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Search resuls for: "Latife"


3 mentions found


☆ Student loan borrowers may find bankruptcy harder under Trump
  + stars: | 2024-12-04 | by ( Annie Nova | ) www.cnbc.com   time to read: +2 min
Damircudic | E+ | Getty ImagesMore federal student loan borrowers have been able to get their debt discharged in bankruptcy over the last few years, thanks to new guidance that the Biden administration has issued. "The Trump Administration is likely to rescind this guidance," Kantrowitz said, referring to the Biden administration's looser rules for student loan borrowers in bankruptcy. Latife Neu, a bankruptcy lawyer in Seattle, said she wasn't sure bankruptcy would necessarily become more difficult for student loan borrowers under Trump. "There is a surprising amount of consensus across the political spectrum," Neu said, that the higher bar for student loan borrowers to get their debt discharged in bankruptcy is "a defective policy." In the 1970s, lawmakers added a stipulation that student loan borrowers needed to wait at least five years after they began repayment to file for bankruptcy.
Persons: Biden, Donald Trump, Trump, Malissa Giles, Giles, We're, Mark Kantrowitz, Kantrowitz, Latife, Neu Organizations: Finance, Trump Administration, Biden, Trump, U.S . Department of Education, U.S . Department of Justice Locations: Virginia, Europe, Seattle
☆ Elizabeth Warren wants more student loan borrowers to know bankruptcy is easier now
  + stars: | 2024-05-23 | by ( Annie Nova | ) www.cnbc.com   time to read: +1 min
Julia Nikhinson | ReutersDischarging student debt in bankruptcy is now easierThe new guidance has already led to changes. In the first 10 months of the Biden administration's more lenient process, student borrowers filed more than 630 bankruptcy cases, a "significant increase" from recent years, it reported last year. Many borrowers are 'not aware' of changesYet Warren says more work still needs to be done. "More than 43 million borrowers in the United States carry a total of $1.6 trillion in student loan debt, and more than 2 million borrowers have been repaying those loans for at least 20 years," Warren and Whitehouse wrote. "DOJ and ED must work harder to encourage borrowers to seek relief — and deliver on that relief when requested," they added.
Persons: Elizabeth Warren, Julia Nikhinson, Biden, I've, Neu, Warren, Whitehouse Organizations: Intelligence, U.S, Capitol, CNBC, DOJ, The, of Justice and Education Department Locations: Washington, Seattle, United States
☆ A student-loan borrower just got $78,000 in debt wiped out in court after 3 decades of repayment following Biden's new bankruptcy guidance
  + stars: | 2023-04-26 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Zena Dodson, a borrower with $78,000 in student debt, just got her loans discharged via bankruptcy. The relief follows new Education and Justice Department reforms to the bankruptcy process last year. But Biden's Education and Justice Department guidance last year streamlined the process for student-loan borrowers to receive relief through bankruptcy, which helped get Dodson her relief. "For too long, the federal government was fighting borrowers in bankruptcy court based on overly-stringent guidance," Ament said. "We're hopeful these new policies give more student loan borrowers like Ms. Dodson a chance at a financial fresh start."
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