New DOJ procedures permit us now to discharge federal pupil loans testifying to an undue hardship. We’re co-presenting a webinar for the American Chapter Institute on February 27 outlining this new program and serving to our colleagues determine purchasers who could also be eligible and studying how a chapter submitting can now discharge federal pupil loans.
Additionally, of us are receiving notices to start repayments of EIDL, SBA or unforgiven PPP loans. Most of these loans are fairly sizable and may simply be discharged in a chapter. We don’t advocate ready to file. Because it stands now, we don’t anticipate any challenges that these loans had been fraudulently obtained, however that would change with a future administration.
Lastly, mortgage mortgage mods are far simpler to acquire in chapter to keep away from a foreclosures. Foreclosures filings are on the rise, and it’s normally greatest to deal with mortgage mods and different dwelling retention choices in chapter court docket moderately than attempting to defend a case in state court docket.