Focusing on Student Loan Discharge in or after Bankruptcy
NEW YORK, June 09, 2020 (GLOBE NEWSWIRE) -- Reset Button announced today that it has changed its name to Lexria. The new name reflects the company’s mission to make financial justice accessible.
“There are many legal services out there for consumers with financial issues, but attorneys can’t always make the business model work on their own,” said Rob Hunter, the company’s CEO. “We use technology to make those legal services—like student loan discharge in bankruptcy—financially accessible for consumers and feasible to offer for attorneys.”
Lexria helps borrowers in need attain student loan discharge via adversary proceeding during or after bankruptcy. For borrowers who match the historical profile of someone likely to receive student loan discharge, Lexria has a network of partner attorneys trained in adversary proceedings for student loans.
Many people believe student loans are not dischargeable in bankruptcy, including some bankruptcy attorneys. While student loans are excluded from standard bankruptcy proceedings, they can be included if the borrower files an adversary proceeding - a type of lawsuit specific to bankruptcy. About half of borrowers who file adversary proceedings during or after their bankruptcies receive some form of relief, including partial or total discharge of their student loans.
With $1.6T in outstanding student loans, 10% of which are already in default, there has never been a more critical time to tackle the student debt problem.
Lexria has already received inquiries from thousands of student loan borrowers and built a network of partner attorneys across the U.S.
“The assistance that Lexria provides borrowers and their attorneys is critical for making student loan discharge accessible to more Americans,” said Ed Boltz, a Lexria network attorney and former president of the National Association of Consumer Bankruptcy Attorneys. “It shows that bankruptcy type of relief is possible, and not just for the most extreme cases, giving hope to borrowers and confidence and support to their bankruptcy attorneys.”
Lexria makes financial justice accessible. By combining technology and modern business methods, Lexria unlocks crucial legal services for consumers, allowing attorneys to feasibly service them. Lexria’s initial focus is student loan discharge in bankruptcy. Lexria is a fully remote team and has partner attorneys across the country.