Thought Leadership Type: Bankruptcy Solutions

TRUSTEE TALK: According to Stretto Director Jeph Ledda and Telpner Peterson Attorney Nicole Hughes, until guidance from FinCEN is provided, bankruptcy Trustees would be well-served to take a careful approach in each case, considering the practices in recent cases that have been effective, and to stay attuned to any future updates from FinCEN in the […]

Stretto Senior Managing Director Igor Roitburg and Attorney Michael Lux explain that at a time when student loan confusion is at an all-time high, bankruptcy Attorneys now find themselves uniquely positioned to help their clients navigate a permanent resolution to student loan debts in the winter issue of NACBA’s Consumer Bankruptcy Journal.

Stretto President Scott Barna comments that unplanned events may cause unmanageable financial hardship, especially for individuals who do not have significant savings. For these individuals, a financial emergency overlaid on top of a precarious day-to-day economic situation can drive them into bankruptcy as interviewed in GOBankingRates.

According to Stretto Senior Managing Director Igor Roitburg, the new bankruptcy process for student-loan borrowers still isn’t perfect. The timeline for borrowers to receive a bankruptcy decision can still widely vary and that uncertainty is a roadblock for some borrowers and attorneys to participate, but there is hope, as interviewed in Business Insider.

In Law360, Stretto Chief Revenue Officer Robert Klamser, Co-President and Chief Operating Officer James Le, and Managing Director Randall Reese explain that the future of legal practice belongs to those who can combine traditional legal expertise with technological fluency. Young attorneys have a unique opportunity to lead this transformation.

According to Stretto President Scott Barna, filing for bankruptcy can provide a fresh start for distressed borrowers to resolve their personal debt obligations and move forward with financially sustainable futures, as interviewed in GOBankingRates.

Stretto Regional Director Nancy Simons and Attorney David Goodrich discuss that for the abandoned plan program to reach its full potential, further refinements are needed. Clearer guidance on locating plan information and, critically, adjustments to trustee compensation are vital for sustainable administration in Law360.

Stretto Managing Director Igor Roitburg and Attorney Katarina Essenmacher explain that while lawyers are not required to file an adversary proceeding to seek a student loan discharge, they should advise their clients that discharge is now possible and explain the process in the fall issue of NACBA’s Consumer Bankruptcy Journal.

Year-to-date bankruptcy filings reach the highest level in 13 years, and Stretto co-CEO Jonathan Carson observes that rising interest rates have been the cause of a lot of businesses finding it more difficult to stay open when debt service goes higher and margins are thin, as interviewed in The Epoch Times.

Stretto Managing Director Igor Roitburg and Attorney Michael Lux advise that by consulting with their clients who carry significant student loan debt, consumer debtor Attorneys can become agents of change and play a guiding role in making the transition to student loan repayment less painful in the summer issue of NACBA’s Consumer Bankruptcy Journal.