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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I have two student loans, both private. I was going to file

Customer Question

I have two student loans, both private. I was going to file bankruptcy as I cannot pay these loans, however, private student loans do not apply. I have tried to pay these loans the best I could through deferment or what ever I could contribute towards both loans.
I have been divorced nd our home went into foreclosure. I have not been able to find a job for over a year now,
I have had to move back to my home town in toronto. My loans are in Illinois, totlling $60,000. (approx)
My question is if I let them g into collections, what will happen? Wht cn they take from me. I only own a car right now.
Also, if I get married, again can the collection agency come after my husband to be his pension or assets such as a home etc., if so what should I do to protect this from happening?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

You may want to consider a chapter 7 bankruptcy.

Some student loans may be discharged in a bankruptcy if they are not considered to be "qualified" student loans.

Only loans that satisy the requirements under 26 USC 221(d)(1) are considered a qualified education loan.

Here is an informaative article on the subject.

Thank you,
Customer: replied 6 years ago.
This does not help me at all, I already looked into a chaper 7 bankrupcy, nd the student lons don't apply, and I wnted to know what would happen if I did marry in Ontario, could my husband to be his assets/pension be seized
Expert:  Ellen replied 6 years ago.

Thank you for your question.

Your husband's assets and pension could not be attached for your debt. This is true in both the US and Canada.
Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 6 years ago.
What if he puts me in his will for the house and the beneficiary for the pension if he deceases?
My point in asking is that i do not want any thing to affect his assests and pension but he wants to put me in his will for the house and as stated above on his pension. How will this affect my situation, can they the student loans people, one of them being Salie Mae, and ACS come after those?
Expert:  Ellen replied 6 years ago.
in the event of your husband's death, the assets that you have inherited from him can be attached.
Customer: replied 6 years ago.
Ok, but if he puts me on his pension and the house together in our names and he is alive can they still come after that?
Expert:  Ellen replied 6 years ago.