The Fifth Circuit’s recent decision in Crocker v. Navient Solutions is a stark reminder to for-profit student lenders and servicers that bankruptcy caselaw continues to evolve relating to discharge. In Crocker, the Fifth...more
11/5/2019
/ Chapter 7 ,
Class Action ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Consumer Lenders ,
Dischargeable Debts ,
Internal Revenue Code (IRC) ,
Loan Servicer ,
Payment Terms ,
Private Student Loans ,
Student Loans ,
Students
Federal law has long excepted student loans from discharge in bankruptcy in all but the rarest instances, recognizing the problems (and costs) associated with allowing borrowers to wipe out defaulted debts through a...more
Creditors and credit furnishers often find properly reporting a payment status to Credit Reporting Agencies (CRAs) during, and after, bankruptcy a challenge. The recent Report of the American Bankruptcy Institute on Consumer...more
Several U.S. Senators have introduced legislation for a Military Consumer Enforcement Act that would seek to empower the Consumer Financial Protection Bureau (CFPB) to oversee and enforce compliance with the Servicemember...more