I read a review a student loan client wrote about me last night and it presented a theme that I have witnessed over and over. Have you ever been told that you have no options when it comes to dealing with your student loans? If so, please keep reading. Here…
Ok, I have a bone to pick with Great Lakes. I formerly considered them one of the better student loan servicers out there. Not any more. On their website they offer free help and tell people not to pay a fee for student loan help that is free. It’s spelled…
The DOE is involved in a negotiated rule making process right now to expand its relief of federal student loans for misrepresentations or fraud regarding recruiting practices, marketing, and job placement at potentially fraudulent schools which may be subsequently closed or are under investigation. The DOE website briefly covers this…
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…
The Golden Rules to Discharge Taxes: If you choose to file a Chapter 7 bankruptcy, your tax debt could be discharged if you meet the following tests: The taxes must be for income. The tax debt must be at least 3 years old (including extensions). You must have filed the…
If a creditor waits too long to sue, the creditor can be barred from ever bringing suit. The purpose of having a statute of limitations is so that lawsuits are brought when the matter is still fresh: before documents are destroyed and memories fade. If they can no longer bring…
Many of our recent bankruptcy clients report large amounts of business debt. This may be small business loans, credit cards run up to support a small business, or personal guarantees. Often the business is gone at this point and we are looking to file an individual bankruptcy. Filing a bankruptcy…