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HomeBankruptcyTampa Scholar Mortgage and Chapter Lawyer Weblog — January 21, 2022

Tampa Scholar Mortgage and Chapter Lawyer Weblog — January 21, 2022


$1.8 Billion Navient Settlement — Are You Included?

 

Navient-AG-Settlement-Thumbnail-yldWe’re beginning 2022 off with excellent news. There’s a $1.8 billion scholar mortgage settlement between Navient (a mortgage servicer) and 39 totally different state lawyer generals.

Within the settlement, Navient agreed to “chorus from informing personal mortgage debtors that their loans are non-dischargeable in chapter.”

It’s about time! If different servicers proceed to falsely advise their debtors that chapter isn’t an choice, we might wish to file a misrepresentation lawsuit and procure damages beneath our shopper legal guidelines.

For an in-depth evaluation, our recording on the Navient Lawyer Basic Settlement ought to reply your questions.

Please subscribe to our channel when watching — this can permit us to proceed to supply free content material to assist these in want! We’re making an attempt to extend our viewership and hitting the “like” button and subscribing helps us loads. As all the time, thanks!

In different information, we wish to make clear any confusion on the beginning date for federal scholar mortgage funds.

For these with Direct loans or FFEL loans owned by the federal government, the date moved from February to Might 1. When you had a FFEL mortgage that was in default earlier than COVID-19, this contains you.

Do you’ve a FFEL mortgage that’s not in default or a FFEL mortgage that’s nonetheless owned by a 3rd get together?

Regardless that it’s a federal mortgage, your servicer ought to notify you of the beginning date, which is any day now.

Need to keep away from making funds till Might 1 and procure another aid {that a} Direct mortgage can provide?

Please contact us for a 1-on-1 session to see if consolidation is smart for you. There are execs and cons to doing so — please solely consolidate after understanding the advantages and potential pitfalls.

A last be aware: the variety of bankruptcies look like rising in 2022.

Because of the finish of mortgage and scholar mortgage forbearances and better residing bills, we suspect extra individuals will likely be submitting for chapter this 12 months.

Don’t overlook, we file chapter to clear the slate when crucial, and provide help with mortgages and foreclosures. When you want steerage on whether or not this selection is best for you, please e-book a session with us.

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