Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. A federal loan forgiveness program made a promise to students: Stick with your vital but low-wage professions and your debts will be wiped clean. Then they weren’t. WASHINGTON — When Congress created a student loan forgiveness program in 2007, lawmakers wanted to draw people to vital […]
For some consumers, bankruptcy is the solution to crushing debt
Although student loan debt is difficult to discharge in bankruptcy, most other forms of consumer debt can be eliminated or reduced. One of the biggest downsides to bankruptcy is the hit to your credit report, because it remains there for seven to 10 years. Consulting with a bankruptcy attorney — often for free — can […]
Think Students Can’t Declare Bankruptcy? Think Again
Bankruptcy is supposed to give debtors a fresh start—unless they’re struggling with student loans. But a little-known provision is helping these borrowers take their creditors to court. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. In 2005, Chuck Stewart’s life had come to a screeching halt. His partner was in the hospital with a […]
