Separately Classifying Student Loans in Chapter 13

Big news . . . Sneak peak . . . Coming in July . . . You are gonna want this article (just sayin’) Starting July 1st, Chapter 13 debtors in Federal Student Loan income-driven repayment plans will no longer need to classify their student loans separately to receive IDR credit. Credit towards forgiveness will be awarded for each month of trustee payments, regardless of payments made directly to the Department of Education.

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Scott Waterman
Chapter 13 Bankruptcy Trustee for the Eastern District of Pennsylvania

Scott F.Waterman, Esq. graduated from Tufts University in 1991 with a dual major in history and political science. He received his J.D. from Temple University School of Law in 1994. He is a Chapter 13 Bankruptcy Trustee for the Eastern District of Pennsylvania, and his office is located in Reading, Pennsylvania.  Previously,  he had his own private law practice focusing on consumer bankruptcy and commercial collection matters. Mr. Waterman is a former Chairof the Eastern District of Pennsylvania Bankruptcy Conference and is a Fellow of the American College of Bankruptcy.  He is a member of the National Association of Chapter 13 Trustees and the Berks County Bar Association.  Mr. Waterman volunteers his time as a current board member of the Consumer Bankruptcy Assistance Project which provides free legal assistance to indigent bankruptcy clients.  In 2014 Mr. Waterman was appointed to be a member of the Local Rules Advisory Committee of the United States Bankruptcy Court for the Eastern District of Pennsylvania in helping to draft new and updated local bankruptcy rules. That same year he served on the Bankruptcy Judge Merit Selection Committee for the Eastern District of Pennsylvania to which he was appointed by the United States Court of Appeals for the Third Circuit. Mr. Waterman has two sons and enjoys sailing, playing softball and watching baseball.  He spends his free time driving his kids back and forth to their various sporting activities.

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