The Student Loan Debacle: Causes & Cures

As we observe the growing discussion over the tremendous amount of outstanding student loan debt, several points of clarification might do us well. There are those favoring relief for debtors now unable to pay their student loans. They have proposed various forms of relief, including several forgiveness programs and re-allowing such debts to be discharged in bankruptcy under more usual circumstances. On the other side are those pointing out that any relief must inevitably put the forgiven debt on the backs of taxpayers, because the loans were federally guaranteed.

Close analysis of this near-crises debt . . .

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R. Michael Smith, Esq.

Attorney

R. Michael Smith graduated Summa Cum Laude from the University of Cincinnati in 1982. He then attended The Ohio State University College of Law, where, after serving on the Law Journal and winning the Judge Joseph Harter Award for Trial Advocacy, he graduated in 1985. Mike then served as a law clerk/administrative aid to Ohio Supreme Court Justice Robert E. Holmes. Afterward, he served as Referee (magistrate) and Editor for the Court at the Ohio Court of Claims. Later, he also earned a Master of Divinity degree from The Southern Baptist Theological Seminary. Upon entering private practice in 1994, Mike’s practice included appeals, trials, general business and criminal representation and bankruptcy. He has tried cases, argued cases before the Court of Appeals, and drafted appeals for other attorneys. In addition to admission to the Courts of Ohio, he is also admitted to practice in: Federal District Court, Southern District of Ohio; Federal Bankruptcy Court, Southern District of Ohio; and United States Supreme Court

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Bankruptcy Conversion and Exemption Objection Deadlines

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Bankruptcy and appellate courts in increasing numbers are considering whether it is appropriate for debtors filing for Chapter 7 relief and attorneys representing them to enter into bifurcated fee agreements. It has been recognized that one of the reasons that debtors may decide to file Chapter 13 rather than Chapter 7 is that attorneys require payment of the Chapter 7...

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