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Consumer Bankruptcy › Government-Guaranteed Loans

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 -
BCLP

Senate Considers Bankruptcy Code Changes to Tackle Student Debt Crisis - and to Make Some Colleges Pay for It

BCLP on

As of May 2021, approximately 45 million Americans owe more than $1.7 trillion in student loan debt. For the arithmetically challenged, that means the average borrower has $38,000 in student loan debt....more

Bradley Arant Boult Cummings LLP

Student Loans in Bankruptcy: What’s on the Horizon?

Bradley Arant Boult Cummings LLP on

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

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