Giles & Lambert PC has achieved forgiveness or discharge for a total of $447,000 in student loans for their Chapter 7 and 13 debtors this year and we expect to discharge more than $1,000,000 in student loans by this time next year.
The United States Department of Justice and Department of Education recently expanded their position on federal student loans in bankruptcy cases to provide relief for more individuals who owe federally held or guaranteed student loans.
In the past it was nearly impossible to discharge student loans, but now circumstances have changed and many loans can be discharged. The US Department of Education has announced a new program to discharge student loans through bankruptcy, which we have already used to provide relief to a lot of folks.
Malissa Giles is one of the first attorneys nationwide to aggressively implement this new program and was recently interviewed by the New York Times for her work in this area. Read the article here: https://www.nytimes.com/2023/08/09/your-money/student-loan-bankruptcy-discharge.html. She has spoken regionally, statewide and nationally on panels for other attorneys on how to use the Guidance to help clients.
If Chapter 7 or 13 clients qualify based on their current income and a few other factors, then the US Department of Education and US Department of Justice will agree that your student loans can be discharged. Giles & Lambert has already achieved multiple discharges for clients since the guidance was announced. Lots of folks qualify based on income.
The change does only applies to federal loans (not private loans) and the qualified debtors will have loans that are usually a) more than 10 years old, OR b) for a degree which they were unable to complete, OR c) for a school that closed, OR d) have other extenuating factors that demonstrate why the loan should be discharged at this time.
If resuming your student loan payments will make life tough financially, contact Giles & Lambert PC for your free consultation to determine if we can help you discharge the student loans and live a more stress free life.
Giles & Lambert PC has achieved forgiveness or discharge for a total of $447,000 in student loans for their Chapter 7 and 13 debtors this year and we expect to discharge more than $1,000,000 in student loans by this time next year.
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