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How Does Chapter 13 Bankruptcy Work? Posted on Aug 26, 2016 By Ed Woods August 26, 2016 by Ed Woods One very powerful remedy that financially strapped consumers have is a discharge pursuant to Chapter 13 of the federal Bankruptcy Code. Chapter 13 bankruptcy is so named because it is Chapter 13 of Title 11 of the United States Code.
Steps to Take After Your Bankruptcy Discharge Posted on Jun 15, 2016 By Nick Gajewski June 15, 2016 by Nick Gajewski If you’ve just received a discharge in a bankruptcy case, then congratulations! You’ve just completed a difficult process and you’re ready to move on with your life and rebuild your credit. There are a few steps you can take to make the rebuilding process easier.
If you are permanently disabled, you may qualify to have your federal student loans discharged by the Department of Education. This only applies to federal student loans and is NOT a bankruptcy discharge. To Qualify for a Federal Student Loan Discharge To have your federal student loans discharge (wiped away) due to your inability to “engage in any substantial gainful employmen ...
The Great Recession of a few years back might be fading in the memories of some; however, in nine states across the United States, the job markets have not fully recovered according to a recent AP report. According to the report, the job numbers and overall size of the economy are still below 2008 levels in the nine states.
No one likes going down Memory Lane to recall regrets but as we get older and wiser most would say that the greatest learning experiences are revisiting past failures or mistakes. In a recent article in the New York Post, “Nearly three in four Americans regret doing one thing with their money”….. NOT Saving It!!! I can honestly tell you that in the past that I have been one of those Americans.
Every day I speak to someone who has student loan issues. More recently, I have people coming in asking what they can do once their IBR (Income Based Repayment) plan ends with the federal government. They are afraid of what will happen next. Borrowers now face a new dilemma. According to a recent article in USA Today, the President believes there are too many federal student lo ...
Bloomberg news is reporting that retail stores such as clothing stores, electronic sellers, and department stores are filing for bankruptcy protection at a record place in 2017. The rise in filings is attributed to a drop in traditional walk up retail business due to online retailers. 14 retail chains have stated they will seek bankruptcy protection in the year 2017 so far whic ...
Losing a job can be one of the most stressful and emotional events that can occur for someone. The shock of losing your job can emotionally take a toll on you and your family and the financial stress of wondering how you are going to make ends meet can be overwhelming. If you have lost your job, I hope these suggested steps will help relieve some of the stress on you during thi ...
It seems like Wells Fargo just can’t stay out of the news. A class action lawsuit was recently filed in the Eastern District of California, specifically Sacramento, California, alleging that Wells Fargo deliberately failed to update consumer credit reports following a Bankruptcy discharge. This, in essence, defeats the entire purpose of the fresh start of bankruptcy.
According to legal publisher LexisNexis, approximately 45% of those living in the United States have a Will. This is actually a pretty conservative number as other studies show numbers are even lower. Younger people are even less likely to have a Will than older people. I highly recommend everyone to get a Will prepared.
I have written before on Puerto Rico’s financial situation and the possibility of a bankruptcy filing. Now, the island has effectively filed for bankruptcy. Earlier this month Puerto Rico sought relief under Title III of a federal law called the Puerto Rico Oversight, Management, and Stability Act, or PROMESA.
This episode of the Next Lawyer Up podcast features attorney Joan-Marie Sullivan. If you have ever read the Alabama Law Weekly and picked up useful and up to the minute case law and information to use for your own cases, you have Joan-Marie Sullivan to thank. Joan-Marie has served as the editor of the Alabama Law Weekly for several years.
According to a Consumer Financial Protection Bureau (CFPB) report issued in January of this year, student loan debt has significantly increased among Americans age 60 and older. How much do you ask? Over the last decade, the number of Americans age 60 or older with one or more student loans quadrupled from 700,000 to almost 2.8 million.
Many people considering bankruptcy relief are aware or soon learn that student loan debt is non-dischargeable in bankruptcy. This is true for both federally guaranteed student loan and student loans issued by private lenders and has been true for many years. Student loan debt has exceeded credit card debt in this country for several years now. Currently it sits at approximately 1.
We have a high school senior this year and with graduation festivities around the corner, our focus has been how will be pay for college for our daughter the next four years! Whether your student has applied for scholarship opportunities or not, you need to be aware that there are school-based financial priority deadlines for Alabama’s four-year colleges.
In previous blog entries, I have detailed the Department of Justice’s (DOJ’s) corruption case against Kentucky attorney Eric Conn, Huntington West Virginia Office of Adjudication and Review’s (ODAR’s) Administrative Law Judge (ALJ) David Daugherty and Dr. Alfred Adkins for allegedly conspiring together to defraud the U.S.
I attended a meeting last week and I made the comment that I was seeing more and more consumers who have 8 years car loans. The response was, I have never heard of an 8 year car loan. I began to research how often 8 year car loans are offered and the pros and cons of an 8 year vehicle loan. The consensus seems to be that in order to finance a new vehicle for a monthly payment t ...
On April 25th, U. S. Bank National Association (“Bank”) was fined the sum of $15 million by the Office of Comptroller of the Currency (OCC) for violations of the federal bankruptcy laws. This fine must be paid into the United States Treasury. The Bank agreed to pay the fine but did not admit to any wrongdoing.
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