Our two attorneys, Christie Arkovich and Barbara Leon, help to reduce student loan debt, file bankruptcy, avoid garnishment and foreclosure and other problems that too much debt can create.
Barbara Leon is a Florida licensed attorney for nearly 20 years in the areas of bankruptcy, foreclosure and student loans. Her practice and experience is well diversified, having gained experience through an internship with the U.S. Attorney’s office, a clerkship with a Federal Magistrate Judge, and both creditor and debtor private practice. This insight helps her to see all sides and find a solution quickly that works for everyone.
As founder of the firm, Christie Arkovich has practiced law for over 25 years. She is a frequent speaker at various consumer-oriented continuing legal education seminars for other attorneys before the Florida Bar, the American Bankruptcy Institute, the National Association of Consumer Advocates and the Tampa Bay Bankruptcy Bar Association. The firm maintains an AV Preeminent rating and enjoys excellent client reviews and we welcome you to see what we can do for you!
Our channel Student Loan Sidebar is a continuation of a quarterly column that we write for our local bankruptcy attorney bar organization helping people get a handle on their student loan debt. Whenever possible, Christie shares her knowledge about student loans gained working as former trial counsel for Sallie Mae, ECMC, and other student loan servicers or guarantors, and her current law practice of over 25 years.
We’re a nationally known law firm who has helped thousands of student loan borrowers obtain a sustainable, affordable payment with an end in sight. Please sit back, check out our awesome client reviews, watch a few videos and see if we can help you!
Now for the All-Important Disclaimer and where to go for more information. The information in our videos does not and is not intended to constitute legal advice. Instead, all information and content are for general informational purposes – and may not be the most up to date. Please contact us for a strategy session where we review your particular loans and how best to position yourself to create the life you want with as little debt as possible.
Hello, my name is Christy Arkovich. I'm the founder of Arkovich Law in Tampa, Florida.
And I wanted to comment on the Missouri, the Kansas injunctions, as well as the recent 10th
Circuit ruling that clarified some things regarding the SAVE plan. Essentially, about a week ago,
Kansas and Missouri, two courts entered into rulings that basically caused the July 1
regulations, considerable strain in that many of them would not go into effect. And a lot of
questions arose regarding the SAVE program. There's been some commentary between now and then.
This 10th Circuit ruled after that. So it ruled on Sunday. And basically, it clarified that most
of the provisions of SAVE are still good. So in other words, if you're already in SAVE, you're
not in SAVE, you can still get into SAVE. The 5% rule, basically, what that means is that
some of SAVE's provisions were going to go into effect and did when the pause ended last fall.
One of the biggest provisions, and that is undergrad loans would go to 5% rather than 10.
So basically, the payment would be halved. That was delayed to be entered into or to be
implemented July 1. And so there was questions about whether or not that would occur.
That will occur now. The 10th Circuit has clarified that the only thing, really,
that will be enjoined or stayed during the litigation will be anyone who's getting
forgiveness during that litigation. Because essentially, the Missouri and Kansas decision
said that we're done with forgiveness under SAVE. And that will probably be litigated.
It will probably go to the U.S. Supreme Court. That may take several months for a decision.
If you remember, with the U.S. Supreme Court, the decision took several months and it actually
denied the $10,000 across the board forgiveness. And so we don't know the outcome of that. But
what we do know is that the 100% subsidy, the interest subsidy that's mandated by SAVE,
that's good. You can still get into SAVE. You can still file a married filing separate return
and still exclude your spouse's income. That's a provision of SAVE. And even the 5% for undergrad
loans, that will go into effect as well. Anyone who is seeking public service loan forgiveness,
SAVE is still viable. Anyone who does a double consolidation, SAVE is still an eligible plan
as long as you complete the double consolidation by July of next year, which is 2025.
So I'm really thankful that the 10th Circuit clarified a lot of those issues that we were
very uncertain of. Servicers were giving different answers for. I, in part, understand that because
it was very difficult to know what exactly was happening. But SAVE is good. And so if you're
still, if you're in SAVE, I would stay the course. The only recommendation that we would have,
and by the way, with recommendations, we ask that you do a strategy consultation or strategy
session with us to understand what loans you have and what exactly you should be doing.
There are other folks that offer those same services. It is very, very difficult to understand
what you should do with your loans, what type of loans you have. There's a lot of mixed information
online, even studentaid.gov. Some of the data on there is inconsistent. It may cite old rules as
well as new rules. And some of the old rules are going back into effect. And so it's an issue. So
if you want some specific clarification on what you have and what you should do,
please do a strategy session with us or with someone to understand what you have.
You should not trust your loan servicer. And you can test that yourself.
You know, if you call them three or four times, you're likely to get three or four answers.
And it's fine. Servicers sometimes will give the right answer. But how are you going to know?
You know, how are you going to know that whatever answer you're getting is correct or not?
You don't know the training of that person. You don't know the education or what they've
been directed to say. So it's important that you learn what you can yourself, seek an advocate
that represents you, not someone that represents the other side, to see what you should do with
your loans. And lastly, if this has been helpful, please subscribe. We track that information to
see if we should continue doing these videos. We do do paid strategy sessions. You can reach
out to us at info at kristiarkovich.com or call us at 813-258-2808. But these videos are offered
for basically free assistance for someone to try to help understand what your loans,
not necessarily legal advice, because we don't know exactly what loans you have until we talk.
But at least you can mix this in with the other information you're getting
and hopefully make the correct decision. So I hope everyone has a wonderful
holiday weekend. I know by the time we put this up, it's going to be past.
But I hope this has been helpful. Thank you again. And this is Kristi Arkovich from Tampa, Florida.
