DECEMBER 1, 2022                                                                                                                                 VOL. 22
 RAISING THE BAR  
The latest news and updates from General Bar
A federal appeals court ruled against the administrations $400 billion student loan forgiveness program, declining to halt a lower court's ruling that invalidated the efforts and setting up the latest dispute over the controversial debt relief effort likely to be appealed by the Supreme Court. The brief order from the U.S. Court of Appeals for the 5th Circuit let stand a lower court ruling that had blocked the program's implementation. The administration has already extended a pause on student loan payments until as late as June 30, 2023. In response to the public's concern, the federal government argued the program was exempt from the process because it planned to discharge the debt via the HEROES Act. The administration added that the lower court's order invalidating the program did not provide either plaintiff a greater opportunity to comment on the debt relief program and that one of them loses $10,000 of loan forgiveness as a result.
The General Bar is proud to partner with Prodigal! Their software helps automate lending operations for financial services firms across the entire lending value chain. Nearly one in five U.S. borrowers have already engaged with Prodigal as they've processed more than 200 million calls.
COLLECTION RELATED NEWS

BLACKROCK BACKS BANKS, CUTS EM DEBT AS PART OF NEW PLAN

NY ENDS HOME LIENS, WAGE GARNISHMENTS IN MEDICAL DEBT COLLECTION

IMF STRATEGY CHIEF HEADS TO CHINA TO SPEED UP DEBT TREATMENTS

DEBT, RISING INTEREST RATES PUT BUSINESSES AT RISK

MARYLAND REINTRODUCES LEGISLATION TO PROTECT CONSUMERS FROM MEDICAL DEBT

ZAMBIA ON TRACK FOR DEBT RESTRUCTURING NEXT QUARTER

WITH DEBT COMING DUE, INVESTMENT GRADE COMPANIES ARE PAYING UP TOO
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