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Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy. Biden's new bankruptcy guidance, aimed at easing the process for borrowers, made that possible. Some attorneys told BI ...
New guidance. In theory, student loan debt can be discharged in a bankruptcy proceeding. If the bankruptcy court approves the discharge, the debtor has to submit a separate filing to prove ...
Key takeaways. To get student loans discharged, you'll need to prove that they cause you "undue hardship." Borrowers can choose between Chapter 7 and Chapter 13 bankruptcy, but they must file a ...
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...
Indeed, the National Consumer Law Center noted that student loans are dischargeable in bankruptcy only because of undue hardship, and current bankruptcy court practice has made “such discharges ...
More student loan borrows have successfully received debt relief through bankruptcy after the Biden administration made a policy change to make the process easier nearly two years ago, according ...
Reforming guidance for student loan bankruptcy is one example of a debt relief tactic that has been less vulnerable to lawsuits. The administration has also opened the door for more students who ...
The Consumer Financial Protection Bureau (CFPB) is taking steps to ensure that unlawfully collected student loan debt discharged in bankruptcy is returned to borrowers. Student Loan Crackdown ...
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