The United States Bankruptcy Court For The Southern District Of Florida is currently considering the implementation of a Student Loan Modification Program.
Through this program bankruptcy debtors can consider repayment options offered by The Department Of Education (DOE). This includes Income Contingent Repayment Plans (ICR Plans), and Income Based Repayment Plans (IBR Plans) predicated upon the debtor’s income and family size.
Through this program bankruptcy debtors can communicate with the Department Of Education (or loan servicers), submit required financial documents (like tax returns), and apply for relief under the repayment programs that DOE offers to student loan borrowers.
Significantly, if the debtor accepts an ICR or IBR plan, the debtor may include the monthly student loan payment under the plan as a separate payment in the Chapter 13 Plan.
The Law Offices Of Todd S. Frankenthal assists clients in financial distress get a fresh start. The law firm has offices in Fort Lauderdale, Boca Raton, and West Palm Beach.