Posts Tagged ‘Cancel’

If I put all of my student loan debt on a credit card, could I cancel this out by declaring bankruptcy?

Posted in Credit on 02/10/2010 03:33 pm by
migueljuan asked:


I currently owe $45,000 in student loans and I am having a hard time paying them off. The loans are private (sallie mae) and I am not elligible for consolidating them via federal loans since I am not a US citizen. I was not able to get a visa so I had to leave the US. I live in Europe now.

I understand that declaring bankruptcy would not cancel out the student loans, but I have read that bankruptcy could cancel out credit card debt. I have a good credit score (790), so given some time, with an even higher credit score, I may be able to transfer my loans to a few credit cards.

What are the laws regarding credit card debt and bankruptcy? What difference does it make that I am not a US citizen and do not live in the US?

Lucy

 

Can I cancel my UK student loan debt by living in a foreign country?

Posted in Home Loans on 08/22/2009 05:00 pm by
RJC asked:


I have a debt with the student loans company in the UK, taken out between 2002 and 2005.
I’ve heard that if I live in a foreign country for a number of years my debt can be cancelled. Is this true? How does it work?

Sandra