Student Loan Legislation
Posted: Wed Feb 26, 2014 6:20 am
Jeffrey:
*It has also been my observation that trying to figure out the origin of a
student loan borrower's student loans--federal, private, subsidized,
unsubsidized, consolidated, not consolidated, etc., etc., is virtually
impossible.*
Here is how you find out about the loans:
1. All federal loans are listed in the National Student Loan Data System
at www.nslds.org
Debtors get a PIN and don't share it with anyone. They access this
database and print out all the data on their federal loans.
The data will tell you "sub" "unsub," whether they are consolidated and
provide the lender, servicer and guarantor information.
Any loan NOT listed in this database are PRIVATE.
I hope this helps.
Christine
On Tue, Feb 18, 2014 at 9:33 AM, Jeffrey Hagen wrote:
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> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Shannon Doyle
> *Sent:* Wednesday, February 12, 2014 2:04 PM
> *To:* cdcbaa@yahoogroups.com
>
> *Subject:* [cdcbaa] Student Loan Legislation
>
>
>
> Hello Colleagues,
>
> I am attending a meeting with Congressman Lowenthal's staff next week to
> convince the Congressman to co-sponsor H.R. Bill 532 - the proposed bill
> to make *private* student loans dischargeable in bankruptcy. Please let
> me know if you have any good stories of debtors who need this help. The
> pushback on this bill is that people will take advantage of it and try to
> avoid paying their student loan debt but we know that is not the case. I
> want to bring to them real life stories of unexpected life traumas and
> hardships, unemployment or underemployment, fly-by night schools, parents
> who are struggling because they co-signed, disability, death, divorce,
> lending abuses to young unsophisticated students, etc... Thank you!
>
> Shannon A. Doyle
>
> *Shannon:*
>
>
>
> *I have a section of my website devoted to student loan debt and how such
> debt can be discharged in bankruptcy, and so I get a rather large number of
> inquiries from student loan borrowers and guarantors about using bankruptcy
> to discharge student loans on undue hardship grounds.*
>
>
>
> *The following are those student loan inquiries I've received in the past
> ninety days:*
>
>
>
> *Sunday 020914 at 0716am, e-mail from "Del F," stating:*
>
>
>
> *30 year old, $50,000 defaulted student loan NEEDS to be discharged.*
>
>
>
> *Wednesday 012914 at 0326PM, e-mail from "Felicia" stating:*
>
>
>
> *I am 24 years old and owe over $100k in student loan debt, but only make
> $11.75 an hour. I'm in the red every month and just can't get any relief.
> I am wanting to file for bankruptcy. I know student loans are not usually
> discharged, but I am wondering if you have any experience of them being
> discharged or reduced. Any information would help greatly.*
>
>
>
> *Monday 012714 at 0240pm, e-mail from "Kate ___," stating:*
>
>
>
> *I have $106,000+ in student loan debt. It is continuing to grow despite
> the payments I have been making for almost 2 years. I was unemployed last
> year, still made payments and now that I have found steady income, it still
> seems that there isn't a solution to be able to afford life and actually
> make a dent in these loans. Any help would be greatly appreciated.*
>
>
>
> *Sunday 012614 at 0101pm, e-mail from Dana ____, stating:*
>
>
>
> *I signed as a guarantor for my niece's student loans and she is not
> paying any of them. I want to know how we can make her legally responsible
> of paying off these student loans. She is 32 years old. I need legal
> advice as I do not have the means to pay for this. Thanks...*
>
>
>
> *Tuesday 012114 at 0128pm, e-mail from Angelene ____, stating:*
>
>
>
> *I was advised to email you with my question because you could guide me to
> the correct answer. I file bankruptcy of last year and it discharged last
> year in November. I received a letter from the Dept of Ed stating that my
> mom did not discharge. When I contacted them about the new axe that it
> went through in 2005 as well as I think there's a new actually came out
> with the President Obama I'm more than qualified for my loan to be
> discharged because financially I only have $300 a month and I have 2 kids
> and im homeless. I received the waiver from the judge I just don't
> understand why I did not get the student loan discharged. I call the Dept
> of Ed and they stated that I needed to get a letter from the judge stating
> that it was discharged, so I call the bankruptcy court to get an
> appointment so that I can speak to the judge in reference to this matter
> and I was advised that I neeeded to contact a bankruptcy attorney to find
> out what form I needed to file to submit to the judge. however when I
> contacted your office today and I spoke to the receptionist she advised
> that I needed to email you because I was supposed to see you the US Dept of
> Ed to my bankruptcy and I don't know what to do at this point.*
>
>
>
> *Please contact me at your earliest convenience...*
>
>
>
> *Tuesday 010714 at 0913am, email from Vivien ____, stating:*
>
>
>
> *I cannot afford my student loans. I pay ALL my paycheck and now they
> want more than double that.*
>
>
>
> *Friday 010314 at 0846am, e-mail from Michael ____, stating:*
>
>
>
> *seeking chapter 7 bankruptcy due to issues in 2013 laid off - $110k
> annual divorced with alimony $2500 month graduated with PhD - $350k school
> loan debt new job - monthly income of $5100 50 years old*
>
>
>
> *Can you help?*
>
>
>
> *Monday 123013 at 0417pm, e-mail from Mozelle ____, stating:*
>
>
>
> *I have a lot of debt even though I made money last year Still passed the
> BK test by 500.00 in 2013 income (it is the most I have ever made) I was
> unable to finish school and now have a lot of debt just sitting on my CBR
> even if I could get some of it excused it would give me relief. I am a
> single parent and finances are hard enough.*
>
>
>
> *Really need a fresh start a majority of my debt is student loan debt
> though I cant pay most other firms will not even discuss or explore
> discharging this type of debt*
>
>
>
> *Wednesday 122513 at 1152am, e-mail from Ted ____, stating:*
>
>
>
> *I have a huge student loan debt (30k) from when I was in school in the
> late 90's, after I was discharged honorably from Desert Storm (I'm a vet).
> I cannot pay it off. I have a lot of things I need to pay off and they
> will start hounding me soon.*
>
>
>
> *Sunday 122213 at 0405pm, e-mail from Joshua ____, stating:*
>
>
>
> *I have over 100,000 in student loan debt and want to file bankruptcy on
> them. Obviously, since I'm filing bankruptcy I do not have a lot of money,
> but I need help.*
>
>
>
> *Wednesday 120413 at 0506pm, e-mail from Patricia ____, stating:*
>
>
>
> *Hi Jeff, My son and I are looking for a lawyer. He just graduated from
> college in May 2013. He took out unsubsidized loans to pay for college.
> His monthly payment is approximately 1,900.00. Fortunately he has a job,
> but finds it difficult to pay that amount in a monthly basis. His first
> payment is suppose to be on December 16, 2016. We need advice on how to
> handle this matter. Thank you for your time.*
>
>
>
> *Sunday 112413 at 0242pm, e-mail from Steven ____, stating:*
>
>
>
> *My wife and I owe over $200,000 in student loan debt, about $15,000 in
> consumer debts, and have 2 financed vehicles which are current.*
>
>
>
> *My wife and 2 kids have been struggling tremendously through the last 6
> years. I have been battling mental and physical issues that have really
> gotten in the way of completing my graduate education and sustaining
> gainful employment.*
>
>
>
> *My wife recently lost her job on February 28, 2013, and has been living
> off of unemployment and has been seeking employment since. We've relied
> extensively on family support throughout the past 6 years.*
>
>
>
> *We would like to discuss how much it would cost to attempt to discharge
> some of our student loan debt?*
>
>
>
> *Sunday 111713 at 0135pm, e-mail from Jennifer ____, stating:*
>
>
>
> *I am a career teacher with 16 years teaching in the inner city of both NY
> and now LA. I have fallen into default on my student loans. When I
> graduated with my MA in teaching in NY the original loan back in the 80's
> and 90's was 45k. It has now ballooned to 189k with tagged on penalties and
> fees. I made a 500 dollar payment to Van Ru credit corp because they
> threaten to garnish my wages at 15-25% and come on....I am a LAUSD teacher
> please I do not have that kind of money. When I took my loans out the
> interest rates charged to students even by the feds was 8 and 9% and I am
> now in my mid 40's. it is criminal the loan was 45k and now 189k. Wow! Is
> this the America I live in that does this to a civil servant. I know there
> is teacher loan forgiveness pay for 10 years their amount wanted then
> forgiven the problem with this amount of debt they want almost 1000 a month
> on my teacher's salary for 10 years. No I cannot afford that and live a
> basic life in LA. I feel a judge would be sympathetic to this debacle. Most
> like public teacher and I work with the very poor children of LA. I work at
> an elementary school in South LA. I have 2 master's degrees from NY
> colleges and am a highly qualified teacher (the kind they say they want to
> attract to the profession but don't want to adequately pay them a living
> wage based on their advanced schooling). I have other debt and 2 years ago
> did a short sale on a small home I bought on the Big Island of HI before
> they market crashed in 07. I welcome any help. They are reducing me to
> poverty. I will flee this country before I let them rob me of having a
> decent quality of life. It took me 16 years to raise my salary to my
> current level and now they want to take over half monthly, who cares about
> teacher student loan forgiveness when they want for 10 years half my wages
> each pay period. If you have any advice or want to talk please lets talk. I
> feel this loan given the right judge and background work could be forgiven
> in the court system. Really a LAUSD teacher can repay a student loan of
> 189k??? It's a joke to ask...or to garnish my wages to the full extent of
> the law as they threaten. I had always kept in touch with Direct Loan and
> did many things during these years but pay their outrageous monthly
> payments.....I exhausted all avenues and it fell into default. Where I sit
> with one payment. I cannot live paying them this amount. It's time I
> address this issue more seriously because I cannot work anything out to
> what works for me, paying 200 a month forever. That's it and all I can
> meaningfully afford. They don't want just that though on a 189k loan. NO!
> They want over 1000. Well please I hope to hear from you. Thank you! I read
> all the time on this am very informed. Please know I know all the in's and
> out's no novice here. Thank you, Jennifer*
>
>
>
> *Those are the student loan e-mails I've received in just the past ninety
> days.*
>
>
>
> *As you are no doubt aware, the vast majority of the student loan
> borrowers who make such inquiries can demonstrate that it would be
> difficult to repay their student loans, but only a precious few are really
> able to satisfy the three-prong undue hardship test needed to convince a
> bankruptcy judge that such loans ought to be discharged. And of those few
> who might be able to successfully demonstrate undue hardship, only a small
> percentage of those are able to afford to wage the battle or have enough
> dollars at stake to make such a battle cost effective.*
>
>
>
> *It has been my observation that without institutionalized consolidation
> programs available for private loans, and without as tight of regulations
> as the federal loans, the private loans are often the most aggressive with
> student loan borrowers, and the more difficult to settle in
> nondischargeability litigation.*
>
>
>
> *It has also been my observation that trying to figure out the origin of a
> student loan borrower's student loans--federal, private, subsidized,
> unsubsidized, consolidated, not consolidated, etc., etc., is virtually
> impossible.*
>
>
>
> *As a consumer debtors' attorney, I of course strongly support any
> legislation that would alleviate the pain, misery and frustration that
> student loan borrowers are experiencing out there. Private loans are
> certainly a good place to start. I suspect, however, that Congress,
> knowing that making private student loans dischargeable in bankruptcy would
> result in far fewer banks being willing to make those loans in the first
> place, and thereby shifting more of the burden of guaranteeing such loans
> onto the federal government, will be reluctant to do so. I hope that I'm
> wrong and that Congress will be willing to move forward and pass
> appropriate legislation.*
>
> *Jeff*
>
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>
>
>
>
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Christine A. Wilton, Esq.
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Jeffrey: It has also been my observation that
trying to figure out the origin of a student loan borrower's student
loans--federal, private, subsidized, unsubsidized, consolidated, not
consolidated, etc., etc., is virtually impossible.Here is how you find out about the loans:
1. All federal loans are listed in the National Student Loan Data System at www.nslds.org
Debtors get a PIN and don't share it with anyone. They access this database and print out all the data on their federal loans.
The data will tell you "sub" "unsub," whether they are consolidated and provide the lender, servicer and guarantor information.
Any loan NOT listed in this database are PRIVATE.I hope this helps.
Christine
On Tue, Feb 18, 2014 at 9:33 AM, Jeffrey Hagen <jeff@hagenhagenlaw.com> wrote:
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Shannon Doyle
Sent: Wednesday, February 12, 2014 2:04 PMTo: cdcbaa@yahoogroups.comSubject: [cdcbaa] Student Loan Legislation
Hello Colleagues,I am attending a meeting with Congressman Lowenthal’s staff next week to convince the Congressman to co-sponsor H.R. Bill 532 – the proposed bill to make private student loans dischargeable in bankruptcy. Please let me know if you have any good stories of debtors who need this help. The pushback on this bill is that people will take advantage of it and try to avoid paying their student loan debt but we know that is not the case. I want to bring to them real life stories of unexpected life traumas and hardships, unemployment or underemployment, fly-by night schools, parents who are struggling because they co-signed, disability, death, divorce, lending abuses to young unsophisticated students, etc… Thank you!
Shannon A. Doyle
Shannon: I have a section of my website devoted to student loan debt and how such debt can be discharged in bankruptcy, and so I get a rather large number of inquiries from student loan borrowers and guarantors about using bankruptcy to discharge student loans on undue hardship grounds.
The following are those student loan inquiries I've received in the past ninety days:
Sunday 020914 at 0716am, e-mail from "Del F," stating:
30 year old, $50,000 defaulted student loan NEEDS to be discharged.
Wednesday 012914 at 0326PM, e-mail from "Felicia" stating:
I am 24 years old and owe over $100k in student loan debt, but only make $11.75 a
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