med school and bankruptcy

[peds888]

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I filed for chapter 13 bankruptcy a year ago. I'm applying to med school this year.

Do you guys know if i'm able to get enough loans (federal loans) to pay for my medical school education? I'm 100% depending on loans.

about the bankruptcy, it's a long story. I owed $8,000 in credit cards and was layoff for 4 months. i couldn't pay for the monthly minimum and asked the creditors to enroll me in a financial hardship program. every credit card company have that. they all told me to ***k off and wouldn't let me do it. I was so annoyed with their collection calls and finally had enough of it. I filed for ch. 13 bankruptcy. I just don't understand, I told them I would pay them back as soon as I find a job but they refused. Now, no one wins.

Anyhow, please let me know any info to my question. Thanks!

 

[C. LaRue]

I'm so sorry. That sucks. Why don't you meet with a financial aid advisor at your undergrad institution, for starters? That's the only idea I have, but I do know that at least at my school, the advisors bend over backwards to give help and advice. Good luck!

 

[ussdfiant]

Moving to Financial Aid.

 

[OrthoFixation]

If you got advice before filing, it was baaaad advice. There was no recourse for them if you didn't make your payments (in certain situations, creditors can force bankruptcy filing, but no one would mess with you over $8K).

Of course your credit scores would have gone down by not paying, but now they are screwed for seven to ten years, if memory serves.

You would be amazed how cooperative unsecured lenders get after 90 days w/o payment. You can stop collection calls by requesting so in writing. If you tell them they can't call your work, they must comply. Proper notification is required and should be by return receipt certified mail.

With a Ch. 13, just make sure you keep up with the payments. Otherwise, it can be easily converted to a Ch. 7 no matter what you say to the judge.

I am not certain, but federal loans are not dependent upon credit score. Private loans are another story entirely. If you can find a willing lender, the rate will be pretty high. I would recommend going to a cheap school and keeping under the $38,500 fed cap.

Moral: Don't listen to what creditors tell you. They lie and deceive, just to collect on your account.