So what better time to expound upon the benefits of the Student Loan Management Program (“SLMP”) here in a Florida bankruptcy. I am sure that many of you are thinking if this is so great, why hasn’t it been utilized much to date? Well, mostly it’s due to timing. The…
Prior Student Loan Sidebars have addressed the specific guidance and programs available to help with student loans in bankruptcy. Some of these features include: Enrollment in an Income Driven Repayment Plan rather than allowing ED to simply place student loans in a capitalizing forbearance during a Chapter 13 plan. We…
We believe we’ve found a good software solution to upgrade our document collection for bankruptcy. We are now taking steps to purchase and incorporate this into our system. Our hope is that it will reduce the time our clients spend obtaining and uploading or sending documents to us, pre-populate the…
Buy now, pay later options are on the rise. The most popular players in this space – Klarna, Afterpay, Affirm, and Zip – are everywhere. They’re not just options. They’re default features, embedded into the checkout flow of almost every major retailer. Even Door Dash now has options which allow…
While the Income Driven Payment application process is shut down (paper applications were being processed, but now they too are reportedly on hold), to be first in line when it restarts, we suggest a paper application be sent to your loan servicer so it’s in the queue, and be sure…
More and more signs are pointing toward bankruptcy being the best platform going forward to address student loans. Why? We can often discharge private and even federal student loans (if either an undue hardship exists or it’s an unqualified education loan); We can cure a default of a federal student…
I’m sharing this here — it’s also being provided to our fellow attorneys signing up for our NACA webinar today at 2:00 p.m. Helping your clients take their lives back from their student loans sometimes involve bankruptcy related solutions. While filing bankruptcy has typically NOT been helpful for those with…
Much like the NASA moon landing, I have two very different powerpoints ready for a student loan presentation today at 2:00 p.m. for the National Association of Consumer Advocates (NACA) And I might be checking X on my phone every few minutes to see if there is any new Executive…
Big things are happening regarding Discover’s portfolio of student loans. If you have one of these, please follow along and see what can be done. Specifically, Discover is getting out of the private student loan business. Fully. They are sending letters to borrowers in a bankruptcy that they are forgiving…
So what exactly does a Chapter 13 do with regard to debt that is co-signed by someone who did not file bankruptcy? What about debt that survives a bankruptcy such as many (but not all) student loans? First off, a co-debtor stay is imposed immediately when a Chapter 13 is…