Posted on: 10th May, 2012 02:29 am
I am planning to file bankruptcy due to problems in my business and credit cards debts. My daughter is entering college, and thankfully she has been accepted into the honors program so I am only responsible for half tuition about $24,000. Last year we did not receive any financial aid, and I am wondering if since I am filing BK that will help or hinder our chances this year.
Hi Philomina,
I don't think your bankruptcy filing will in any way affect your daughter's chances in getting financial aid or student loans. However, your daughter may face difficulty in qualifying for parent plus student loans.
Take care
I don't think your bankruptcy filing will in any way affect your daughter's chances in getting financial aid or student loans. However, your daughter may face difficulty in qualifying for parent plus student loans.
Take care
Welcome Philomina,
I agree with Sara's viewpoint. As you have filed bankruptcy alone, it won't create any problem for your daughter's financial aid. The financial aid will be given to your daughter and will be issued in your daughter's name for educational purpose. So, the bankruptcy court won't be able to take it away from her.
I agree with Sara's viewpoint. As you have filed bankruptcy alone, it won't create any problem for your daughter's financial aid. The financial aid will be given to your daughter and will be issued in your daughter's name for educational purpose. So, the bankruptcy court won't be able to take it away from her.
The ways of debtor has to hire a debt settlement firm. Financial experts of the hired firm will negotiate on behalf of the debtor with the creditors. They will ask then to give reduction of half of the amount over the total outstanding amount to be paid. In case the creditors do not agree for debt settlement the financial gurus of the settlement firm threat that if they will not settle the debt then the debtor will file for bankruptcy.
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