Month: June 2015

Bankruptcy – Going Back to School

I filed Chapter 7 bankruptcy in October of this year. I’ve been living on cash, paying bills on time, and working towards yoga teacher certification as another stream of income. I’m interested in going to 3 year MFA program. I talked to the chair of the department and he stated that there is educational funding, federal student loans, and that a lot of students that work. I will definitely be working. Question: Should I apply this year to start in October or wait until 2016 because I just filed Chapter 7?

I think I should go for it. I’m in the perfect spot right now – no bills to worry about other than your living expenses. If I wait, I may have other debts that delay school. Jump now while I have the chance! I don’t know the rules of bankrupcy, but i don’t see the logic of waiting until 2016 to apply for financial aid for education. bankrupcy takes years to clear. if you’re fortunate to receive financial aid despite it, perhaps you can keep a separate account in which to deposit the funds and not reveal the account information to a creditor. but your question is whether you should wait until 2011 to apply for the MFA program. no, i would not delay education. bettering your skills will help you get on your feet sooner, so don’t delay.

If she’s already been discharged through the bankruptcy, creditors can’t touch any money she has no matter where or what it is. She could win $6 million in the lottery and they couldn’t touch her. I went through Chapter 7 about ten years ago (what she said she had done). Once it’s finalized through the courts, it’s done and over. The creditors can’t do a thing to her.