Hassled by a debt collector?
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Owing debt you can’t afford stinks. Owing debt you can’t afford and being hassled for payment by a debt collector is even worse. You likely never meant to let the bill go unpaid, but sometimes life gets away from you and money problems occur.
Stressed about student loans
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Very few debts are ineligible for bankruptcy discharge. Among them are recent income taxes, alimony, child support, and student loans. Also, ineligible are debts taken fraudulently or via theft or other similar shady means. However, student loans weren’t always nondischargeable – so how and why did they get carved out of the federal debt relief mechanism?
Life can be better after bankruptcy
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For those deep in debt looking for a better way, Wilmington bankruptcy might be the answer. There are two types of bankruptcy to consider – Chapter 7 and Chapter 13. Outcomes vary slightly between these and which you can file hinges on your debt, income, assets, costs of living, and family size. No matter which you choose, there are some positive outcomes you’ll enjoy after filing bankruptcy.
Student loan servicer Navient facing another lawsuit
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Student loans can be burdensome, but Public Service Loan Forgiveness (PSLF) offers hope to millions of borrowers. This program offers debt relief through service to police, firefighters, teachers, nurses, social workers, and other public servants. But now, a new class-action lawsuit accuses federal loan servicing company Navient of shortchanging student loan borrowers and making their road to debt discharge needlessly difficult and, in some cases, impossible.
Is your car loan troublesome?
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Not every loan is a good deal. Perhaps you made a poor financing decision or had to borrow to buy a car when your credit wasn’t great. If you’re struggling to pay your car loan, bankruptcy offers some options. Here’s a look at some reasons that a car loan can fail, and how Greensboro bankruptcy might help.
Is refinancing or consolidating your student loans the right move?
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When you graduate college with student loans, it’s not just one big loan. It can be lots of smaller ones. To make things worse, they won’t all automatically fall under the same student loan servicer. It can leave you with a frustrating task when you want to request a change to an income-driven repayment plan or need a deferment, forbearance, or even answers to a question. Two ways to make your loans easier to manage are consolidation and refinancing. But what’s the difference and is either a good option for you?
How to avoid another bankruptcy
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Although many businesses love repeat customers, bankruptcy lawyers don’t usually want clients to have to come back to them. Ideally, after you get a bankruptcy discharge, you leverage that fresh start and enjoy a solid financial future.
Don't play dangerous games with student loans
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This week, Forbes reported a disturbing trend among some student loan borrowers engaging in what’s called strategic default. The site reports that there are “intentional” defaulters fighting back at what they call student loan slavery, servitude, and “economic terrorism.” While social protest can help change the world, it can also wreck your financial future if you’re not careful. For those considering taking a stand by not paying their student loans, here’s what you need to know.
Celebrity bankruptcy - another Real Housewife has money problems
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Reality TV is rife with celebrity bankruptcy filings, and no franchise has more cases of insolvency than The Real Housewives. Filers include those from the New Jersey, Atlanta, Beverly Hills, Orange County, NYC, and DC segments of the show. The latest housewife to go bust is Barbara Kavovit - a recent addition to The Real Housewives of New York City. Here’s what happened with this reality show drama and how it could help Greensboro consumers gain insight into their finances.
Adversary proceedings are the tool to fight student loans in bankruptcy
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If you’ve got student loans you can’t afford, one of the possible routes to relief is bankruptcy discharge. Before the 2005 bankruptcy reform act, it was much easier to unload student loans in bankruptcy if your financial situation was rocky. Post-2005, it became much harder - almost impossible in fact. But now the tides are turning again and it’s increasingly possible to diminish or eliminate your student loans in bankruptcy, but step one is an Adversary Proceeding. Let’s look at what it is and why it’s necessary.
Celebrity bankruptcy of Top Chef Mike Isabella
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Today’s celebrity bankruptcy alert is about Top Chef contestant Mike Isabella. Many reality stars fall prey to financial problems for many reasons. Dance Moms diva Abby Lee Miller had problems paying the bills at her Pittsburgh dance studio, filed Chapter 13 and hid her reality show income. That led to time behind bars. Many of the Real Housewives stars wound up in bankruptcy and some, like RHONJ personalities Joe and Teresa Giudice, faced jail time over lying to the court. This time, it’s business bankruptcy and a rockstar chef making headlines. These celebrity cases are always informative for anyone considering Wilmington bankruptcy and wondering what filing for debt relief can do for them.
Student loans out of control?
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Roughly 25% of all adults now carry student loans as one of the 44 million Americans with college debt. With a total price tag of $1.5 million and rising by the day, it’s a looming debt disaster on a personal and national level. For those who can afford the debt, that’s a good thing, but even so, it might come at a great sacrifice of other life goals. For those who can’t pay their college loans, the consequences can be dire. Here’s why student loans are so dangerous and how you can get help.
Personal loans are on the rise - do you owe more than you can afford?
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Personal loans are the fastest growing source of consumer debt according to new research. Personal loans increased year over year by double digits, far outstripping growth in other categories. If you have a personal loan you can no longer afford, you may like to know that Greensboro bankruptcy can help. These loans are unsecured, and that means they’re usually fully dischargeable in Chapter 7 and can be settled for pennies on the dollar in Chapter 13 (circumstances depending). As long as you took on the debt in good faith, it should be eligible for bankruptcy discharge. Here’s the latest on this trend.
What are your options for student loan repayment?
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It’s far too easy to take on student loans. Federal loans to students don’t require a credit check, and they don’t cap the amount you borrow based on your ability to repay. When it comes time to pay back Uncle Sam, there are different repayment options. Today we’ll dig into those and also consider what happens if you can’t afford to pay at all.
Plagued by calls from debt collectors?
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Owing debt you can’t afford can be scary - especially when aggressive collectors are involved. Many debt collectors follow the letter of the law, but others cross the line and can threaten or try and intimidate you. Wilmington bankruptcy can stop aggressive debt collectors and shut them down for good while also relieving your debt. It offers instant peace of mind.
Student loan changes are coming
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Currently, most student loans are federal student loans. But there are significant changes afoot for student loan borrowers. The current presidential administration is looking to redefine the college loan market to make it more competitive and possibly more affordable. Will these shifts come to fruition is one question. Initiatives don’t always make it to the law or regulation stage. Plus, whether they’ll benefit borrowers, as intended, is another concern. Here is what’s in the wind.
Is the clock running out on your debt?
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From the moment you go delinquent on debt in Greensboro, North Carolina, the creditor can come after you to collect what is owed. They have the right to use whatever legal means are available to get the money from you. They will also tack on late fees on top of the debt and collection agency fees if they enroll an outside firm to help. These efforts may continue until you pay or the statutes of limitation expire. But what does that mean?
Are you borrowing too much in student loans?
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Not all debt is bad. Some debt is good because it empowers you to make changes to your life that you couldn’t if you had to pay cash for everything. That applies to a home and college education, in particular, since most cost too much to pay out of pocket in a lump sum. But if you get in over your head, the opportunity could turn into a financial crisis. When it comes to student loans, how much is too much?
More seniors than ever are filing bankruptcy
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An unprecedented number of seniors are now filing bankruptcy. New research has shown that since 1991, bankruptcy filings for Americans 65 and older have tripled. Data from the Consumer Bankruptcy Project shows that seniors now make up a larger percentage of bankruptcy filers than ever. The takeaway is that bankruptcy is the last hope for many older Americans and the problem is growing.
Gaming your way out of student loan debt
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Student loans are no fun, but a new TV show would convince you otherwise. While college debt continues to rise, Americans are looking for new and creative ways to unload their student loans. A new game show on Tru TV aims to put the fun in finance and help contestants eradicate debt.
