Student Loans & Bankruptcy

I was just talking with a friend of mine the other day, Damon Day; and he was mentioning that he is seeing more and more folks all across the country, who have attended these unaccredited schools and carrying an enormous amount of student debt.  I mentioned to him that I’ve already been in the bankruptcy […]

Taking a trip is exciting. You have a staring place [“Point A”] and a destination [“Point B”]. Along the way, is the “journey.” Getting from Point A to Point B is simple when it’s a road trip because we look at a map, or nowadays, we’ll just plug in our destination into our GPS system, […]

In today’s Los Angeles Times, Tom Petruno’s (@tpetruno) article entitled, Debt Threat Looms, again, he warns us of inevitable business cycles and where the economy is headed. You see, in order for the economy to move full steam ahead, we need to continue to spend money. The problem with that concept is that we’re so […]

Getting rid of those pesky, overwhelming student loans in bankruptcy just got a bit easier, thanks to a case in which an attorney won a bid to shed $250,000 in student debt. The case is In re Barrett, No. 14-43516; Barrett v. U.S. Department of Education Direct Loan Servicing Center et al., Adv. No. 14-4161, […]

Even though private student loans make up a fraction of the overall student loan debt in the United States, they pose a threat to our future economy for several reasons. First, nearly all of these loans are co-signed, which means we have multiple borrowers that have taken responsibility for repayment.  I’ve seen parents, in-laws, ex-spouses […]

In a recent Los Angeles Times article, entitled Degree of Debt, soaring student loan debt burden poses risk to economic growth. The article states that student loans can’t be discharged in bankruptcy, which is simply untrue. My firm alone, has discharged two student loans to date and many colleagues across the country are now taking […]

In a recent decision by Hon. Richard M. Neiter, United States Bankruptcy Judge in the Los Angeles Division of the Central District of California presiding, it was determined that loans taken for the treatment of a minor child for a drug addiction were dischargeable in bankruptcy. The decision came down on July 7, 2015 in […]

Earlier this month the Consumer Financial Protection Bureau (@CFPB) launched a public inquiry into student loan servicing practices.  Read their full press release here. It’s time your voice was heard.  From my experience, the main barriers to repayment continue to be a lack of information made available to students from the time they take out […]

In a recent Wall Street Journal (“WSJ”) (@WSJBankruptcyBeat) series on the Great Student Loan Debt Debate, several of their examiners discussed what to do about student loans in bankruptcy. Let’s start with the goal of bankruptcy, which is to help the HONEST BUT UNFORTUNATE DEBTOR, see the WSJ article here. This is a person who […]

With so many companies guarantying student loan debt forgiveness and using Obama’s words to market and sell their offerings, I thought I would set the record straight! YOU CAN HELP YOURSELF FOR FREE YOU CAN HIRE ONE OF THESE COMPANIES THAT MAY NOT BE LAWYERS; OR YOU CAN HIRE A LAWYER TO REPRESENT YOU Don’t […]