A Bankruptcy Law Firm and Federal Debt Relief Agency
ATTENTION PARENTS WHO CO-SIGNED THEIR ADULT CHILDRENS STUDENT LOAN DEBT OR TOOK OUT PARENT-PLUS LOANS!!!!!!
DISCHARGE OF STUDENT LOAN DEBT IN CHAPTER 7
**NOTICE**
The Department of Justice (DOJ) through coordination with the Department of Education (DOE) has announced new guidance for its attorneys on how to better consider whether or not a Debtor is entitled to receive a discharge of student loan debt – regardless of any mental of physical disability.
01
Disability No Longer Required
Under the new guidelines, a Debtor can seek a Chapter 7 Discharge of Student Loan Debt by filing a Chapter 7 case and filing a lawsuit against the DOE to determine if you qualify based on plain and simple economic hardship – NOT just mental or physical disability.
02
In a Nut Shell – can we demonstrate that
YOU HAVE A PRESENT INABILITY TO PAY – that is, if you were forced to pay a student loan debt you would have to sacrifice a necessary living expense – as in – pay the student loan payment and don’t eat for a week or two!
03
In a Nut Shell – can we demonstrate that
YOUR INABILITY TO PAY IS LIKELY TO PERSIST
(1) Is the debtor age 65 or older;
(2) Does the debtor have a disability or chronic injury impacting their income potential;
(3) Has the debtor has been unemployed for at least five of the last ten years;
(4) Did the debtor fail to obtain the degree for which the loan was procured; and
(5) Has the loan has been in payment status other than ‘in-school’ for at least ten years.
04
EVEN UNDER THE NEW GUIDELINES IT AIN’T EASY!
Derrick B. Hager has experience assisting debtors in discharging student loan debt. Knowing how to file the lawsuit against the DOE and how to get proper service on the DOE is important. Knowing how to present the case and how to manage frequently complicated discovery and motion practice is key to success.
Don’t get roped into paying the jump-on-the-band-wagon bankruptcy attorneys whose only goal is to maximize your fees. Go with knowledge and go with experience. Call today for a FREE initial consultation
630-587-7490
