Did you know that the Bankruptcy Court for the Middle District of Florida will be the first bankruptcy court in the Country to roll out a program designed to help borrowers repay student loans in a bankruptcy?
As of October 1, 2019, the US Bankruptcy Court for the Middle District of Florida will begin to offer a modification program within the bankruptcy to help borrowers negotiate and reduce the amount of their student loan payments.
Student loans are still non-dischargeable under the bankruptcy code but, like the mortgage modification mediation program, the bankruptcy court hopes that the Student Loan Management Program - SLM or SLM Program - will help student loan borrowers who might otherwise be forced into bankruptcy because they are unable to repay their student loans.
This week’s episode of The Crushing Debt Podcast explains the bankruptcy court’s order and explains how the program is going to work.
Are you struggling with your student loan payments? Do you know someone who is struggling to make their student loan payments? Please refer them to us. We now have another tool to help them manage their student loans! Shawn@YesnerLaw.com or www.YesnerLaw.com.