Student loan borrowers push for Navient bankruptcy

Law360 (February 9, 2021, 8:41 p.m. EST) – Three student loan borrowers ask New York bankruptcy judge to declare student loan manager Navient Solutions bankrupt, arguing the company is insolvent and their collection claims unwarranted would be lost in a voluntary Chapter 11 redesign.

In a petition filed on Monday, borrowers say Navient faces a $ 4 billion federal lawsuit that would put him $ 1.6 billion in the red, to choose between trying to claw back secured loans or filing a chapter request. 11.

“Whether the administration does a massive debt cancellation before that, or does the market make sense and do …

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Travis Durham

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