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Articles and Updates

2404, 2017

Defeat LVNV Funding Lawsuits With These Magic Words

Being Sued for a Debt? Just Follow These 3 Steps: STEP 1: Enter your information below. STEP 2: Talk with one of our attorneys to review your options. STEP 3: Commit to a plan of attack. If a debt collector like LVNV Funding sues you for money, you may be able to win the case. You just need to be willing to stand up for yourself and remember some simple advice. In a story heard on This American Life, reporter Jake Halpern interviews a Georgia couple

1004, 2017

Don’t Be Fooled by These 6 Lies Told by Student Loan Servicers

The government is suing student loan giant Navient, claiming the servicer isn't looking out for borrowers. Navient agrees, saying its role is to send bills, collect payments, process forbearances and manage the account. The student loan servicer acts in the lender’s interest, claims Navient - not yours.In other words, Navient isn't even pretending to help you. If there's a better strategy available to manage your student loans, don't expect your servicer to mention it.  A servicer’s role is to collect payments owed by borrowers. In that role, the servicer

2801, 2017

Who Is National Collegiate Student Loan Trust?

If you've been sued for a private student loan by National Collegiate Student Loan Trust, there's a good chance you have no idea who they are. Here's what I know, and what you need to know. Have a private student loan? Chances are pretty good that National Collegiate Student Loan Trust is involved. This entity isn't a lender, servicer or guarantor of your loan. Instead, it's a series of trusts that contain private student loans packaged and sold as investment vehicles. Due to the convoluted ways in which these

207, 2016

What the 2016 Democratic Party Platform Says About Student Loans

The 2016 Democratic Party's draft platform has some major wins for those struggling with student loan debt. Whether you end up supporting the Democrats or Republicans in the 2016 presidential election, it's useful to know where each side stands on the issues of concern to you.Here's what the Democrats have to say:Democrats will allow those who currently have student debt to refinance their loans at the lowest rates possible. We will simplify and expand access to income-based repayment so that no student loan borrowers ever have to pay more than

2201, 2016

Here’s When You Shouldn’t File for Bankruptcy to Discharge Your Student Loans

Contrary to news reports, there are times when you can wipe out student loans in a bankruptcy case. To do so, you're required to not only file for bankruptcy but also to file a separate lawsuit and prove that the debt amounts to an undue hardship. If you can meet the standard required under the bankruptcy laws then you will be able to wipe out your student loan obligations - but if you fail then you're going to walk out of bankruptcy saddled with the same bills as when you

1401, 2016

Why You Should Always File Your Tax Returns Before Bankruptcy

A few years ago I had a client who needed to file for bankruptcy. He was a talented musician who'd had a few good years but when tastes in music shifted he was left behind. Now he was working an entry level job at 56 years old just to make ends meet. And he was deep in debt to the government for unpaid income taxes. The IRS and the state taxing authorities were coming after him, threatening wage garnishment. His income was barely enough to get through each month, and

2911, 2015

The Bible on Debt and The Morality of Bankruptcy

Let’s talk about the morality of being in - and being unable to get out of - debt. There's no clause in a credit card contract that speaks to morality or ethics. There are bad people who have credit cards and pay them on time. There are also good people who can’t make their payments on time. This is, after all, a business deal. There's a contract, and everyone agrees to be bound by whatever it says. If you pay back the money according to the terms of the agreement then

1011, 2015

4 Surprising Changes You’ll See After Bankruptcy

What does life feel like after bankruptcy? When you file for bankruptcy, it's usually because there's no better option for you to get your finances under control. Your credit's shot, your phone's ringing off the hook and the mail is piling up. You sit down with your bankruptcy attorney and plot out a course for completing the process. But if you're like most people, you're more focused on getting through the problem than what life will look like afterwards. You ask all the right questions about your credit after bankruptcy,

311, 2015

The Inside Scoop on Your Credit Report

You've been told time and time again the your credit report is an important part of your financial life. You're bombarded with messages telling you to check your credit report regularly so you can be sure it's correct and updated properly. Sounds good, right? Having a correct and updated document that's important to your finances is a worthy goal. The problem is that your credit report feels like an underground document, hidden from view and passed in the way spies exchange classified information in some Cold War movie. No wonder

2810, 2015

Corinthian Found Guilty of Deceiving Students, Paving the Way for Loan Forgiveness

Judge Gary Feinerman of U.S. District Court for the Northern District of Illinois on Wednesday ordered Corinthian Colleges to pay $531 million to former students of Everest, WyoTech and Heald for deceiving students about potential career prospects. The lawsuit, filed by the Consumer Financial Protection Bureau, accused the company of “fudging the numbers” and hiring its own graduates to boost job-placement rates and mislead students. The company did not fight the case and will not pay the judgment because it was dissolved in a bankruptcy earlier this year. The ruling, however, will likely be used by former