February Consumer Lunch February 10, 2026 Zoom link Attestation Process is Game Changer for Discharging Federal Student Loans Christi Arkovich, Arkovich Law Bob Branson, Branson Law Tammy Branson, Branson Law This CLE program explores the Department of Justice and Department of Education’s 2022 guidance that loosened the…
Zombie second mortgages are becoming quite a problem nowadays. The typical story is that someone took out debt for either a home purchase or home improvement/repair prior to 2008. They likely have not received statements, and are current on their first mortgage. Out of the blue, they are contacted by…
Major student loan changes are coming July 1, 2026. New borrowers will only have two repayment options — Standard or the new Repayment Assistance Plan (RAP). All other income-driven repayment plans (IBR, PAYE, SAVE) are being eliminated for new loans. The Grad PLUS program is also being eliminated, and Parent…
The new Income Driven Plan (“IDR”) set to roll out next summer on July 1, 2026 is called the Repayment Assistance Plan (“RAP”) for federal student loans. The administration’s goal is to eliminate the choices and complexity of the present federal student loan repayment system. The old IBR, new IBR,…
There are still borrowers on a SAVE forbearance, mostly those who: Are planning to pay off their loans; Are not in a position to pay right now because addressing other payments or between jobs etc. or Waiting for a PSLF buyback response. Everyone else should have already switched plans or…
Defaults Increasing: More borrowers are entering default because they are choosing to either wait out ED and the uncertainty of SAVE, are tired of dealing with their servicers and the constant changes or they simply do not have the ability to make IDR payments. Default on federal student loans is…
Early October has many federal student loan borrowers receiving forgiveness emails for those whose backdoor trackers show 300+ qualifying payments, and enrollment in IBR. This suggests that the Department of Education (“ED”) ran an internal audit and submitted the most straightforward cases first. We anticipate more rounds of forgiveness emails…
We have to wait for the SAVE litigation to learn if a new process allowing for Income Driven Repayment credit for all debtors in a Chapter 13 bankruptcy will go into effect. It is presently enjoined as part of the SAVE litigation. Rather than penalizing a debtor by simply placing…
Debt collection in the U.S. operates within a framework of consumer protections using the Fair Debt Collection Practices (“FDCPA”), the Fair Credit Reporting Act (“FCRA”) and the Unfair and Deceptive Trade Practices Act (“UDTPA”). There are many more federal acts protecting against unlawfully high interest rates, fraudulent mortgage practices, deceptive…
We believe that bankruptcy is becoming a major pathway to addressing student loan debt. It offers a guardrail – and a penalty for those seeking debt relief; the borrower has to file bankruptcy. Bankruptcy is outside the purview of ED requiring very little input from ED. It is simple in…