Sawin & Shea

OCTOBER 11, 2023

People file for bankruptcy for any number of reasons, from job loss, to unpaid medical bills , to sky-high credit card bills. And it’s not an uncommon event either– roughly 375,000 people filed for bankruptcy in 2022 alone. There are some debts that filing for bankruptcy will not discharge.

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Collection Industry News

APRIL 4, 2022

Joe Biden has been betraying his campaign promise to allow borrowers to discharge their student debts through bankruptcy. In a new letter, 27 Democratic senators are demanding the administration stop trying to overturn court rulings that help student debtors. Key Case Ignited Public Outcry.

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Collection Industry News

JULY 28, 2020

Former Vice President Joe Biden, the presumptive Democratic nominee for President, released his student loan forgiveness plan in April, and reaffirmed his commitment to student loan forgiveness in June. But how does Biden’s plan compare to other student loan forgiveness proposals?

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Troutman Sanders

JANUARY 9, 2024

Alleged errors include listing premature due dates before the end of the payment pause, inflating monthly payment amounts due to the servicer using outdated poverty guidelines, or using the incorrect income when calculating a borrower’s new income-driven repayment plan payment. For more information, click here.

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Sawin & Shea

MARCH 6, 2024

Being overwhelmed by debt is a stressful situation that can make it challenging to decide on the best path forward. Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. However, it’s important to remember that this does not eliminate debt.

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Troutman Sanders

JANUARY 20, 2022

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices.

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Debt Free Colorado

APRIL 9, 2020

So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. Coronavirus Car Payment Relief Programs. Guide to Coronavirus Mortgage Relief Options.

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Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. You must qualify to file for bankruptcy, and your income must meet an income means test. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery?

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Collection Industry News

JULY 12, 2022

On Wednesday, the Biden administration announced it was proposing new regulations for student loans owned by the Department of Education. The proposed rules call for an $85 billion expansion of existing federal student loan forgiveness programs. This increases the size of the debt and future interest payments.

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Sawin & Shea

AUGUST 23, 2023

How will I get under my debt? If worries about debt resonate with you, again, you’re not alone. The typical American household carries an average of $101,915 of debt contributing to a staggering $17 trillion of personal debt as a nation as of the end of 2023’s first quarter. Which Bankruptcy Clears All Debt?

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Collection Industry News

DECEMBER 21, 2020

proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it easier for consumers to access the bankruptcy system and discharge their debts. Below is a discussion of 10 critical changes proposed in the Consumer Bankruptcy Reform Act of 2020 (CBRA).

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Direct Recovery

APRIL 17, 2023

If you’re drowning in debt, you might feel like you are all alone with no way out. California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them.

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Troutman Sanders

FEBRUARY 13, 2024

On February 8, a New York bankruptcy judge ruled against cryptocurrency exchange Gemini’s claim that it has a secured claim on more than $800 million in Genesis Global Capital assets. Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. billion in debt.

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Credit Corp

MARCH 16, 2021

Is your credit card debt behaving like an unruly boy and has gone completely out of your control? Are you spending sleepless nights wondering how to get yourself out of a debt spiral? Or perhaps it’s a burgeoning credit card debt? Why Your Debt Has Spiraled out of Your Control. How to Control Your Debt Yourself.

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Better Credit Blog

JANUARY 20, 2022

In this review of Freedom Debt Relief, we’ll explain how the company can help if you’re struggling with unpaid bills. If you sign up to Freedom Debt Relief’s program, an advisor from the company will: Offer you a free financial evaluation as the first step. Select your state to begin applying for a debt relief program.

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Debt Free Colorado

JANUARY 10, 2022

When someone finds themselves in financial distress, they may consider filing for bankruptcy. But just like choosing a doctor or an in-law, not all forms of bankruptcy are the same and selecting the wrong one can wind up doing more harm than good. . Which type of bankruptcy should you take? Bankruptcy Defined.

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Better Credit Blog

MAY 4, 2022

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. Debt Consolidation Guide.

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Troutman Sanders

JANUARY 23, 2024

On January 19, the Federal Court of Appeals for the Third Circuit ordered the bankruptcy court adjudicating the bankruptcy of FTX to appoint an examiner to investigate the collapse of the digital asset exchange. billion in additional student loan debt relief for 73,600 borrowers. On January 16, the U.S.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Better Credit Blog

APRIL 11, 2022

If you’re wondering how to get out of debt, you’re not alone. In 2021, the national household debt balance reached $14.96 Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? How Debt Can Impact Your Life.

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Albuquerque Law

APRIL 30, 2020

If individuals already have debt, these questions and worries only increase. Even though many employers offer a severance package to help individuals after a layoff, debt can quickly start piling up when families lose a source of income. So, how can individuals manage debt? How will they support the family?

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Titan Consulting

APRIL 26, 2020

Before you begin asking for financial assistance, it’s essential to understand both the options for immediate relief and the long-term economic consequences of delaying payments. These options could extend the loan term, or reduce the interest rate to lower the payment permanently. . What is the Impact of Suspending Rent Payments ?

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