Consolidating student loans after bankruptcy
But how does bankruptcy work and is it a smart decision?Bankruptcy is a court proceeding whereby a judge and a court trustee determine if your debts should be discharged because you can’t afford to pay them any longer.
If you feel like paying back your student loans is too much and you need help, then find a resource you trust and you’ll soon be able to get back on track.
For our purposes, we will be considering only full-time MBA programs in the United States.
College is a not-for-profit organization founded as the College Entrance Examination Board (CEEB) in 1900 to expand access to higher education.
You usually pay only some of your unsecured debts via the plan and the rest is discharged.
The law will give higher priority to certain debts meaning you have to pay those off first. This means that the lender will have to accept a plan in order for you to make up for payments that you missed. Also, you are able to “cram down” secured debts in which you owe more than what the property is worth.