Bankruptcy Attorneys Report Major Jump in Student Loan Debtors
Student loan debt is pushing an increasing number of young people and their parents toward bankruptcy, according to a survey released Tuesday by the National Association of Consumer Bankruptcy Attorneys (NACBA.) The NACBA say they were one of the first groups to warn of the rising mortgage crisis and they’re now forecasting a “Student Loan Debt Bomb.”
“Take it from those of us on the frontline of economic distress in America,” said William E. Brewer Jr., the group’s president. “This could very well be the next debt bomb for the U.S. economy.”
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