Steve Rhodes, Condemndedtodebt.org – “Finally, More Bankruptcy Attorneys Getting on the Student Loan Discharge Bandwagon.”
New Rules Make It Easier to Discharge Federal Student Loans in Bankruptcy
The U.S. Department of Education’s (“DOE”) promise of a kinder and gentler response to complaints to discharge federal student loans in a bankruptcy has been long awaited and may have arrived. On November 17, 2022, DOE announced a radical departure in how it will analyze these types of cases. The new procedure requires the submission...
Student Loan Victories
The law is stacked against student loan borrowers in many ways which forces student loan lawyers to be creative so when that results in an outright victory for a borrower it is a fine day in the neighborhood. Some of mine include the following: (1) Got sanctions in NH Bankruptcy Court against ECMC for its...
Statute of Limitations for Private Student Loans
Private student loans are the worst debt in America, bar none. Lenders have flocked to making private student loans, knowing there are few legal protections available to borrowers. I can get rid of IRS debt in a bankruptcy easier than I can student loan debt. One of my clients was told his payment would be...
Trap for the Unwary-Student Loans Under Seal
Unlike federal student loans, private student loans have a statute of limitation. Some student lenders attempt to extend the statute of limitation to as long as 20 years by inserting language in student loan contract claiming it is one being executed under seal. A contract under seal is an arcane concept derived from colonial times...
Discharging Student Loans in Bankruptcy is Not a Unicorn
Student loan debt in the United State has risen to $1.6 trillion dollars, second only to mortgages as the highest category of consumer debt in the United States. While new loans account for some of the increase, that’s only part of the story. One of the more obscure reasons for the explosion of student loan...
New York Times – “As Paperwork Goes Missing, Private Student Loan Data May Be Wiped Away” (July 17, 2017).
Have You Been Sued by National Collegiate Student Loan Trust?
One of the more notorious private student loan businesses in America is National Collegiate Trust. National Collegiate Trust is an organization that specializes in the collection of private student loan debt in New Hampshire, Massachusetts and elsewhere. Since your loan is one of thousands of student loans transferred multiple times, this can create a real...
Bankruptcy Means You Don’t Have to Take it Any More
When a consumer files bankruptcy, the bankruptcy court warns creditors they may face a lawsuit awarding damages and attorney’s fees unless all debt collection stops. The technical term for failing to do so is violating the “automatic stay.’ As it sounds, this protection takes effect automatically. It is intended to provide some ‘breathing space’ from...