Category Archives: Student loans

Chapter 13 debt limits increase

The upper debt limits for going in to Chapter 13 bankruptcy increased as of April 1, 2016. Chapter 13 debtors must have less than $1,184,200 in secured loans in order to qualify for relief. They also must have less than $394,725 in unsecured loans to qualify. The debt limits are adjusted automatically every three years, […]

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Letter presses administration on student loan bankruptcy standard

As of May 16th, 2014 there has been a new development, a bit of a surprising twist, you might say, in the saga of student loan collections. Seven Democratic congressmen (including Senator Elizabeth Warren from Massachusetts) have sent an open letter (text here) to the Department of Education asking them to clarify what qualifies as […]

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Massachusetts debtor discharges law school lawns in bankruptcy case

Student loans are impossible to discharge in bankruptcy, right? So goes a lot of street wisdom, but take a look at what actually happened in court in Massachusetts in January, 2014. A disbarred lawyer with criminal convictions stemming from some wild incidents in his law practice (he was tossed from the bar after a mere […]

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More options for debtors buried in private student loans?

Getting out from under a load of privately held student loans is no easy trick, even in bankruptcy court. Debtors may have a new weapon soon, however, as the idea of re-financing these loans at lower rates is just getting started. According to Sheryl Harris in the Cleveland Plain Dealer, Charter One Bank in Ohio […]

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Chemical spills, student loans, and bankruptcy

There has been a wave of ill feeling spreading across social media in the wake of Freedom Industries’ chemical contamination of much of the drinking water in West Virginia recently, and there has been criticism of the firm’s recent Chapter 11 bankruptcy filing too, with the general idea that it is some obscure legal ploy […]

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Enormous growing problem with student loans next bubble to explode — or will it boomerang back to bankruptcy court?

Over the Easter weekend, a lot was written about the massive growing problem of student loan defaults — which some commentators think might soon approach the problems associated with the recent real estate crash. In an Associated Press article, William Brewer, president of the National Association of Consumer Bankruptcy Attorneys, “This could very well be […]

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Student loans and bankruptcy: a sticky situation

Recently I published an article over on AVVO about how debtors trying to get themselves out of student loans through a bankruptcy filing soon find themselves caught in a Catch-22 situation. You can read it here. It wasn’t always this way; up to the mid 1990’s, student loans were dischargeable in bankruptcy seven years after […]

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Student loan debtors need not go begging, and need not avoid bankruptcy either

If you have been looking into bankruptcy, and have a lot of student loan debt, you probably have discovered that it isn’t easy to wipe out these loans in bankruptcy court. Eliminating a student loan requires filing an adversary proceeding (a fancy name for a lawsuit) in addition to the basic bankruptcy case, and then […]

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Worried about your debts? Just be thankful you’re not a lawyer!

You think you have it bad? Something like this? “I don’t open the e-mail alerts with my credit score,” he adds. “I can’t look at my credit score any more.” But that’s not one of my bankruptcy clients talking — its a newly minted law school graduate. He’s only 27 years old, but has $250,000 […]

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Bankruptcy has a broad definition of what a student loan is

When it comes to student loans and bankruptcy, the news is typically grim all around. Student loans can’t be discharged through a typical Chapter 7 case, unless the debtor can prove they are an “undue hardship.” The procedure for claiming undue hardship involves filing suit against the lender and litigating with them; this will typically […]

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