Last month The Washington Post published this headline:
Biden administration promised bankruptcy reforms.
So why is it still fighting student loan borrowers in court?
While the administration withdrew its appeal to one of the hardship cases mentioned in the article, there is still widespread misunderstanding about bankruptcy and the student loan crisis – what can and can't be done.
Enter Bob's guest, bankruptcy specialist Pernell McGuire, who also serves as the managing partner of Arizona law firm Davis Miles McGuire Gardner.
Bob and Pernell break down what you need to know about the current crisis and what might be needed to solve it.
- Can you have your student loans discharged in bankruptcy?
- What does it take currently?
- What other programs exist today and what is being done/contemplated?
- Student loans add up to $1.75 trillion in debt! That's 20 percent of all U.S. debt.
- The Biden administration has pledged to address student loans and bankruptcy reform. In the meantime;
- Some have called for a moratorium on the Education Department opposing federal student loan borrowers bankruptcy requests until new laws and programs are adopted…will that happen?
- What about private student loans?
Give it a listen, and share with anyone you know who has student loan debt…