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The new processes established by the Department of Justice in 2022 has made it easier for borrowers to discharge student loans through bankruptcy. Filing for student loan bankruptcy is never ideal ...
Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy. ... It showed that 588 new cases were filed from October 2023 to March 2024 — a 34% increase from the prior 6-month ...
In most cases, student loans are not eligible for discharge. This includes federal student loans, private lender student loans and loans provided by a university. There are a few exceptions to this.
Student loan payments resumed in October 2023, with the average payment estimated at $200 to $299 per month, according to U.S. Federal Reserve data reported on by Fox Business. See: Biden Cancels...
Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, both federal and private student loans are more difficult to discharge in bankruptcy than other types of ...
Most bankruptcy attorneys predicted that this will result in increased attorneys fees and will make attorneys less likely to take on some cases. In addition, bankruptcy filings are now subject to audit in a manner similar to tax returns. Increased compliance requirements for small businesses. The new law increases the bureaucratic compliance ...
Common exceptions to discharge include child support, income taxes less than three years old, property taxes, student loans (unless the debtor prevails in a difficult-to-win adversary proceeding brought to determine the dischargeability of the student loan), and fines and restitution imposed by a court for any crimes committed by the debtor.
Closed school discharge: If your school closed while you were attending (or soon after you withdrew), you may qualify to have your federal student loans discharged.
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