Best Bankruptcy Lawyers near Clarkstown, NY

THE DOOR THAT BARS STUDENT LOANS FROM BEING DISCHARGED IN BANKRUPTCY JUST CRACKED OPEN!nnThis may be the biggest news in bankruptcy law since the loss mitigation program for homeowners was introduced after the housing crisis in 2007-2008. The United States Bankruptcy Court for the Southern District of New York announced on Monday the creation of what may be the first in the nation Student Loan Mediation Before Litigation Program. nnAs most people know, student loans have long been non-dischargeable in bankruptcy absent a showing of extreme undue hardship.nnSimilar to the home owner loan modification, the Southern District Bankruptcy Court has gotten most major student loan lenders to engage in the modification process. While student loans remain non-dischargeable, this new groundbreaking program now exists to assist bankruptcy debtors in the effort to change the terms of their student loans. This may include forgiveness of a portion of the debt, lowering the interest rate and extending the terms of student loans.nnIf you, like so many others, are bogged down in student loan debt give me a call. Student loan default is a national crisis. New Yorkers may now have some relief available. These are new waters and you need an experienced attorney to guide you through them. Rely on my 35 years of legal experience.