• Wage Garnishments and Bankruptcy

    How Bankruptcy Can Stop Wage Garnishments If a creditor is garnishing your wages, you may be able to stop the garnishment and even get some of your garnished wages back by filing bankruptcy. If a creditor is garnishing your wages, you may be able to stop the garnishment and even get some of your garnished […]

  • Student Loans and Bankruptcy

    Student Loan Borrowers Assistance > Bankruptcy Student loans are difficult, but not impossible, to discharge in bankruptcy. To do so, you must show that payment of the debt “will impose an undue hardship on you and your dependents.” Courts use different tests to evaluate whether a particular borrower has shown an undue hardship. The most […]

  • Graduate school debt is playing a key and often overlooked role in the ballooning of overall student loan debt, new research suggests.

    Graduate school debt is playing a key and often overlooked role in the ballooning of overall student loan debt , new research suggests. By Jennifer Liberto @CNNMoney March 25, 2014: 11:02 AM ET Students who went to university for a graduate degree borrowed $57,600 in 2012, a 43% increase from $40,209 in 2004, according to […]

  • Report: Payday Loans Can Cost Borrowers Much

    WASHINGTON March 25, 2014 (AP) About half of all payday loans are made to people who extend the loans so many times they end up paying more in fees than the original amount they borrowed, a report by a federal watchdog has found. The report released Tuesday by the Consumer Financial Protection Bureau also shows […]

  • Bankrupt? How to get student loan debt erased

    (In the penultimate paragraph, removes inadvertant word attached to end of law firm name.) ENLARGE (Globalpost/GlobalPost)Adve By Liz Weston LOS ANGELES (Reuters) – Getting student loan debt erased in bankruptcy court isn’t easy, but it’s possible. Unfortunately, most borrowers can’t afford the fight that might give them some relief. “You’d need to spend at least […]

  • Bankruptcy protection extends to people from all walks of life

    February 25, 2014 /24-7PressRelease/ — The perceived social stigma attached to bankruptcy makes filing for financial protection unattractive to some. Many people worry how bankruptcy will affect their credit rating, future purchasing power and their ability to provide for their family. Bankruptcy can feel like “giving up” — there may be feelings of personal failure, […]

  • Allow Private Education Loan Debts to Be Erased in Bankruptcy

    Allow Private Education Loan Debts to Be Erased in Bankruptcy Struggling borrowers should be able to discharge their private student loan debts By STEVE COHEN Steve Cohen is a Democratic representative from Tennessee. Millions of Americans pursue college educations and training for new careers, which is good for them and for our nation. Yet these […]

  • Costly Debt Settlement Schemes Prey on the Most Debt-Burdened Consumers Struggling to Recover from Economic Downturn

    NACBA: COSTLY DEBT SETTLEMENT SCHEMES PREY ON THE MOST DEBT-BURDENED CONSUMERS STRUGGLING TO RECOVER FROM ECONOMIC DOWNTURN What a Half Million Unwary Consumers Don’t Know: Schemes Only Work for 1 in 10 Who Pay for Them; Consumer Alert: Debt Settlement Programs Seen as “#1 Threat to America’s Most Indebted Consumers.” WASHINGTON, D.C. – October 17, […]

  • Student debt may hurt housing recovery by hampering first-time buyers

    Washington Post, By Dina ElBoghdady The growing student loan burden carried by millions of Americans threatens to undermine the housing recovery’s momentum by discouraging, or even blocking, a generation of potential buyers from purchasing their first homes. Recent improvements in the housing market have been fueled largely by investors who snapped up homes in the […]

  • 5 THINGS STUDENT LOAN LAWYERS ASK BORROWERS WHO FILE FOR BANKRUPTCY

    Wall Street Journal http://blogs.wsj.com/five-things/2014/01/06/5-things-student-loan-lawyers-ask-borrowers-who-file-for-bankruptcy/?KEYWORDS=student+loans It’s nearly impossible to cancel your student loan debt in bankruptcy. Fewer than 1,000 people try each year. Those who do are required to file a lawsuit against their lenders and then convince a bankruptcy judge that they’re so poor there’s no hope of ever repaying the loans. Lawyers for the […]