Generally, approval is needed from the bankruptcy court to take on any new debt in the form of a new federal or private student loan. This would include the filing of a refinance or even a consolidation application – as these are considered new loans. ECMC, the guarantor of FFEL…
Mark L. Due to client confidentially rules, I won’t post your full name. Amazingly, Mark answered our 1:48 pm. email within a record 7 minutes. Closely followed by another client Kari N., only two minutes later. Feels a bit like a horse race! The answer is: String theory for all…
You still need to pay your student loans when you are furloughed or else you risk a default. But if you are a federal employee, take this opportunity to ask your servicer to recalculate your IDR plan while you’ve got zero income!! Even if the shutdown ends next week, your…
When you are thinking about hiring a bankruptcy attorney, what should you consider? – besides all the regular stuff like client reviews, years of practice, cost, availability, knowledgeable, friendliness of attorney and staff etc. One thing to keep in mind is what other areas does that law firm handle and…
In what reads like a Student’s Bill of Rights, a 76 page Assurance of Voluntary Compliance, CEC must clearly and conspicuously disclose to prospective students a “Single-Page Disclosure Sheet” that contains the following information: the anticipated total direct cost for the program of study at the prospective campus; provided, however,…
Did you ever wonder why credit reporting agencies cannot correct an error? Even one that seems rather obvious to you? The reason is the elaborate mechanism created by the credit reporting industry is inherently flawed. This leads to inaccurate credit reports that lead consumers to paying too much for credit…
Most of us still use the New Year as an opportunity to review the past year and set goals for the New Year. My own practice has grown tremendously from this goal setting. We target the best strategies to grow our practice and help our clients to get back on…
I’ve written before about the requirement in FHA mortgages that the lender send certified letters and conduct a face-to-face meeting with a borrower before initiating a foreclosure. When a lender fails to do that, the may be liable for the damages sustained in a wrongful foreclosure. There are other advantages…
Since last week’s announcement that the Department of Education was forgiving $150 million in federal student loans, many people have reached out to us to see if they may benefit. Those who will receive forgiveness under the $150 million announcement are limited to only those borrowers who: were enrolled when…
Today, a CNBC reporter Annie Nova, reports and gives an update on our Public Service Loan Forgiveness cases in Florida against Great Lakes and Navient for misrepresentations about the program. Both of these cases are seeking or will seek class action status. https://www.cnbc.com/2018/12/18/borrowers-denied-public-service-loan-forgiveness-file-lawsuits.html The number of people who’ve been financially derailed by…