More than a $1.25 Million in Student Loans Discharged or Forgiven!

In only a year and a half, Giles & Lambert, PC has achieved forgiveness or discharge for a total of $1,282,998 in student loans for our clients. With our current unprecedented success in this area, we expect to discharge or achieve forgiveness for more than $2,000,000 in student loans by the end of this year!

In the past it was nearly impossible to discharge student loans, but now circumstances have changed and many loans can be discharged through a separate lawsuit or adversary proceeding.  The US Department of Education announced this position change in late 2022 and we have already used it to discharge student loans ranging from $10,000 to $200,000 per individual.

One of our own attorneys, Malissa Giles is one of the first and most successful attorneys to aggressively implement the new bankruptcy discharge option. Malissa has spoken regionally, statewide and nationally on panels for other attorneys on how to use the new approach to help clients. As a leader in the field, she has been interviewed by The New York Times and CNBC, and quoted in other national articles, for her work, including the new May 23, 2024 CNBC article.

Read the articles here:

https://www.cnbc.com/2024/05/23/elizabeth-warren-wants-student-loan-borrowers-to-know-bankruptcy-is-easier-now.html

https://www.nytimes.com/2023/08/09/your-money/student-loan-bankruptcy-discharge.html

https://www.cnbc.com/2024/03/12/biden-makes-it-easier-to-forgive-student-debt-in-bankruptcy.html

https://www.dailymail.co.uk/yourmoney/consumer/article-13197427/Biden-student-loan-bankruptcy-policy-forgive-debt.html

https://www.thisismoney.co.uk/yourmoney/consumer/article-13197427/Biden-student-loan-bankruptcy-policy-forgive-debt.html

Do You Qualify?

In late 2022, there was a shift in the Department of Education’s student loan discharge criteria for loans held or guaranteed by the DOE.  Essentially if your income is a certain level, if your loans have been in repayment for at least 10 years, OR if certain other factors exist such as the school closing or other elements or hardship, the DoE attorneys are directed to agree to the hardship discharge and not contest the case. (This is a 180 degree shift from the prior policies.)  

Other factors which will weigh in favor of a discharge even if your loans are not older than 10 years:

  • You had to withdraw from school and were unable to complete your degree
  • Your school closed
  • You are unable to work in the field in which your degree was obtained which impacts your earning potential
  • A medical or physical disabilty which impacts your ability to use the degree and earn sufficient funds to pay on the loans
  • Any other extraordinary factors which the governent should consider in considering a discharge of the loan

If resuming your student loan payments has made 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.

In only a year and a half, Giles & Lambert, PC has achieved forgiveness or discharge for a total of $1,282,998 in student loans for our clients. With our current unprecedented success in this area, we expect to discharge or achieve forgiveness for more than $2,000,000 in student loans by the end of this year!

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