Say you have a private student loan and you have previously filed a bankruptcy. Was your private student loan discharged? I’m presuming you did not file an adversary case to obtain a specific ruling as to dischargeability of these loans. What is Homaidan? Loans that could have been discharged as…
We also would want to take advantage of any other programs out there such as the IDR recount going on right now. Normally, we walk borrowers through the process for that during our strategy session and get it done then. The IDR recount is huge – it’s allowing forgiveness for people…
For people granted TPD, who are also eligible for IDR AUDIT Forgiveness, Dept. is moving TPD people from TPD forgiveness to IDR Audit forgiveness. While there is no 3 year income monitoring on TPD anymore, there still is a three year monitoring on TPD for things such as returning to…
The Supreme Court decision of United Student Aid Funds v. Espinosa (2010) 559 U.S. 260 is usually cited for the proposition that a court may not make an order on whether student debt is discharged without an adversary proceeding. In USAF v. Espinosa, the issue was whether confirmation of a chapter 13…
I just put a client together with a reporter doing a story about high interest vehicle loans. I’ll leave the details to him and post here when the story comes out — but I did want to remind folks that there are ways out of these loans. This particular loan…
Dear X, Congratulations! The Biden-Harris Administration has forgiven your federal student loan(s) listed below with Nelnet in full. This debt relief was processed as part of the Biden-Harris Administration’s one-time account adjustment because your student loan(s) have been in repayment of at least 20 or 25 years. An adjustment to…
The very rough estimate is to look at how long you’ve been out of school. Then, subtract: 6 months from when you stopped school (grace period doesn’t count) any time you were in default or bankruptcy any time you returned to school. So, if you completed undergrad in ‘96, but…
For those of you facing repayment of federal student loans: some people are asking whether SAVE is restricted to certain years of loans like PAYE. Nope. SAVE is open to all Direct Loan holders, except Parent PLUS. No disbursement restrictions like PAYE. So, as long as you have Direct Loans,…
Lots of federal student loan borrowers are in the same boat now. Have you consolidated your loans in an effort to get onto SAVE for the lowest possible payment? But it seems to have backfired because your payment is now enormous? Here’s some tips that you may want to be…
Well folks, it appears that the Department of Education may have just closed the loophole which led to Borrowers double consolidating Parent Plus loans in an effort to get onto the more payment friendly SAVE program rather than the much higher ICR – Income Contingent Plan. By doing a double…