Recently an U.S. bankruptcy judge in New York discharged a Navy veterans $200,000 plus student loan debt for undue hardship creating a buzz among borrowers struggling with insurmountable student loan debt of their own. After all, the vet’s predicament was not unlike many other student loan borrowers’ stories. Like many students, he took a series of loans to pay for his undergraduate degree and a bit more when he decided to go to law school. As the years flew by, he piled on interest and … [Read more...]
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews
Bankruptcy and Co-Signors to Student Loans
With the cost of education skyrocketing, more kids are turning to parents and grandparents to cosign on private student loans, leaving them liable for payments if the child cannot pay the loan, becomes disabled, or in the event of the borrower’s untimely death. Co-signors stepping up to the plate happens more often than one would think. The number of people over the age of 60 paying off student loan debt on behalf of a family member has quadrupled over the last decade. If you are considering … [Read more...]
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews
Bankruptcy Student Loan Forgiveness Evolving?
Of interest to the many Americans who have unpaid student loan debt they are unable to tackle: The Trump Administration indicated yesterday that it is considering allowing more borrowers to erase student debt in bankruptcy, signaling a new chapter in bankruptcy student loan forgiveness. Anyone who has contemplated bankruptcy may well know, federal law prevents the discharge of student debt in a bankruptcy with very few exceptions. Because of the stringent standards for cancellation of … [Read more...]
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews
Tackling the Stranglehold of Student Loan Debt
Most debtors cannot discharge student loan debt in Chapter 7 or Chapter 13 bankruptcy. Absent this bankruptcy protection, the student loan industry sometimes functions with impunity. Because lenders have no reason to seriously evaluate a prospective borrower's ability to repay a loan, they lend money all too freely. When borrowers default, the lenders end up making even more money in interest and are given grossly enhanced collection powers to get it back. Borrowers who default on student … [Read more...]
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews