be included in a Chapter 7 bankruptcy, unless the filer can prove that making student loan payments would cause €œundue hardship€? on him or his family..

To be considered for the hardship exemption for repayment, you must file a separate motion with the bankruptcy court. You must then explain your hardship to the judge. In general, hardship may be granted only if:.

€You can prove that making your student loan payments would cause you to fall below a minimum standard of living..

€You can show that your financial difficulties will be long-term with little hope of improvement..

€You have made an effort in the past to repay your student loans..

In actuality, this exemption hardly ever is granted unless you have a physical condition that does not enable you to work, and if there is no chance that you will be able to find sufficient employment in the future. ".

It seems like a long shot to me. I apologize for the misinformation which was based on the old bk code...

I will keep making payments, it is the smaller loan of the two she has left but I was unaware of the 2005 law about private student loans.

Student loans not being dis chargeable is completely retarded if you ask me...

Well federal student loans were able to be dishcarged before 1975 I think? But there was a lot of abuse with it. People going to expensive schools, doctors/lawyers thinking they can get out of paying (with Discover card) back their loans and filed for bankruptcy, so that was the first leg of it when they initially changed bankruptcy law.

Then the 2nd wave of the reform was in 2005.

I think they should make it a bit easier to be discharged.. given the economy the way it is. I'm not even working in my initial degree which was legal secretary anymore, but that's another story. I do hope to eventually find something with my Ba which is a bit more broader -Business Administration Management..

This post has been edited by beli: 03 February 2010 - 11:39 AM..

How old are these SLs and who was the OC? Even with the 2005 law change for BK, some private SLs still have an SOL...

They are not old enough, the one in question was opened in 2005 and we paid on it until the BK was filed in 2009. I resumed payments once the BK was discharged...