March 2023

Biden Administration Makes It Easier To Have Debt Discharged Through Bankruptcy

Biden Administration Makes It Easier To Have Debt Discharged Through Bankruptcy
Biden Administration Makes It Easier To Have Debt Discharged Through Bankruptcy

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While certain student loan borrowers can use the bankruptcy process to have their loans discharged, the process has been very cumbersome — but this might change thanks to new guidelines.

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In January, the Justice Department updated the attestation form that borrowers must complete to seek bankruptcy discharge of their federal student loans, Forbes reported. These changes include “tweaks to the reporting of monthly household income, clarifying instructions regarding when a borrower needs to provide additional information, new questions seeking details on whether a school closure impacted a borrower’s ability to repay their student loans, and more detailed information on a borrower’s student loan repayment, deferment, forbearance, and consolidation history.”

In addition, the updates stated that if the borrower is disabled, the disability does not have to be “permanent,” only “chronic” to potentially be a basis for a bankruptcy discharge.

This comes on the heels of the Department of Justice (DOJ), in conjunction with the Department of Education, issuing new guidance to simplify the process and establish standards for borrowers who seek

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March 23, 2023 by ATTORNEY

Wantafreshstart Bankruptcy Attorneys Help Clients Rebuild Cr…

(MENAFN- EIN Presswire)

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WantAFreshStart Bankruptcy Lawyers Helps Clients Rebuild Their Credit and Financial Future After Bankruptcy

GILBERT, ARIZONA, UNITED STATES, March 19, 2023 /einpresswire.com / — WantAFreshStart, a leading bankruptcy law firm in gilbert , is pleased to announce that their team of experienced bankruptcy attorneys is now offering clients comprehensive credit rebuilding assistance following the bankruptcy. The law firm’s innovative approach to post-bankruptcy credit rebuilding is designed to help clients rebuild their credit scores and regain financial independence quickly.

Bankruptcy can be a complex and stressful process, often leaving individuals with damaged credit scores and a sense of uncertainty about their financial future. The team at WantAFreshStart understands the difficulties that clients face after filing for bankruptcy and is committed to providing personalized and effective solutions to help clients rebuild their credit and regain control of their finances.

‘At WantAFreshStart, we believe that everyone deserves a second chance. Bankruptcy is not the end of the road, and with the right guidance, our clients can recover from financial setbacks and achieve their goals,’ said a spokesperson for the law firm.

The law firm’s credit rebuilding services are designed to help clients understand the factors that affect their credit

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March 22, 2023 by ATTORNEY

Albany Diocese says pension fight not why it filed for bankruptcy

SCHENECTADY — When the Roman Catholic Diocese of Albany filed for Chapter 11 last week, it noted that its outstanding litigation with state Attorney General Letitia James and others over the collapse of the St. Clare’s Hospital pension plan is not the reason why it sought bankruptcy protection.

Rather, it was the more than 440 lawsuits that have been filed against the diocese under the state’s Child Victims Act since 2019 — 50 of which have been settled — that prompted the diocese to file for bankruptcy.

The diocese does acknowledge the ongoing St. Clare’s litigation, albeit briefly, in its bankruptcy papers filed March 15 in U.S. District Court in Albany.

But the papers note that the St. Clare’s cases, which have been consolidated in state Supreme Court in Schenectady for both discovery and trial, were “not a precipitating cause” of the bankruptcy as might be assumed.

In fact, the diocese went out of its way to try and assure St. Clare’s pensioners in a press release issued last week that the pension lawsuits are “not the diocese’s purpose for filing” Chapter 11, although it will have the effect of putting the pension litigation “on hold” during the bankruptcy

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March 21, 2023 by ATTORNEY

NY diocese facing flood of lawsuits files for bankruptcy

NY diocese facing flood of lawsuits files for bankruptcy

ALBANY, New York — The embattled Catholic Diocese of Albany became the latest diocese in New York to seek bankruptcy protection Wednesday as it faces hundreds of lawsuits alleging sexual abuse.

Bishop Edward Scharfenberger announced the Chapter 11 filing after months of negotiations between the upstate New York diocese and lawyers representing plaintiffs over a potential settlement.

The Albany diocese, like others in the state, is dealing with a deluge of lawsuits dating to when New York temporarily suspended the statute of limitations to give victims of childhood abuse the ability to pursue even decades-old allegations against clergy members, teachers, Boy Scout leaders and others.

“The decision to file was not arrived at easily and I know it may cause pain and suffering, but we, as a Church, can get through this and grow stronger together,” Scharfenberger said in a release.

The bishop said that as cases brought under the state’s Child Victims Act were settled, “our limited self-insurance funds which have been paying those settlements, have been depleted.” He said the bankruptcy filing was the best way to ensure that all survivors with pending litigation receive some compensation.

The action halts legal actions against the diocese and will allow

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March 18, 2023 by ATTORNEY

Attorney for alleged abuse victim reacts to bankruptcy filing

ALBANY, N.Y. (NEWS10) — Reactions continue to come in after the Albany Catholic Diocese filed for Chapter 11 bankruptcy. Lawyers for some of the alleged sexual abuse victims said they disagree with claims from diocese leaders that they are running out of money.

Attorney Cynthia LaFave told NEWS10 that the diocese controls more than $600 million in assets. She believes the bankruptcy filing is simply meant to delay the hundreds of unsettled cases because legal action against the diocese cannot move forward until the bankruptcy proceedings are resolved.

“Now, we find that the cowardly diocese is putting itself into a bankruptcy because it wants to hide a little more and not pay a little more,” she said.

Attorneys said a committee of alleged victims will negotiate a settlement with the diocese in bankruptcy court. It’s unclear when those proceedings will take place.

The bankruptcy filing also means litigation over the Saint Clare’s Hospital pension has been paused. Mary Hartshorne, a leader for the former hospital employees, said their attorneys are now working with bankruptcy lawyers to discuss how to move foward.

Hundreds of hospital workers lost their pensions in 2018 and have joined a lawsuit from the New York Attorney

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March 17, 2023 by ATTORNEY
March 2023
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