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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2889
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Obtained a loan while at school of $20k in 2006/7 from bank

Customer Question

Anna obtained a loan while at school of $20k in 2006/7 from bank A. She paid some of it until dropping out of school and became delinquent in 2008. In 2009 bank A sold delinquent loam to bank B. Anna filed bankruptcy in 2010 and sent bk discharge to bank A not knowing it was sold to bank B.
Bank B hired collections agency AB to collect balance. AB negotiated loan down to 21.8k but is saying this is collectable despite the bk discharge.
My daughter needs to show a payment plan soon to a mortgage company who can close on a VA home loan this month.
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 1 year ago.

is this an educational loan or tuition? If not, then the debt should be discharged. send the discharge to B and AB and that should do it if it is not an educational debt

Expert:  Terry L. replied 1 year ago.

do you have any questions? if not, please click accept to close the questions and rate the answer. thanks

Customer: replied 1 year ago.
Hi the loan was 2007 don't statute of limitations apply i looked up done blogs only came after her as she was applying for mortgage. She did loan september 2007
Customer: replied 1 year ago.
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