Better Credit Blog

DECEMBER 22, 2021

If you have multiple debts, such as overdue credit cards you need to pay down, a debt consolidation loan might be able to help you to better keep track of what you owe by getting it all in one place, perhaps even at a lower interest rate. Ad See how much you could save by consolidating your debt! Ads by Money.

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Nerd Wallet

DECEMBER 21, 2020

If you default on your federal student loans, you have two main options for getting out of it: loan consolidation or loan rehabilitation. Department of Education’s Default Resolution Group, which services your loans moving forward — this means helping you get out of default. If unsuccessful, the.

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Nerd Wallet

OCTOBER 19, 2020

Key takeaways FFEL loans are federally backed loans that were originally funded by private companies. The FFEL Program ended in 2010, and some FFEL loans are now owned by the federal government. Borrowers with FFEL loans may want to consolidate to take advantage of more student loan benefits.

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Collection Industry News

FEBRUARY 6, 2024

Unlike many Americans with crushing student loan debt, the 44-year-old father of three from Knoxville, Tennessee, thought his debt had been canceled. But when the pandemic-era hold on loan payments lifted, the hefty deduction popped up again on his balance. Many went through different student loan companies.

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Nerd Wallet

MAY 25, 2021

Key takeaways You can consolidate federal student loans to get a different servicer; you may get a longer repayment term that decreases your payment but increases total interest. You can refinance your student loans to a private lender and get a lower interest rate and different repayment term.

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Credit Corp

JUNE 12, 2023

A personal loan is money borrowed from a lender that can be used for almost any purpose, from debt consolidation to home improvement projects. Most people don’t have $5,000+ sitting in their bank accounts—that’s where personal loans come in. What Is a Personal Loan? Why Would I Need a Personal Loan?

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Credit Corp

MARCH 9, 2021

Going through student loan repayments can be a hassle. However, due to the COVID-19 pandemic, student loan payments and collection attempts have been paused until September 30, 2021. This means you have more time to find ways to repay your student loans before you have a defaulted loan.

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Credit Corp

JULY 26, 2021

Joint mortgages pass directly to co-borrowers, who become responsible for the loan. the decedent—pass to listed beneficiaries, who then become responsible for the loan. If beneficiaries can’t or won’t assume the loan, they can sell the property to settle the debt instead. Car Loan Debt. Student Loan Debt.

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Better Credit Blog

MAY 11, 2022

million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. Refinancing your student loans could help lower your monthly payments and reduce your overall repayment amount. Additionally, look at our best student loan companies to apply completely online.

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Sawin & Shea

NOVEMBER 30, 2022

Student loan default can impact millions of Americans. Unfortunately, defaulting on a student loan can hurt your finances, credit, and other aspects of your life. If you fall behind on student loan payments, your loan won’t default immediately. What Are My Options After Defaulting on Student Loans?

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Better Credit Blog

MAY 20, 2022

Each year, tens of millions of Americans facing similar situations turn to personal loans to help ease the financial burden. With low interest for borrowers with strong credit scores, fixed rates, and a variety of lending sources to choose from, it’s easy to see why personal loans are so enticing. Reasons To Get A Personal Loan.

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Roths Child Law

APRIL 15, 2021

Taking out a student loan is supposed to be a financial investment in your future. It can be very difficult for college graduates to balance their daily financial needs with the obligation to repay massive student loans. Some of these borrowers will eventually end up defaulting on their loans.

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Credit Corp

AUGUST 13, 2021

To boost your credit profile, consider applying for a credit-builder loan or a secured credit card. Handle Student Loan Payments. Millions of borrowers in America were already behind on their student loan payments when the coronavirus pandemic hit in early 2020. Sign up for ExtraCredit today! Build Your Credit.

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Titan Consulting

JUNE 7, 2020

Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Congress also counts the non-payment period through September as credit toward loan forgiveness credit. Help Available for Borrowers with Student Loans. Key Takeaways.

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Debt Guru

JANUARY 27, 2020

In fact, The Institute for College Access & Success reported that 65 percent of 2017 grads carry student debt – at an average of $29,200. It’s no wonder, then, that defaulting on student debt has become rampant. Consolidate your debt. Keep your contact info current. Refinance for better terms.

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Credit Corp

MAY 17, 2021

Student loans are by far some of the biggest issues most students are facing today when it comes to finances. To get the kind of education you want, you will probably need to take out a student loan to pay for the studies – and then spend years if not decades paying back such loans.

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Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. the Sixth Circuit affirmed summary judgment for student loan servicer Nelnet, Inc.

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Collection Industry News

MAY 3, 2022

It would also ban Performance Settlement from certain loan-settlement and lead-generation activities. Performance SLC provided federal student loan debt relief services to consumers by processing and submitting the paperwork required for them to apply for loan consolidation, loan repayment, and loan forgiveness programs offered by the U.S.

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Sawin & Shea

AUGUST 9, 2023

Creditors cannot reclaim any of your property if you default on a loan. a car or their home), and agrees that they will repay the loan in a timely fashion or else the lender will gain ownership of the collateral they used to get the loan. However, secured debt means the borrower has put up collateral (e.g.

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Collection Industry News

FEBRUARY 25, 2024

Credit card delinquency rates also jumped — particularly among younger millennials, or borrowers between the ages of 30 and 39, who are burdened by high levels of student loan debt. Despite the steep cost, consumers often turn to credit cards, in part because they are more accessible than other types of loans, Schulz said.

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Troutman Sanders

MARCH 28, 2023

Potential topics include third-party servicers and related issues, such as reporting, financial responsibility, compliance, and past performance requirements as a component of institutional eligibility for participation in the Title IV, HEA federal student financial assistance programs under 34 CFR 668.25 and 682.416.

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Credit Corp

JUNE 1, 2021

Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. Monthly expenses might include student loan payments, car payments, and credit card payments. Pay Student Loan Debt. Some Millennials may want to look into loan consolidation.

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Credit Corp

DECEMBER 22, 2020

iOS and Android Mint Budgeting for debt payments Web, iOS, and Android ChangEd Student loan repayments $1/month iOS and Android Unbury.me The app is free to download, but the real value of Tally comes if you are approved for a Tally Line of Credit that consolidates your credit card debt with a lower APR. is a great tool.

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Sawin & Shea

DECEMBER 28, 2023

The money repaid goes primarily toward important priority debts like mortgages, car loans, taxes, and support obligations first. Consolidating multiple debts into one payment is easier, too. Certain Debts Remain : Common protected debts like most student loans, alimony, and child support can’t be discharged in Chapter 13.

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Credit Corp

OCTOBER 4, 2021

When you choose a mortgage lender and are approved for your home loan, your lender is agreeing to lend you all funds necessary to cover your home purchase. For a mortgage, you’ll typically need a credit score of at least 620 for a conventional loan. Consolidate Your Debt. Your Debt-to-Income Ratio (DTI).

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Troutman Sanders

AUGUST 9, 2022

In the three consolidated cases on appeal, the plaintiffs defaulted on their student loan payments and each lender closed their accounts and transferred their loans.

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Troutman Sanders

FEBRUARY 21, 2024

On February 15, the CFPB published a blog recounting its action against a student loan debt relief business and a debt-settlement company. The CFPB alleged that the defendants charged thousands of consumers with federal student loans approximately $9.2 For more information, click here. For more information, click here.

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Troutman Sanders

OCTOBER 16, 2023

On October 11, an automotive management company settled claims by the Department of Justice (DOJ) alleging that the company had violated the False Claims Act by knowingly providing false information in support of its Paycheck Protection Program (PPP) loan forgiveness application. For more information, click here.

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Collection Industry News

NOVEMBER 13, 2023

Credit card delinquency rates also rose across the board, according to the New York Fed, but especially among millennials, or borrowers between the ages of 30 and 39, who are burdened by high levels of student loan debt. The average annual percentage rate is now more than 20% — also an all-time high.

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Sawin & Shea

APRIL 17, 2024

While different from Chapter 11, Chapter 13 is similar in the sense that it involves reorganizing and consolidating debts. You will not be able to discharge: Family and child support Most student loans Most local, state, and federal taxes How Does Filing Bankruptcy Impact Your Standing with Credit Bureaus?

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Credit Corp

FEBRUARY 28, 2021

COVID-19 loans for bad credit are on the rise—but do they deliver, or do they make things even worse? Economic injury disaster loan : If you’re a small business recovering from an economic disaster—the COVID-19 pandemic, for instance—you could be eligible for a loan from the SBA. The Consolidated Appropriations Act, 2021.

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The Kaplan Group

AUGUST 18, 2020

Here are 5 things to think about when you are considering taking out a loan. It’s true that debt that helps you manage your finances, such as a consolidation loan, can be considered good debt. Good debt includes student loans which can help you get a new, better paying job. Debt will not solve a planning problem.

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Collection Industry News

MAY 24, 2021

She’s actually more concerned about the weight of student loans. Student loan debt is debt that you can never get rid of in most cases. Because of that, Orman suggests tackling your student loan or other secured debts before clearing your credit cards. Save big on every purchase.

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Burr Forman

DECEMBER 23, 2020

Congress passed the Consolidated Appropriations Act, 2021 (the Act) on December 21, 2020. Key provisions of the Act include: Under the CARES Act , expenses paid with Paycheck Protection Program (PPP) proceeds could not be deducted if the PPP loan was forgiven. Numerous changes and extensions of targeted credits and incentives (e.g.

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Collection Industry News

JANUARY 13, 2024

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% A lower interest rate would allow some borrowers to refinance high-interest loans.

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National Service Bureau

JULY 30, 2015

Student loans generally fall into two categories: federal student loans and non-federal student loans. Federal loans for students: Federal loans fall under one of several categories. Ford Federal “Direct Loan” Program, or the Federal Family Education Loan “FFEL” Program.

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Sawin & Shea

AUGUST 30, 2023

It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Car loans (unless you allow your car to be repossessed, in which case you will not owe any past payments). Most federal student loans. Personal loans. Payday” type loans. Alimony payments. Court fines.

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