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In my research on this subject, I have run into conflicting reports.

Due to massive debt directly related to a year full of serious medical issues in 2008, my wife and I filed for Ch. 7 bankruptcy last year. As fantastic as it feels to be debt free and out from under the thumb of creditors, I am left wondering how this move will affect my ability to qualify for financial aid. Common sense tells me that it will be more difficult as some options will likely be unavailable. I'm treading very carefully, as a return into indebtedness is not something I want to do casually.

I'd love to hear from someone who knows the real story. Thanks!

Seems like the consensus online is - 'it depends'.

With no past student loan debt, plus having filed ch.7 instead of ch.11, plus with possibly having a qualified co-signer if needed, I think i should be fine.

For anyone else in a similar situation:http://www.finaid.org/questions/bankruptcy.phtml

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YCrevolution wrote:While not specifically related to acquiring federal loans, you may want to consult with someone experience in C&F issues to see how much trouble a past bankruptcy will cause you when you're applying to be admitted the bar.

Really great advice, thank you. I hadn't even thought of that. I got really scared for a second, but a little research yielded evidence to suggest that I will be fine. My Ch.7 was legit and was a direct result of unforeseen catastrophic medical problems compounded by the economic turndown in '08. No fraud on my part, so it seems that I should sail through years from now, post-JD.

Directly from the California Bar website:
"...The fact that an applicant has availed himself or herself of rights under the federal bankruptcy laws does not reflect on moral character... If bankruptcy was resorted to in an effort to defraud creditors, moral character issues may arise."

I will definitely disclose every detail and be 100% honest, but my situation is pretty straightforward and legal.

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