Of Counsel, Elizabeth Stephens, Published in the Legislation Committee Newsletter by the American Bankruptcy Institute

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Sullivan Hill’s Elizabeth Stephens wrote an article titled “Student Loans and Bankruptcy: Congressional Action and Consumer Commission Recommendations” which was published in the Legislation Committee Newsletter of the American Bankruptcy Institute. In the article, she discusses the report released by the ABI Commission on Consumer Bankruptcy and its recommendations regarding student loans, education financing and debt. The ABI Commission on Consumer Bankruptcy reviewed the number of bills that were introduced into the 116th Congress and studied how student loan debt is treated in bankruptcy. “The charge to the Commission was to recommend improvements that could be implemented within the consumer bankruptcy system’s existing structure. The Commission did not avoid recommending statutory amendments, however, and made several such recommendations regarding the issue of student loan debt,” states Ms. Stephens.

In the article, she explains that the Commission reviewed the history of § 523(a)(8) and the expansion of the nondischargeability of student loan debt as previously, prior to 1998, student loan debt was freely dischargeable from five to seven years after it became due. ​”Congress eliminated the time period, and the rule became that student loans were nondischargeable at any time unless the debtor could prove undue hardship. Further, in 2005 Congress changed the definition of nondischargeable student loan debt such that, for the first time, private educational loans became nondischargeable,” states Ms. Stephens. ​

To finish reading the article, please click here.

Ms. Stephens serves as managing attorney of Sullivan Hill’s Las Vegas office. She practices in the area of insolvency and bankruptcy, primarily representing trustees and creditors in consumer bankruptcies. She is also an experienced appellate lawyer.

About Sullivan Hill:

Sullivan Hill has provided efficient, aggressive and responsive legal representation for more than 50 years. The firm provides full service representation to clients in a variety of industries with an emphasis in insolvency, construction disputes, insurance coverage, real estate, business disputes, civil litigation, and transactional work.  The firm has offices in San Diego and Las Vegas.

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On October 17, 2019

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