Vocaboly.com

[Heather]

I will try to make this brief.

Facts:

Husband filed Chapter 13 bankruptcy. Set up on repayment plan ending
in June 2004. Has an outrageous amount of student loans - to the tune
of $140,000 ***maybe****. We want to purchase a home.

Questions:

1. Are student loans considered to be in default if they are included
in a bankruptcy? Because if they are, we cannot buy a home. If they
are not, we can.

2. Our credit report lists several student loans that have a zero
balance left. These are with the private lenders. (i.e. Wells Fargo,
Chase Manhattan). Will they be discharged?

3. Our credit report lists EFR Corp. (Servus Financial) as an agency
for them. When I went to their website, I got Wells Fargo. They are
showing a balance due on the credit report. I do not see them on my
spouse's Chapter 13 repayment plan or statement. This is the biggest
headache of all! I don't know WHO we owe, and neither does he. My
fear is that if I start calling all of these places that were private
lenders, they will begin collection efforts again. The trustee is no
help. The attorney is no help.

4. I went on line to a government website to see what we owed in
Federal Student loans. It lists Sallie Mae and a few others. On our
credit report, Sallie Mae is showing all of their loans have
transferred to another lender. Our Perkins loan does not show at all.
Who do we owe and how do we find out?

5. Has anyone every successfully finished a chapter 13 plan with
student loans? What happened?

Not that it matters, but my husband chose to go into Ch 13 because 6
mos. after graduating from Embry Riddle (pilot school) he was only
making $1,000/mo as an instructor and got bad advice. He's now
working for an airline for about a year now and we are happy about
that! The problem is we would like to purchase a home (for about the
same amount as rent) and prepare for life after the regular Chapter 13
payments. We've been working on trying to get answers for a few
months now, and NOTHING. People see something on their screens, but
will not talk to us. We get answering machines and never called back.
Please help me work through this maze. Ask me as many questions as
you need to help you help me.

Thank you in advance for any help you can provide!!!!

H&D