There are many strategies on how to deal with Student Loans in Bankruptcy. One of them is to try to file an Adversary Complaint to try to discharge the loans, based on the “undue hardship” standard. (the “Bruner” standard) Courts have had varying interpretations, and,
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How Bankruptcy Can Help with Overwhelming Medical Bills
One of the most common kinds of debt that I see when people consult with me is medical debt. Medical bills can quickly become overwhelming, especially when unexpected health issues arise. Even with insurance, the out-of-pocket costs can be substantial, leading many to seek relief
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The Current Status of the SAVE Student Loan Program Amidst Pending Lawsuits
Here at StudentLoanLawChicago.com, we have been helping people get into the best possible Income Driven Repayment Plan for their Federal Student Loans, and on the path to getting their loans forgiven. Contact us HERE for more information on YOUR loans. The Saving on a Valuable
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The Risks of Delaying Bankruptcy: What Can You Lose?
Financial difficulties can be overwhelming, and the decision to file for bankruptcy is never an easy one. However, delaying this decision can often lead to more problems. This post aims to shed light on the potential issues that debtors may face if they postpone filing
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Deadline Extended: Consolidate Federal Student Loans by June 30th
Don’t Miss Out on Loan Forgiveness Opportunities At BankruptcyLawChicago, we keep you up to date on all of the latest ways for you to save money on your Student Loans, and get them forgiven sooner! The Biden-Harris Administration has just announced an extension to the
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How to Take Control of Your Federal Student Loans and Get Them Forgiven!
What is next for Federal Student Loan Borrowers? Repayment is in full swing, and borrowers can get their loans under control and closer to forgiveness than ever before. These plans apply to Federal loans for the student and parents. I am here to help with
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Should the Small Business or the Owner File for Bankruptcy?
This is a question that comes up frequently in my practice. A person owns a closely-held business, with one or two owners, usually a Husband and Wife. They call, explaining that the business cannot pay its suppliers, lenders, landlords, lines of credit. They ask “Can
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If I file for Bankruptcy Protection, Do I have to Include all of my Debts? Yes!
One of the most common questions that people have when they are considering filing for bankruptcy is whether they have to include all of their debts in their bankruptcy case. The answer is yes, you do. I do not know why almost every client that
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The IDR Waiver: A Game-Changer for Student Loan Forgiveness
Lately, there have been very important developments in the world of Federal Student Loan Repayment Plans. This program was set to expire at the end of 2023, but it has been extended. The IDR Waiver, also known as the IDR Account Adjustment, is a significant
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Empowering Borrowers: The First Month After the Student Loan Payments Resumed
The resumption of student loan payments has been a hot topic in recent months, as many borrowers felt the pressure of the impending restart of their financial obligations. For many, the COVID-19 pandemic brought financial uncertainty and relief in the form of temporary payment pauses.
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