Can I list a student loan payment on my Schedule J if the loan is not in my name?
Question Details: My father took out a federal student loan for me, and I did not co-sign. The loan is in his name only, and we have a verbal agreement that I will repay it. I make all the payments directly to the creditor. Is this an acceptable expense to list on the bankruptcy schedule J? Will it be contested by the trustee or judge?
Under federal bankruptcy laws a student loan is not dischargeable under a bankruptcy filing by the debtor. You can list the obligation under your schedule but the loan itself owed to the lender will not be able to be discharged.
However, your obligation to your father for the loan could very well be discharged.
The lender will contest any attempt to discharge this student loan in your bankruptcy.
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