What's a good minor for a business student?

If you are in default on your private student loans can they sue for ownership of a business you own?

• I have a business that I have had for some time, and I do have a little bit of investment money in my business account and assets. I was working before the recession of 2009 through today, and I have just managed to scrape by and I am finally starting my business back up again since the economy is picking up. I do earn a lot less than I used to and I do not make anywhere near enough to pay my student loan payments. I have declared Chapter 7 bankruptcy and my student loans are in default. Since I do have a business that I am using in order to make a living, am I in danger of losing my business if the private student loan companies sue me or take any other legal action against me? Or, is my business safe since I am making a living off of it. It is not enough to cover living expenses and the monthly student loan payments. Is there a way that the student loan companies can take my assets from the business to pay down some of the student loan debt that I owe? (This is the only way I make a living, as I have been on government aide before that.I also realize that the Chapter 7 bankruptcy does not wipe out the student loan debt.) Thank you in advance for any help provided.

• Answer:

  I'm no lawyer, but if you have a personal loan and you've got assets on your name, the lawyers can definitely take you in on those assets. They'll probably evaluate what the best option would be and go for it. There may be a way to restructure the loan, but it all depends on the type of financial institution you're dealing with. I recommend you consult your business attorney and find out what your options are before a debt collector comes knocking at your door to repossess your assets(if your business has fixed assets, they'll probably do something called "asset stripping" which basically entails stripping your business apart as it is easier to sell off in pieces). There are other shady ways of getting through this, but I won't mention them because I wouldn't do those unethical things myself. Heck, I consider a loan an unethical thing as well. die compound interest die!