By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureThe U.S. Department of Education recently announced a new process to identify and assist borrowers with disabilities who may be eligible for Total and Permanent Disability (TPD) federal student loan discharge. More information about qualifications and the application process can be found by clicking here. You can also read the April 12, 2016 Press Release… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7We have written quite a bit about student loans in this blog (which you can access with the student loan tag), and we will continue to do so. It is one of the biggest financial problems we have in this country. Recent data shows that it is not only young people who are burdened with… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7We have discussed the Means Test in detail in this post. “Passing” the Means Test is the key to qualifying for Chapter 7 Bankruptcy, which is a much better option than Chapter 13 for many people. It allows people to get in and out of Bankruptcy in a few months, with no 3-5 year payment… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7One of the most common issues that comes up in Bankruptcy cases, primarily Chapter 7 cases, is “reaffirmation.” It is also sometimes one of the most confusing issues. Simply stated, a Reaffirmation Agreement is an agreement between a debtor in a Bankruptcy case and one of their creditors whereby the debtor agrees to repay a… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7As we discussed in this post about the discharge of student (or educational) loans, most courts apply some version of the Brunner Test in determining whether a student loan should be discharged because of undue hardship. The Brunner Test is named after a 1987 case in the Second Circuit Court of Appeals, Brunner v. New… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7As we go along with this Blog we will discuss cases about one of the most important financial issues of our day – student loans. We know from this post that they are difficult to discharge in Bankruptcy, although there is a reason that we should probably try more than we do to get them… Continue Reading
By Scott Riddle Posted in Chapter 7Student loans are one of the most important financial issues of the day, and as discussed in this post, are hard to discharge in Bankruptcy. The test of “undue hardship” is definitely a high bar, and depends on the specific facts of the case. Because of this, we will occasionally discuss cases in which Courts… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7When we think about student loans, we normally automatically think about loans taken out for college or other higher education. In the Bankruptcy context, we also know that public and private student loans are generally nondischargeable unless the borrower meets the tough “undue hardship test.” However, the fact is that Bankruptcy law does not limit… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7One thing that Bankruptcy lawyers generally agree on is that it is very difficult to get a discharge of student loans and other educational obligations under the Bankruptcy Code and the cases that interpret the law. We discussed the legal test in this post, and under the law we often say that a discharge takes… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Student loans have become a huge burden in the United States. Recent statistics show that current outstanding student loan debt is more than $1.1 Trillion. That is “Trillion” with a “T.” We can point our fingers in many directions to cast the blame for this high number, including lenders, borrowers, schools, and the federal government,… Continue Reading
