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Not Getting Your Student Loans Forgiven Yet?

Christie_1Bankruptcy is finally working for people with student loans — I expect to have a series up shortly about all the ways a bankruptcy can help now with both federal and private student loans.  This didn’t used to be true, and you may find people out there who follow those old rules and say that bankruptcy cannot help with student loans.  I’m afraid that after the IDR audit expires (deadline next Tues – 4/30), bankruptcy will in fact be one of the best – and often overlooked options to reduce crazy student loan debt.

Total and Permanent Disability discharges are also going strong — and never mentioned by loan servicers in our experience!  I just ran our numbers for 2023 and we had 28 TPD matters last year.  Discharges in as little as three months start to finish.  Something else that shouldn’t be overlooked if you find that you cannot work a full time job doing what you used to do.  That’s not exactly the wording that the TPD application uses, but it’s a way that we describe the process which we have found is more accurate than can you dress and feed yourself.  Remember, this is not an SSD review, it’s a vocational review of your ability to work.  We look at a lot of employment related factors, and our doctor can review your medical records and see you by Zoom or in person here in Tampa.  You can be anywhere though – even outside of Florida, even outside of the U.S. for us to help.

Double consolidation for those with Parent Plus loans is working to get people into the lower SAVE payment rather than getting stuck in a multi thousand dollar ICR payment.  There are rules and recommended procedures to do this though – see our videos or set a strategy session with us before you try that on your own.

Double Consolidation:

Arkovich Student Loan Sidebar:

So even though the IDR Audit will be ending soon, there are other options to start fresh and get rid or at least drastically reduce student loan debt and payments.

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