Finance & Banking, Bankruptcy, Education Law

Bankruptcy May Become a Way Out of Student Loan Debt

by Michele Bowman | Lawyers.com on 5/8/2013

While students get breaks on their loans in some ways, filing bankruptcy has never been one of them. But if a federal appellate opinion and action in Congress are any indicators, that could be changing....more

Student Loans: Nondischargeability Questioned in Seventh Circuit and Beyond

by Adam McNeile | Sheppard Mullin Richter & Hampton LLP on 4/26/2013

Conventional wisdom says that it is nearly impossible to obtain a discharge of student loan debt in bankruptcy. Indeed, Section 523(a)(8) expressly excepts student loans from discharge, unless the exception of such...more

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans [Video]

by Bloomberg Law on 4/17/2013

April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more

Supreme Court Offers No Guidance On Student Loan Undue Hardship Test

by Harold Shepley & Associates, LLC on 3/12/2013

After receiving a general release from his debts under Chapter 7 bankruptcy, Roger Traversa filed for release from his $60,000 student loan debt, claiming that it would be an undue hardship for him to repay. Traversa...more

New Legislation Introduced to Allow Discharge of Private Student Debt

by Patrick D. Dolan, John Sun | Dechert LLP on 2/15/2013

The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more

Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy [Video]

by Bloomberg Law on 2/6/2013

Feb. 6 (Bloomberg) -- The dominance of Delaware and New York bankruptcy courts is secure for another two years, for reasons Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on their...more

New Law Could Help Chuck Toxic Student Loan Debt

by Aaron Kase | Lawyers.com on 2/6/2013

The U.S. Senate is considering a law that would allow consumers to discharge private student loans through bankruptcy, a measure that could bring relief to untold thousands who are drowning under oppressive college debt....more

Avoid Defaulting on Government Student Loans

by Lawyers.com on 9/21/2012

The amount of student loan debt in the United States is close to $1 trillion. Student debt has passed up credit-card debt to become the second-largest category of consumer debt in the country. Only mortgage debt is...more

Yes, You Can Ditch a Student Loan in Bankruptcy

by Lawyers.com on 9/17/2012

The mantra is repeated over and over: You can’t discharge student loans through bankruptcy. However, while it’s reality for most indebted people, the conventional wisdom isn’t quite true. In a seldom-invoked provision,...more

Second Circuit to Student Loan Collectors: Know Your Bankruptcy Law!

by Ballard Spahr LLP on 9/10/2012

A recent decision by the Second Circuit underscores the importance to debt collectors of accurately describing the options available to a student loan borrower in bankruptcy, even a borrower who previously filed but did not...more

Second Circuit Applies “Least Sophisticated Consumer” Test In Student Loan Debt Collection Case

by BuckleySandler LLP on 9/6/2012

On August 30, the U.S. Court of Appeals for the Second Circuit held that a debt collector’s representation to a debtor that her student loans were “ineligible” for bankruptcy discharge is a “false, misleading, or deceptive”...more

Reduce Student Loan Debt in Niagra Falls, New York

by Frank Pipitone on 9/5/2012

If you want to relocate, consider Niagra Falls and reduce your student loan debt....more

Consumer Financial Protection Bureau Shaking Up Private Student Loan Industry

by Saul Ewing LLP on 8/9/2012

The Consumer Financial Protection Bureau has issued a report highlighting significant consumer protection issues in the private student lending industry and making recommendations to ensure transparency. ...more

Congressman: Fix The Student Debt Crisis With Bankruptcy Reform [Video]

by Bloomberg Law on 7/25/2012

July 25 (Bloomberg Law) -- While economic indicators continue to worsen, US bankruptcy law still prohibits individuals from getting rid of their student debt except in the rarest of circumstances. U.S.Representative Steve...more

Student Loans and Bankruptcy: The Uphill Climb to Eliminating Your Student Loan Debt By Matt Nash

by Jeff Field & Associates on 6/29/2012

Student loan debt is on the rise in this country, so it is no surprise that one of the most common questions posed by potential clients is whether or not they can eliminate their student loan debt. The answer is most likely...more

Ex-Dean: I Expect Some Law Schools to Close [Video]

by Bloomberg Law on 4/25/2012

April 25 (Bloomberg Law) -- Former University of Nebraska and University of Houston Law School Dean Nancy Rapoport tells Bloomberg Law's Lee Pacchia that she expects some law schools to close their doors because of the...more