Do you know what it means to rehabilitate federal student loans and why it is necessary? First, once a federal student loan goes into default, several consequences can occur including: Administrative wage garnishment; Income tax refund intercepts; Social Security offsets; A default is reported on your credit reports; and Loss…
On August 26, 2016, the U.S. Department of Education banned ITT Technical Institute from enrolling new students who use federal financial aid. This is the result of several investigations into their recruiting, marketing and job placement practices. The loss of these funds may ultimately be the demise of ITT likely…
I just watched yet another attorney’s video from 2013 about how student loans are hardly ever discharged in a bankruptcy unless you are extremely ill. The ending quote about student loans was “you’re stuck with them”. And that was it. No discussion about options, possible outcomes, etc. Just you’re stuck…
Useful information can be obtained from the Consent Orders relating to improper debt collection activities obtained by the Consumer Financial Protection Bureau. Recent orders applicable to Fred Hanna, Encore Capital Group, Inc., Midland Funding, LLC, Midland Credit Management, Inc., Asset Acceptance Capital Corp., PRA, LLC, Porfolio Recovery Associates, Chase Bankcard…
Are you a slave to your private student loans? We have client after client coming to see us with huge private student loans that are not going away, despite years of throwing money at them. In fact, in most cases, the balances are larger, sometimes double what they used to…
Have you just learned you’re being sued by one of these companies? National Collegiate Student Loan Trust CACH LLC Midland Credit Management Portfolio Recovery Associates Sherman Acquisition West Asset Management NCO Portfolio Transworld Cavalry Portfolio These companies have probably purchased debt that you may or may not owe. There are…
ABC Action News ran a story about a Tampa student loan borrower tonight for whom we just filed an adversary lawsuit in bankruptcy court seeking an undue hardship. Unfortunately he was duped into what is now $164,000 worth of student loans for a worthless degree from IADT. Worst decision of…
Highlighting a case where we obtained full student loan forgiveness of nearly $70,000 for an elderly client who had helped her son through school, ABC Action News interviewed our client and me today. The debt collectors wanted $700 a month in payments and were harassing her to make her payments.…
In my continued efforts to help student loan borrowers understand why hiring a student loan attorney is a good idea, I’d like to post some of the cases we are working on this week. Some of these are a little out of the ordinary and I’m hoping that other potential…
Tax Relief for Certain Students Whose Education Loans Were Discharged: The IRS has announced that taxpayers, who took out Federal student loans to finance attendance at schools owned by Corinthian Colleges, Inc., and whose loans were discharged under the Department of Education’s Defense to Repayment or Closed School discharge processes,…