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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Credit Corp

AUGUST 17, 2023

If you haven’t submitted the FAFSA—a crucial step toward receiving financial aid or taking out student loans—now is the time to buckle down and get to work. FAFSA stands for Free Application for Federal Student Aid. You complete it to find out what type of financial aid you might be eligible for. What Is the FAFSA?

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Credit Corp

MARCH 21, 2023

million Americans have student loan debt, which totals over $1.7 If you owe tens of thousands of dollars in student loan debt, you’re not alone. million Americans have some form of federal or private student loan debt. Table of contents: Average student loan debt How many Americans have student loan debt?

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Student loans Student Loans Loans Education 98

Credit Corp

JULY 25, 2023

Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off. Are you looking for a creative way to pay off your loans?

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Loans Student loans Student Loans Lender 96

Debt Free Colorado

NOVEMBER 22, 2022

Are my Student Loan Debts Dischargeable in Bankruptcy? Student-loan holders now have a new path to freeing their debt through bankruptcy! In the past, discharging student loans was an almost impossible hurdle in bankruptcy. What do I need to know about discharging student loans in bankruptcy?

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Nerd Wallet

JULY 27, 2021

Institutional loans are a type of financial aid that colleges lend directly to their students. Students or their parents may be offered an institutional loan to fill the gap between the federal aid they are eligible to receive and the cost of attendance. The article What Is an Institutional Loan?

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Sawin & Shea

JULY 6, 2022

Some situations in which someone may sign a personal guarantee before filing bankruptcy include assisting a friend or family member in receiving a loan, and a business owner may sign a personal guarantee in order to secure funds for their company. A personal guarantee loan is a signed agreement stating that you’re liable for a debt.

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Sawin & Shea

OCTOBER 11, 2023

If the declarer keeps to the agreement, then at the end of the period, they can keep their otherwise nonexempt assets, and all most types of remaining debts are discharged. A Special Note About Student Loan Debt Can student loans be discharged in bankruptcy? What’s the Difference Between Chapter 7 and Chapter 13?

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Bankruptcy Student loans Student Loans Chapter 7 bankruptcy 52

True Accord

APRIL 12, 2022

The freeze on student loan payments has been a hot topic since the start of the pandemic—not just for borrowers, but for debt collection departments outside of the student loan debt sector. Debt collectors need to find ways to start engaging with borrowers now before student loans get added back on to the balance.

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Credit Corp

JULY 25, 2021

The interest rates for different types of debt vary widely. The Prime Rate Good Mortgage Interest Rates Good Car Loan Interest Rates Good Credit Card Interest Rates Good Personal Loan Interest Rates Good Student Loan Interest Rates. What Interest Rate Should You Expect on a Car Loan? In This Piece.

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Troutman Sanders

MARCH 16, 2023

On March 16, the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin entitled Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts. The compliance bulletin focused on the treatment of certain private student loans following a bankruptcy discharge.

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Credit Corp

MARCH 21, 2023

Currently, individuals with outstanding student loan debt owe as much as $100,000 or more, with more than 40% owing between $20,000 and $99,999. If you’re struggling with student loan debt, you certainly aren’t alone. Understanding your loan is an important first step in creating a viable plan to pay it back.

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Credit Corp

AUGUST 4, 2020

Yet higher education can be expensive, seemingly putting that dream out of reach for many students and families. Tuition at American schools has steadily increased for decades, so it can be hard for your average student to afford it. Student loans, including private and federal loans , are also commonly used to fund college.

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Loans Student loans Student Loans Government 96

Roths Child Law

FEBRUARY 29, 2024

Personal bankruptcies do not cover all types of debt While Chapter 7 and Chapter 13 bankruptcies can help with many debts, they won’t necessarily cover all of your debts. Student loans There is a vague chance a court would allow you to include student loans in your filing, but mostly, they’ll refuse.

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Bankruptcy Chapter 13 bankruptcy Student loans Student Loans 52

Credit Corp

SEPTEMBER 27, 2021

Almost 70% of students in North America take out student loans. Many students can’t afford post-secondary education without financial help. Loans are scary, and come with lots of disadvantages. Don’t fear, because we will be covering the most frequent student loan mistakes. Forgetting to Research.

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Student loans Student Loans Loans Education 81

Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Credit Corp

OCTOBER 31, 2021

If you feel burdened under the weight of student loan debt, you’re not alone. In 2019, the average student loan debt total per person was more than $31,000. The good news is that you may be able to get part or all of your student loans forgiven. Reduce Your Student Loan Payments. In This Piece.

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Collection Industry News

FEBRUARY 19, 2024

rose modestly during the final three months of last year as more types of borrowing ran into trouble, especially on the auto front, even as overall difficulties remained below levels seen before the onset of the COVID-19 pandemic. of outstanding debt was in some type of delinquency, up one-tenth of a percentage point from the third quarter.

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Student loans Student Loans Loans Government 40

True Accord

APRIL 5, 2023

But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. What’s Impacting Consumers and the Industry? High inflation and interest rates persisted in the first quarter of 2023. following a 0.5%

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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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Collection Industry News

NOVEMBER 10, 2023

After only moderate growth in the second quarter, total household debt balances grew $228 billion in the third quarter across all types, especially credit cards and student loans. In our last blog post, we hinted that there were some signs of stabilization for auto loan and credit card delinquencies.

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Credit Corp

APRIL 19, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. When used responsibly, credit cards can be a great tool for building credit. Let’s say your credit limit is $500.

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Credit Corp

APRIL 5, 2021

Student loans get a bit of a bad rep in the news related to the amount of debt they cause. But if you’re looking to advance your career with a necessary degree, student loans might offer a way to pay for your education so you can improve your future. So how do student loans work? Subsidized loans.

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Student loans Student Loans Loans Education 64

Credit Corp

AUGUST 25, 2020

As of early 2020, student loan debt in the nation had reached more than $1.5 More than 44 million individuals have student loan debt, and the average person with student loans owes a bit over $32,000—which is more than half of the average household income in the United States. Looking for a Student Loan?

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Sawin & Shea

JULY 8, 2020

But Chapter 13 can’t discharge all types of debt you’ve taken on. The kinds of debt that can typically be eliminated are credit card debt, medical bills, utility bills, evictions, repossessions, and personal loans. Certain types of debt are nondischargeable in Chapter 13 bankruptcy no matter your circumstances.

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Credit Corp

OCTOBER 6, 2023

Today, we go over the average American car payment as well as other statistics like the total auto loan debt in the United States. We also discuss how the average loan differs based on age and credit score. Experian ] The average loan amount for new vehicles is $40,657. However, this does not influence our evaluations.

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Loans Lender Credit Unions Credit Unions 118

Sawin & Shea

SEPTEMBER 14, 2022

Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy. Are Student Loans Consumer or Non-Consumer Debts? With consumer debts, co-debtors receive the protection of an automatic stay.

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True Accord

OCTOBER 10, 2023

Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. trillion in student debt under the CARES Act, student loan payments resume this month.

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Credit Corp

JUNE 14, 2023

More than 10% of subprime auto loan customers were behind on payments by 60 days or more in early 2021. We’ll break down when a car payment is late, as well as other common loans, so you’ll be prepared to pay your loans on time. How Late Can You Be on a Mortgage Loan Payment? How Late Can You Be on Student Loans?

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Troutman Sanders

APRIL 18, 2022

On April 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report titled Student Loan Borrowers Potentially At-Risk when Payment Suspension Ends. Pre-pandemic payment assistance on student loans. Pre-pandemic payment assistance on student loans. Multiple student loan servicers.

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Collection Industry News

JULY 22, 2023

The Biden administration announced Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. The relief is a result of fixes to the student loan system’s income-driven repayment plans. Working people have been made collateral damage by a dysfunctional student loan system.”

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Credit Corp

JULY 26, 2021

Several different types of joint debt pass straight to cosigners without going through probate. Let’s take a closer look at five different types of debt to see what might occur after the primary borrower passes away. Joint mortgages pass directly to co-borrowers, who become responsible for the loan. Car Loan Debt.

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Student loans Student Loans Credit Card Debt Loans 98

Sawin & Shea

JANUARY 12, 2022

Bankruptcy can often eliminate most of or make it easier to pay off your debt—it simply depends on the type of debt you have and the type of bankruptcy you file. Bankruptcy can often eliminate most of or make it easier to pay off your debt—it simply depends on the type of debt you have and the type of bankruptcy you file.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Student loans 52

Credit Corp

APRIL 9, 2024

The type of credit you apply makes a big difference in determining the size of your refund. A tax deduction reduces your taxable income, potentially lowering the amount of income you can be taxed on. A tax credit directly reduces the amount of tax owed. Both affect the amount of tax due, but they do so in different ways.

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Student loans Student Loans Education Loans 52

Collection Industry News

FEBRUARY 21, 2022

Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a bulletin detailing student loan servicers’ obligation to halt unlawful conduct regarding borrowers’ eligibility and benefits under the Public Service Loan Forgiveness (PSLF) Waiver. Source- site. We will be working closely with the U.S.

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Student loans Student Loans Loans Education 52

True Accord

JULY 13, 2023

The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. Lawmakers are looking for other relief options, but in the meantime, many consumers will face higher monthly scheduled payments than they can cover, leading to delinquencies across credit types.

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Credit Corp

MAY 16, 2023

These offers are a fairly new type of loan becoming increasingly popular across online retailers known as Buy Now, Pay Later. Similar to a loan, these services are paying for your purchase up front alongside your initial payment to the service. Be sure to check all terms and conditions before signing up for any loan agreement.

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