Month: February 2015

Expiration of Protection for Tenants in Foreclosure

Jacksonville, FL Tenants in Foreclosure When lenders pursue foreclosure of a home, it is not just the homeowner that is impacted. If the property is being rented, the tenant will also be negatively impacted but with fewer rights to assert than the landlord, property owner. During the height of the housing crisis, the nation saw a sharp increase in the number of tenants being evicted mid-lease by lenders or new owners often with virtually no notice.  Some  estimates indicate that up to 40% of f[...]

Everest Student Loans Update – Buyer Agrees for $480 Million Debt Forgiveness

As we’ve discussed in earlier posts on Adam Law Group’s bankruptcy blog, Everest student loans are one of the major sources of debt for many Americans and under current law, it is very difficult, though not impossible, to discharge them during bankruptcy. Yet, there is reason to be more optimistic.  The public and legislatures have begun to recognize the overwhelming student loan crisis and to propose solutions.  A house bill has been proposed that would make it easier to discharge stud[...]

Awaiting Supreme Court’s Bankruptcy Protection Decision

Bankruptcy Protection The United States Supreme Court is in session and for the second year in a row, it has an important bankruptcy case on its docket, Wellness International Network Ltd. v. Sharif.  As mentioned in an earlier post on Adam Law Group last year, the Supreme Court in Executive Benefits Insurance Agency v. Arkison, 134 S. Ct. 2165 (2014) passed on providing clarification regarding the power of bankruptcy courts to decide issues “stemming from” bankruptcy protection proceeding[...]

Student Loan Relief in Bankruptcy

Will Student Loan Relief Soon Be Available in Bankruptcy Proceedings? John Delaney hopes so.  Not the University of North Florida President, but a US Representative from Maryland by the same name.  Delaney filed a bill (H.R. 499) that would provide student loan relief by removing student loans from the bankruptcy code’s list of non-dischargeable debt in 11 USC 523.   Current State of Student Loan Bankruptcy Law As discussed in earlier blogs, student loan debt is currently considered non-dis[...]