After more than a year of urging by Democrats and Attorneys General from over 51 states and territories[1] (including Ohio Attorney General David Yost)[2], and more than a month after the introduction of a bi-partisan bill called the Federally Requiring Earned Education-Debt Discharges for Veterans Act, 100% disabled veterans will have their federal student loans fully discharged.[3] Due to the combined efforts, on August 21, 2019, President Trump issued an Executive Memorandum directing the Secretaries of Education and Veteran Affairs to create a more streamlined process for Totally and Permanently Disabled Veterans to obtain forgiveness of their student loans.[4] Read more
Ohio House Bill 694 Proposes Shortening of Statute of Limitations
Creditors should keep a watchful eye on the state capital this new year, as there may be a significant updates to Ohio Revised Codes §2305.06 and 2305.07. On May 22, 2018, Rep. George Lang introduced House Bill 694, which proposes to shorten the statute of limitations for all contracts. Co-sponsors of the bill include: Rep. Reineke, Rep. Riedel, Rep. Romanchuk, and Rep. Becker. Read more