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

IntroductionDespite considerable organizational upheaval within the U.S. Department of Education over the past year, the Department has maintained a notably borrower-friendly policy regarding the discharge of federal student loans in bankruptcy proceedings. This policy, implemented in 2022, marks a substantial departure from the Department's historical approach to undue hardship determinations under 11 U.S.C. § 523(a)(8).Historical...

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It’s hardly news to say there is a housing crisis in New Hampshire.   Housing prices have skyrocketed here even more than the rest of the country    A national database of home sales at realtor.com ranks metropolitan areas in the United States based on market demand and the number of days a listing remains active.  For...

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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...

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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...

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