Lewis & Monroe, PLLC
Free One-Hour In-Office ConsultationsFree One-Hour In-Office Consultations

Posts tagged "student loans"

Bankruptcy relief may be coming to student loan debtors

In the sphere of national modern day politics, issues of debt and spending seem to dominate almost every discussion. One looming specter in many conversations of both private and government debt is the ever-increasing total of student loan debt. As the average amount owed by those pursuing or finished with higher education continues to rise, many are worried that these debts will make it impossible for future generations to prosper.

Student loan debt burden increases across the U.S.

While the economy is certainly better than it was at the end of 2007 when the financial crisis really hit the U.S., times are still tough for many Florida residents, especially those who are struggling to pay back student loans. In fact, when it comes to delinquency rates, failure to make payments is more of a problem with student loans than it is with credit card debt.

Unemployment and weak economy effects consumer debt

Going by current consumer debt numbers, while the economy is continuing to struggle, many are still taking on student loan and auto loan debt. The thought is that as the economy continues to improve, consumers will once again feel confident enough to take on credit card debt.

Student loan debt continues to increase

Student loan debt is rapidly spinning out of control. Students are borrowing tens of thousands of dollars for an education. Their plans are to graduate from college, get a good paying job in the career of their chosen field, and slowly start to pay back those loans over the next several years. And while of course this is an admirable goal to have, the truth is there is the risk of taking on student loan debt, not being able to find a job -- or finding a low-paying one not in the chosen field -- and not being able to pay back what was once borrowed.

Could bankruptcy help those struggling with student debt?

Although bankruptcy does not currently include the discharge of student loans, some are wondering if law changes could help those struggling with debt after college. For many residents in Florida and across the United States, debt comes from a variety of sources, such as credit cards, loans and house payments. Although bankruptcy can help with most of these debts, due to a 2005 law, student loans are excluded from bankruptcy. A recent report out by the Consumer Protection Bureau and the U.S. Department of Education suggests that Congress should reconsider the law as more and more people struggle to overcome student debt. But some wonder -- would it actually make a big difference?

Student loan debt and lower incomes effecting housing recovery

While student loan debt is surely a burden for a college graduate who is financially struggling, it turns out that this mounting debt is also a burden on the potential recovery of the housing market in Florida and around the rest of the country.

Push for student loan debt to be discharged in bankruptcy

While filing for a personal bankruptcy can lead to a new financial start, there seems to be an unfair disadvantage to those with student loan debt. However, a new report calls for changes to the bankruptcy laws to allow for more former students to be able to discharge all -- or at least some -- of their student loan debt.

Florida students may find some debt relief in proposed plan

In today's day and age, one of the main concerns surrounding the topic of debt relief is how people are supposed to financially afford going to school. Should they take out expensive student loans for a degree and risk not being able to pay it back? Or should they have a more pay-as-you-go approach, which could end up taking years and year to complete?

ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
Email Us For a Response

Contact The Firm In Orlando, Florida

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Lewis & Monroe, PLLC

651 Rugby Street
Orlando, FL 32804

Phone: 407-917-4147
Fax: 407-246-0008
Map & Directions