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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17236
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I am a graduate student getting ready to move across the country

Resolved Question:

I am a graduate student getting ready to move across the country to start a new job. I recently filed for chapter 7 bankruptcy. My hearing is scheduled for May 24th. My question is does the income that I start making now have any effect on my case? Would a loan have the same effect? My main issue is that I need money to move across the country. I was thinking of taking out a private student loan, but they are based on your credit. So I would need to do it before my bankruptcy is finalized, but I was concerned that having that large lump sum sitting in my checking account would cause problems with my case.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
since you filed already it would not have an affect as student loans are not dischagreable, but if you are approved for the loan, they may not provide it to you as they will know a bankruptcy case if filed.
Customer: replied 7 years ago.
I'm still a little bit unclear what you mean by "since you filed already it would not have an affect as student loans are not dischagreable," I understand student loans are not discharagable. My question is whether having $4000 in my checking account from a loan before my hearing is a problem. What about if I had a rich uncle die and I had $40,000 in my checking account. Would none of it matter because it was after my file date?
Expert:  WALLSTREETESQ replied 7 years ago.
an inheritance is different than student loan money which is to be used for educational expenses, an inheritance is not exempt and must be disclosed. What I mean is the trustee cannot take student loan money from you to pay off your creditors, they can do this with a gift or inheritance.
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