IDR Waiver – One Time Account Adjustment – This is a Really Big Deal and the Deadline is Fast Approaching!
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
6h ago
What is the IDR Waiver? The Short Version:  if you have an older FFEL loan, even a prior FFEL Consolidation Loan, make sure to consolidate this to a newer Direct Loan asap if you want all of the relief this program allows (contact us if you have any doubts or concerns about losing prior IDR time, interest rate increases, effects on PSLF etc.)  While the deadline to do so is May 1, the servicers are busy and it doesn’t pay to wait until the deadline!! For many years, student loan servicers steered struggling borrowers into forbearance instead of guiding them toward income driven repay ..read more
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What is the Brunner Standard for Discharging Federal Student Loans?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2d ago
The Brunner standard is a legal test used in certain circumstances to determine whether a borrower’s federal student loans can be discharged in bankruptcy. The test was established by the U.S. Supreme Court in the case of Brunner v. New York State Higher Education Services Corp. (1987). The Brunner test has three prongs: Hardship: The borrower must prove that repaying the loans would impose an undue hardship on the borrower and their dependents. The post What is the Brunner Standard for Discharging Federal Student Loans? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy A ..read more
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How do I Discharge Federal Student Loans?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
4d ago
There are several ways to discharge federal student loans, including: Total and Permanent Disability (TPD) discharge: If you are completely and permanently disabled, you may be eligible for TPD discharge. Death discharge: If the borrower of a federal student loan dies, the loan may be discharged. The post How do I Discharge Federal Student Loans? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more
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Receiving Messages that your BDTR Application is Past the Statute of Limitations or that you need Supporting Documents?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
5d ago
The Borrower Defense to Repayment (BDTR) program has undergone so many changes over the past decade it’s hard to keep track. Notably, I wanted to set the record straight for those who may be receiving weird messages about their pending BDTR apps. Only the 2019 Borrower Defense Rule imposed a statute of limitations on borrowers, and that rule only applied to loans that were issued after July 1, 2020– it does not apply to most of the BDTR applications. Unfortunately, when ED created its borrower defense application, it used a single application for all three standards without adequately differen ..read more
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Nationally Known Student Loan Attorney Offers YouTube Videos for What to Do
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
5d ago
Did you realize that we have free videos on what to do about your student loan on our YouTube Channel “Student Loan Sidebar”?  Here’s a post from a few hours ago from one of our followers: YouTube videos on student loan forgiveness have just been absolutely amazing. They break it down so it simple to understand. This whole thing has been so frustrating and these videos help to alleviate much of the anxiety I’ve had. Thank you!  David Lafont The post Nationally Known Student Loan Attorney Offers YouTube Videos for What to Do appeared first on Reboot Your Life: Tampa Student Loan a ..read more
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Least Sophisticated Debtor Test and Strict Liability Under the FDCPA
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1w ago
Consumer complaints in Florida have a few things going for them that can make them easy to prove. One of the things that benefits Florida consumers is our use of the “least sophisticated” debtor test. What does this actually mean? The post Least Sophisticated Debtor Test and Strict Liability Under the FDCPA appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more
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EIDL loan or grant — Payments Starting Soon — How to Discharge or Forgive?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1w ago
First, and I must stress, EIDL loans are not forgivable.  They were intended to help small businesses recover from the economic impacts of the Covid-19 pandemic. However, EIDL Advance funds are like grants and do not have to be repaid. More information is available on the SBA website:  https://www.sba.gov/funding-programs/loans/covid-19-relief-options/eidl The post EIDL loan or grant — Payments Starting Soon — How to Discharge or Forgive? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more
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Case Study – Consolidation Tips and Traps
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1w ago
I had a consult recently that is a good overview of what questions our clients have and how we are able to drill down to the essentials and help determine the best path forward to ending student loan debt.  This client reached out to us after viewing one of our Youtube Student Loan Sidebars where we go over the practical impact of new programs and what we see out there to help student loan borrowers. Client:  300k SL debt, mostly Direct, 23k FFEL.  Client has a pending consolidation app. Key concern:  How does IDR impact me?  Did PSLF Help Tool but still confused. The ..read more
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What are We Seeing Out There for Private Student Loan Settlements?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1w ago
All this talk about changes within the federal student loan system, I didn’t want to give the impression that nothing can be done with private student loans.  Just today, we have a client who accepted an offer to save $165,000 on his private student loans!   And this was not a lump sum settlement to be paid all at once.  The terms are the reduced balance is to be paid out over 27 years at a very low interest rate of 1%.  They payment is exceptionally low and finally affordable! So while a full discharge or 100% forgiveness may not always be possible with a private loan ..read more
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Bankruptcy is Good For Many Things: Mortgage Loan Mods, EIDL, SBA, Unforgiven PPP Loans and Finally Now Federal Student Loans!
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2w ago
Bankruptcy is not only for discharging credit cards! New DOJ procedures allow us now to discharge federal student loans attesting to an undue hardship.  We are co-presenting a webinar for the American Bankruptcy Institute on February 27 outlining this new program and helping our colleagues identify clients who may be eligible and learning how a bankruptcy filing can now discharge federal student loans. Also, folks are receiving notices to begin repayments of EIDL, SBA or unforgiven PPP loans.  Most of those loans are pretty sizable and can easily be discharged in a bankruptcy.  ..read more
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