Can SallieMae penalize me for filing for Bankruptcy 7?

Question

I called to get my pay off amount and they told me $13700. Last month when I paid my monthly, my balance was only less than $9000. I've been paying this loan monthly up to now even though I filed for bankruptcy. I tried calling again but their lines were busy. Can they charge me more for filing for bankruptcy?

Answer 1

When did you call for your payoff amount?  According to what you wrote, you've paid off $4700 but you don't mention in what time frame or how much you've been paying per month or what the interest rate is.  Without that information it is impossible to determine if they have charged you more.  BUT, they wouldn't charge you more anyway-Bankruptcy has no effect on student loans.  If it is a fixed loan then the amount you borrowed and the interest rate will not change, therefore, if you have not changed the terms (thru deferment or forebearance) then everything should be the same.  If it is an adjustable rate, then it will change with the changes in interest rates.

Answer 2

No, as long as you pay off that debt, you shouldn't get charged more.  The balance and the payoff amount may be different due to accrued interest that hasn't been put on the account but that you owe.  

I am sure that they can explain it to you when you get through to someone.

Answer 3

Hi,

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