The Consumer Advocate – Musings on the U.S. Bankruptcy System and its Impact on Consumers

National Collegiate Student Loan Trust Loses Again

The Consumer Financial Protection Bureau has been in a long standing battle with the National Collegiate Student Loan Trusts ("NCSLT") since 2017 seeking to hold them liable under the Consumer Financial Protection Act ("CFPA"). NCSLT appealed the decision to the Third Circuit who just answered unequivocally that NCSLT is indeed subject to the CFPA. What...

Seismic Change in Discharging Federal Student Loans in Bankruptcy

The U.S. Department of Education’s (“DOE”) promise of a kinder and gentler response to complaints to discharge federal student loans in bankruptcy has been long awaited and may have arrived. On November 17, 2022, DOE announced a radical departure in how it will analyze these types of cases. The new procedure can result in DOE...

Steve Rhodes, Condemnedtodebt.org – “Sued Because you Defaulted on a Private Student Loan? Read Richard Gaudreau’s Blog in Huffington Post” (Oct. 26, 2016)

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The Consumer Advocate Musings on the U.S. Bankruptcy System and its Impact on Consumers

National Collegiate Student Loan Trust Loses Again

Seismic Change in Discharging Federal Student Loans in Bankruptcy

US News & World Report – “Parent PLUS Loans: What You Need to Know.” (April 17, 2023).

Marketwatch – “These lawyers may have discovered a way to wipe away student debt in bankruptcy.” (March 3, 2017)

Detroit Free Press – Will your private student loans soon be erased? Don’t bet on it. (July 29, 2017)

Union Leader – “In NH’s Hot Housing Market, court ruling sets off alarms.” (July 10, 2022)

Inverse – Billions in Student Debt May Suddenly Disappear Due to Missing Papers (July 17, 2017).

Portsmouth Herald – Mortgage – Bankruptcy (Jan. 29, 2008).

Marketwatch – CFPB Orders Student Loan Company to Pay at Least $19.1 Million (Sept. 18, 2017).

Steve Rhodes, Condemnedtodebt.org – “Sued Because you Defaulted on a Private Student Loan? Read Richard Gaudreau’s Blog in Huffington Post” (Oct. 26, 2016)