Tag: Student Loans and Bankruptcy
Bankruptcy And Student Loans: Understanding Your Options
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Navigating the treacherous waters of financial hardship can be daunting, mainly when it involves the complexities of bankruptcy law and student loan debt. In Clearwater and across the United States, many debtors grappling with overwhelming financial obligations often wonder if declaring bankruptcy could provide a respite from their burdensome student loans. This article explores the…
RECENT EXECUTIVE ORDERS REGARDING STUDENT LOANS
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President Biden has signed numerous executive orders recently related to student loan forgiveness. The Borrower Defense to Repayment Program, according to a recent article published in Forbes, will allow forgiveness to certain student loan recipients who were defrauded by the colleges or institutions in which they enrolled. This program was enacted by executive order in…
TERMS OF BANKRUPTCY BILL ADDRESSING STUDENT LOANS
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A bill, currently in Committee before the Senate may permit many debtors encumbered with student loan debt to achieve a discharge of such debts through the process of bankruptcy. Currently, the primary avenue for the discharge of student loans in bankruptcy is through establishing such debts constitute an undue hardship. The bill, titled the “Fostering…
DISCHARGE OF STUDENT LOANS IN BANKRUPTCY PROPOSAL IN NEW BILL BEFORE CONGRESS
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A new bill being presented to Congress will permit the discharge of student loans in bankruptcy provided certain conditions are met. The bill, sponsored by Senator Richard Durbin and Senator John Cornyn, is titled the Fresh Start In Bankruptcy Act. Under the current bankruptcy laws, it is quite difficult to discharge a student loan in…