If you have overwhelming student loans, the Middle District of Florida just took the initiative to implement a Student Loan Modification Program through the bankruptcy process.
The Middle District did something similar in the housing/mortgage collapse. It doesn’t mean your debt must be modified, but if it works like the mortgage loan modification process, there could be positive long awaited results.
The process will essentially allow a debtor to request to participate in a modification process with a hope of modifying a loan modification through an income-driven repayment plan.
I’ll be learning more as part of my bankruptcy practice for anyone looking for help. Want to read the order? Click here to download the court document!