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Congress takes up student loan bankruptcy-discharge bill

Yesterday Senator Richard Durbin (D-IL) and Senator John Cornyn (R-IL) introduced "Fresh Start Through Bankruptcy Act", bipartisan legislation, that will restore the ability to discharge student loans in bankruptcy. This is the first bipartisan…

The Perils of Trying to File Bankruptcy While Supporting an Adult Child in College

As I have explained to clients many times before, there is sort of a hierarchy in bankruptcy. Your minor children come first, your creditors come second, and your adult kids come third. If you have been supporting an adult child, for instance…