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The U.S. Department of Justice and Department of Education recently announced that the new guidelines for discharging student loans in bankruptcy have led to an increase in borrowers applying for ...
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...
Student loans are considered investments in the debtor’s future earning potential, said Levon L. Galstyan, CPA at Oak View Law Group. Therefore, Galstyan said it is in the public interest to ...
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
Defaulting on a loan happens when repayments are not made for a certain period of time as defined in the loan's terms of agreement, typically a promissory note. For federal student loans, default requires non-payment for a period of 270 days. For private student loans, default generally occurs after 120 days of non-payment. [1]
Alrena Dale, 61, was working multiple jobs to afford her monthly student-loan payments. Then came Biden's new bankruptcy guidance. How a student-loan borrower got $155,000 in debt wiped out ...
Joshua R.I. Cohen, an attorney based in West Dover, Vermont, who specializes in student loan cases, says undue hardship can be defined in various ways, but borrowers often need to pass the Brunner ...
Bankruptcy won’t discharge student loan debt. However, there are options to make your payments more manageable. Borrowers with federal student loans can pursue deferment or forbearance for up to ...