I had this ready to go last week, but just noticed it didn’t go out as planned. Still reviewing the impact of this Order, but it appears to block ED from implementation or action under the 2023 IDR regs that created SAVE and several other improvements to IDR while the…
Lots of fighting over student loan forgiveness right now. One of the big things we were (and still are) looking forward to is a change of law allowing bankruptcy debtors to obtain IDR credit for their plan payments. Previously, many debtors did not receive such credit because the Department of…
The 10th Circuit came out with a ruling a couple days after the Missouri and Kansas rulings modifying the stay/injunction on the SAVE plan and student loan forgiveness. It will allow the Department of Education to implement SAVE’s 5% payment calculation for undergraduate loans starting July 1. The rest of…
Just when we thought all things student loan related couldn’t get more complicated. The Department of Education (“ED”) has been trucking along with its plans to get everyone on SAVE, correct prior problems with PSLF and the heavily used forbearance option that only caused balances to increase dramatically. Now, on…
Do you see a debt on your credit report that is not yours? Did a relative (mother, child etc.) sign your name to obtain a loan? This is a typical fact pattern we see for our Fair Credit Reporting Act cases. Some unauthorized person signed for a debt and now…
The debt limits of a Chapter 13 bankruptcy are dropping considerably tomorrow, June 21, 2024. The Bankruptcy Courts are reverting back to a two part test that limits eligibility to a maximum of $465,275 for unsecured debt and $1,395,875 for secured debt. Importantly, there is no talk of an extension…
The Biden administration’s overhaul of the Department of Education has put a lot of things on hold during the pandemic, but has created a number of good programs and fixed existing programs that should be taken advantage of now. If your student loans are in default for instance, while rehabs…
We will be speaking at the Orlando Student Loan and Bankruptcy Workshop on June 7, 2024 along with Laurie K. Weatherford, Chapter 13 Trustee, Orlando Division, and Robert and Tammy Branson. For our fellow attorneys who practice bankruptcy, this is not one to miss. The cost to attend is only…
We’ve confirmed through the NCLC that the new regulation allowing credit for IDR for anyone in bankruptcy will NOT apply to FFEL loans. Or Perkins loans, or unconsolidated Parent Plus loans. So it’s best to consolidate to Direct Loans before filing, but now that the 4/30 deadline has passed, it’s…
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