Can I discharge this student loan since they filed bankruptcy?
I had a student loan from First Marblehead Corporation. The Garenture on th eloan is TERI. I saw they filed bankruptcy on 04-07-08. My loan went into default on 03/08 so wouldnt that mean my loan would be discharged in there bankruptcy and I shouldn’t be liable for it? I have also read in the news that First Marble head is now no longer going to use them for there default garunture and is looking for another to replace TREI. Is there any loops holes legally with all this to get this loan discharged? I am filing bankruptcy right now (a chapter 7) and as of now I can not inculde this but I wanted to try to reach out and investigate any opportunity as I can pay this back.
Doubtful. Another company will pick up TERI accounts. Think of it as more of an acquisition. They will in essence buy your loan from TERI at a discount and then you repay them at your same rate.
