Bankruptcy Lawyers Warn of Looming Student Loan ‘Debt Bomb’ | ABA Journal | Debra Cassens Weiss | 3/12/12

English: Part of Title 11 of the United States...

Image via Wikipedia

Student loan debt could turn into another crisis for the economy, according to the president of the National Association of Consumer Bankruptcy Attorneys.

According to the Washington Post:

  • Eighty-one percent of the responding lawyers reported an increase in the number of potential clients they are seeing with student loan debt.
  • Forty-eight percent said the increase was “significant.”
  • Ninety-five percent said few student loan debtors have any chance of meeting hardship standards to discharge the obligations in bankruptcy.
  • Parents who co-signed for the loans are also affected, according to the lawyers group. Loans to parents for their children’s college education have increased 75 percent…

via Bankruptcy Lawyers Warn of Looming Student Loan ‘Debt Bomb’ – News – ABA Journal.

Advertisements

About vinhsu

Center City Philadelphia General Practice Law Firm with emphasis on Criminal Defense, Family Law, Immigration, Real Property, and Wills/Trusts/ Estate Planning. Licensed in Pennsylvania and New Jersey.
This entry was posted in Employment, National News and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s