Easier is not the same as easy! In the past, discharging federal student loans in bankruptcy has been very difficult. The Department of Justice fought discharges tooth and nail. Discharging student loans through bankruptcy was unrealistic because it was expensive and exhausting for borrowers (and their attorneys). The Department of Justice has released [...]
If you are a public servant, such as first-responder, teacher, government employee, non-profit employee, nurse, etc., you have a limited window to obtain credits for payments made under the Public Servant Forgiveness Program. Under the Public Servant Forgiveness Program, a student loan borrower with qualifying loans is required to make 120 qualifying payments. Then, [...]
Federal Student Loan Deferment Ends 05/01/2022 Most people with federal student loans have been in deferment for 2 years now. Not all federal student loans are in deferment but most are. Beginning May 1, 2022, all federal student loan borrowers will need to restart payment. Now is the time to consider your repayment options. [...]
For federal student loans, the forbearance program is extended until at least January 31, 2021. This means at least a temporary pass on qualifying loans with no interest for a few more months. At Cross Stone Law, we only handle bankruptcy cases. We will evaluate your student loan debt for the possibility of discharge [...]
SUMMARY: Student loans can be discharged in bankruptcy only upon proof of undue hardship. The standard of evidence required is extremely high. Even where the student loan is not dischargeable, bankruptcy may help some by discharging other debt or restructuring debt, to make money available to pay the student loan. Don't Do Nothing. Taking [...]
With the declining economy and lack of jobs, more people are going back to school. They hope more education will qualify them for a higher-paying job. They live on student loans and borrow to pay all expenses. Unfortunately, more education is no longer a guarantee of a higher-paying job or even a job. Before [...]