How to Discharge Student Loans in Bankruptcy • Video
Protections for student loans limiting your ability to discharge student loans in bankruptcy have increased since 1978. Originally you could discharge all student loans until the following events occurred: An amendment in 1978 made student loans dischargeable in bankruptcy after five years of repayment. In 1990 bankruptcy discharges for student loans went to 7 years. […]
Paycheck Garnishments from Student Loans & the IRS
Both the IRS and Government guaranteed student loans can perform paycheck garnishments without going to court. But bankruptcy can stop the paycheck garnishments even if they are priority debts or they are not dischargeable. In fact, the IRS and Department of Education can issue the orders even in states that don’t allow garnishments. However, Chapter […]
Student Loans For Prisoners and the Dead
Can you believe it?! DOE gives out Student loans for prisoners and the dead. Additionally, what is happening is that since 2018 the Department of Education has not given out death and disability discharges. However, the facts are that the Department of Education gives fraudulent student loans to convicts in prison or people pretending to […]
Student Loan Rehabilitation Law New Regulations
Did you know that student loan bill collectors are often paid over $100,000 a year to put you into loans and rehabilitation programs that are neither reasonable nor affordable? In fact, student loan collectors are paid like the mortgage industry servicers who violate the law and regulations. Student loan collectors are paid by charging fees […]
Student Loan Bankruptcy Law Reform
In an old ABI podcast, two law professors debated student loan bankruptcy reform and lawmaking to make student loans easily dischargeable in bankruptcy and possibly propose methods on how to do it. One law professor suggests student loans might be valued by using what an unsecured lender pays for this debt, based on the ability […]
Student Loan Statute of Limitations • Video
There is no statute of limitations for government student loans. Federal Student loans are exempt from the state statute of limitations because of Section 484A(a) of the Higher Education Action and 20 U.S.C. § 1091a(a). However, Private student loans are subject to the statute of limitations and all the same defenses that any other contract […]