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Consumer Bankruptcy › Department of Education

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Orrick, Herrington & Sutcliffe LLP

DOJ and DOE share success after first year of student loan bankruptcy discharge process

Orrick, Herrington & Sutcliffe LLP on

On November 16, the DOJ and DOE announced a successful first year of their new student loan bankruptcy discharge process during 2022. The discharge process extinguishes a borrower’s obligation to pay back either some or all...more

Troutman Pepper

DOJ Releases Guidance for Discharging Federal Student Loan Debt in Bankruptcy

Troutman Pepper on

The U.S. Department of Justice (DOJ) has released guidance to its attorneys regarding requests to discharge student loans in bankruptcy cases. The 16-page memorandum developed in coordination with the Department of Education...more

Epiq

The Future of Student Loans and Bankruptcy – Is There a Bubble Waiting to Burst?

Epiq on

In March 2021, the U.S. Department of Education noted that student loan borrowers owed $1.6 trillion federal and private loans. For many, loans are the only option to attend a U.S. university or college for undergraduate,...more

Ballard Spahr LLP

Education Dept. seeks comment on factors used to evaluate student loan discharge claims in bankruptcy cases

Ballard Spahr LLP on

The Department of Education has published a request for information in yesterdays Federal Register seeking comment on the factors used to evaluate claims of undue hardship made by student loan borrowers attempting to...more

Foley & Lardner LLP

7th Circuit Provides (No) Clarity on Compulsory Counterclaims

Foley & Lardner LLP on

Federal procedure requires a defendant to plead all counterclaims that arise out of the same transaction or occurrence as the plaintiff’s claim, or his claim may be barred in a later suit. Fed. R. Civ. P. 13(a). Although the...more

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