If you live in Fort Lauderdale or the Southern District of Florida, the bankruptcy court is gearing up to implement a student loan management program within the bankruptcy court. Similar to the mortgage modification program that was wildly popular during the real estate crisis a few years back, this program is aimed to help people that are struggling with student loan debt along with credit card debt, medical bills and are seeking debt relief.
The Fort Lauderdale Student Loan Management Program is NOT a Way to Discharge Your Student Loan DebtUnder current bankruptcy law, it is nearly impossible to get student loans eliminated. We are keeping a close eye on Congress though and will be updating this website if they amend the bankruptcy code to allow the discharge of student loans. We are hopeful that they might given the fact that a congressional bill allowing the elimination of student loans was introduced last year. This year’s congress appears to be more willing to help people with overwhelming student loan debt. Keep checking back for updates!
Student Loan Modification Program in Bankruptcy CourtA similar program has been underway in the Middle District of Florida’s bankruptcy court for a couple of years now. Some of the highlights of the Orlando student loan program are:
That is the biggest question out there today. I can tell you that the Bankruptcy Law Firm of Orfelia Mayor is actively monitoring this congressional session for any signs that student loans will be eliminated in future bankruptcy cases. Student loans have become one of the major financial pressure points for today’s families and we are hopeful that student loan relief through bankruptcy will find its way back into the bankruptcy code. Before the 2005 BACPA bankruptcy code amendment, student loans were dischargeable in bankruptcy if certain criteria were met. Student loan creditors apparently had the better lobbyists back in 2005 and they were able to get dramatic changes to the bankruptcy code that prevented the continuing discharge of student loans through bankruptcy. In 2021, things have changed and student loan debt is consuming monthly budgets and keeping young families from buying homes or creating the generational wealth that their parents were able to do.
Fort Lauderdale Student Loan Management Program Software LinkWe’ve already signed up to participate in the Fort Lauderdale bankruptcy student loan management program. If you want to take a sneak peak at the student loan management software preparation – click here!
Experienced Fort Lauderdale Bankruptcy Lawyer Near You!The Bankruptcy Law Firm of Orfelia Mayor is a debt relief agency in Fort Lauderdale. We help people file for bankruptcy under the bankruptcy code. The student loan management program is a new program that we are very excited to share with you! You can also benefit from bankruptcy if you need to stop wage garnishment, stop foreclosure sales, and a bankruptcy can stop car repos too. Your creditors have lawyers on their side – shouldn’t you have a lawyer too?
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