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Wilmington Consumer Tip: 5 Things Debt Collectors Can’t Do and How to Shut Them Down

Submitted by Rachel R on Wed, 05/16/2018 - 9:20am

Collection calls

Put an end to harassing debt collector calls

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There’s nothing quite so persistent and relentless as a debt collector chasing dollars. When your creditors are after late or missed payments, they may get increasingly aggressive to get what they’re owed, but they typically play by the rules. It’s when an agency takes on the debt on behalf of a creditor or, even worse, when a debt collection agency buys the debt, that things can get out of hand for Wilmington consumers.

Lost Your Job? What To Do About Student Loans While Unemployed

Submitted by Rachel R on Tue, 05/15/2018 - 9:42am

Help

Get help with student loans when you're unemployed

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No one wants to be laid off from their job, but unemployment can be doubly frustrating when you owe student loans. Losing a job can throw your finances into a perilous situation unless you are well-armed with an emergency fund and lots of savings to see you through the crisis. Most people aren’t prepared to lose a job and even less so when they’re dealing with costly student loan debt.

7 Advantages of Filing Greensboro Bankruptcy

Submitted by Rachel R on Mon, 05/14/2018 - 9:33am

Seven

Seven reasons to consider Greensboro bankruptcy

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No one wants to be stuck with debt they can’t afford. If you find yourself overwhelmed by bills, living paycheck to paycheck, and dealing with debt collectors, Greensboro bankruptcy may be the best answer for you. There are numerous advantages to choosing bankruptcy for debt relief - here are seven of them for your consideration.

Yes, Your Spouse’s Student Loans Can Affect You – Here’s How

Submitted by Rachel R on Fri, 05/11/2018 - 9:48am

Student loan marriage

Considering marriage? Student loans could impact your future!

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When contemplating marriage, you usually think about the compatibility of lifestyle, preferences, perhaps religion, and, of course, chemical attraction. But one thing that doesn’t often make the roster of top considerations (but should) is student loan debt. The realities of skyrocketing school debt are that it impacts not only the future of the borrower but anyone to whom they hitch their wagon. Here’s what you need to know.

Don’t File Wilmington Bankruptcy Without a Lawyer – 5 Reasons Why

Submitted by Rachel R on Wed, 05/09/2018 - 10:10am

Lawyer

Don't try Wilmington bankruptcy without a lawyer

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So, you are considering Wilmington bankruptcy and thinking of doing it without a lawyer. The letter of the law allows you to represent yourself in any civil or criminal matter in the courts. It’s okay if you go it alone in small claims or traffic court, but diving into the waters of federal bankruptcy law without a lawyer is akin to repping yourself for a murder charge or trying to perform heart surgery on yourself.

Student Loan Forgiveness, Discharge, and Cancellation Explained

Submitted by Rachel R on Tue, 05/08/2018 - 9:58am

Student loans

How to get rid of student loans

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Student loan forgiveness, discharge, and cancellation all mean one thing: you can finally see an end to debt that’s been weighing you down for years, possibly even a decade or more. If you’re one of the 44 million Americans currently struggling with student loans or one of the five million now in default, it’s worth exploring what these terms mean and how you might be able to ditch your debt.

5 Reasons Most People File Greensboro Bankruptcy

Submitted by Rachel R on Mon, 05/07/2018 - 9:14am

Bankruptcy reasons

Top reasons for Greensboro bankruptcy 

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Greensboro bankruptcy offers a second chance for individuals who are drowning in debt. It can often provide needed breathing space and a path towards financial stability. But what makes people file bankruptcy? What kind of financial troubles lead to filing? Here are five of the most common reasons people choose this legal path to federal debt relief and protection from aggressive collectors.

Problems With Student Loan Public Service Loan Forgiveness

Submitted by Rachel R on Fri, 05/04/2018 - 9:20am

student loans

Is PSLF broken?

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Student loan debt can be a good thing because it lets many people go to college who otherwise might not be able to. When it spirals out of control, though, it can be devastating. Programs to help graduates conquer their student loan debt are few and far between. One of them that’s currently at risk is Public Service Loan Forgiveness (PSLF). There are several problems with the program and an uncertain fate. If you qualify, you should make sure you’re on track to get the full benefit.

Is Credit Card Debt Making You Sick? Wilmington Bankruptcy Can Help

Submitted by Rachel R on Wed, 05/02/2018 - 9:28am

Credit cards

Don't let your credit cards make you sick

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Debt is a fact of life in the modern era and, to a certain extent, some debt can be healthy. It’s what allows you to buy a home or new car and have a buffer line of credit in case of a cash crunch or emergency. However, too much debt can quickly turn into a financial crisis. Not only that, but did you know that excessive debt can make you physically sick according to research? Learn more, and then see how Wilmington bankruptcy can help.

What is “Discretionary Income” for Student Loan Repayment Purposes?

Submitted by Rachel R on Tue, 05/01/2018 - 8:45am

Payments

Can you afford your student loan payments?

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Student loan debt continues to soar. According to data from Experian, student loan balances have jumped nearly 150% over the last decade to a record high of $1.4 trillion. With average individual loan balances climbing past more than $34,000, student loan repayment has become problematic for many North Carolina consumers.

3 Last Ditch Things to Try Before Greensboro Bankruptcy

Submitted by Rachel R on Mon, 04/30/2018 - 9:11am

Three things before bankruptcy

Consider these three things before bankruptcy

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For some Greensboro consumers struggling with debt, the idea of filing bankruptcy is stressful – the notion may scare or embarrass them because they feel like it’s giving up or makes them a failure. In fact, bankruptcy is not an end, but the opportunity for a fresh start like you can’t get with any other debt relief option short of winning the lottery and having all your problems solved instantly. Since the odds are against that, if you’re drowning in debt, bankruptcy is a practical option.

What Is Undue Hardship – And How Does It Affect Student Loan Discharge in Bankruptcy?

Submitted by Rachel R on Fri, 04/27/2018 - 10:03am

Undue hardship - student loans

Can you prove undue hardship and shed your student loans?

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Many people wrongly believe that student loans are not dischargeable in bankruptcy. In fact, they are, but you must meet certain circumstances to earn the discharge. Private student loans are easier to dismiss in bankruptcy while federal loans present more of a challenge. The primary barrier to student loan debt relief in bankruptcy is that so few people seek it.

How Personal Loans From Friends And Family Are Treated In Wilmington Bankruptcy

Submitted by Rachel R on Wed, 04/25/2018 - 10:35am

Personal loan

How are personal loans treated in Wilmington bankruptcy?

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Bankruptcy can be the perfect way to climb out of unmanageable debt. A discharge in Chapter 7 means ditching unsecured debt while Chapter 13 leaves you paying pennies on the dollar on unsecured debt in many instances. However, if you have personal loans owed to friends and family when you go into Wilmington bankruptcy, you may be torn about how to proceed.

New Class Action Suit Could Make It Easier to Discharge Student Loans in Bankruptcy

Submitted by Rachel R on Tue, 04/24/2018 - 9:04am

Student loans and bankruptcy

New class action suit promises hope for student loans in bankruptcy

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You may have heard the prevailing misconception that student loans are not dischargeable in bankruptcy. This is misinformation and, in fact, among those who request relief, roughly 40% get a partial or total discharge of school debt in bankruptcy. The issue is that less than one-half of one-percent of bankruptcy filers ask for help with student loans. Now, a recent class action suit against student loan lender Navient could make it even easier to discharge student loans in bankruptcy.

Will You Face Creditors at the 341 Meeting in Your Greensboro Bankruptcy?

Submitted by Rachel R on Mon, 04/23/2018 - 9:23am

341 meeting of creditors

Don't stress about the 341 Meeting of Creditors

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In the majority of Greensboro bankruptcy cases, the petitioner rarely appears in court. Your North Carolina bankruptcy lawyer will take care of pretty much all the court appearances. That is why most people who file bankruptcy rarely (if ever) see a bankruptcy judge and may never step inside a courtroom. If one of your apprehensions about filing bankruptcy is going to court, rest assured. For most standard bankruptcies, you are required to appear just once - for the 341 Meeting of Creditors.

Can You Discharge Student Loans in Bankruptcy?

Submitted by Rachel R on Fri, 04/20/2018 - 10:01am

Student loans and bankruptcy

What you need to know about student loans and bankruptcy

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You may have heard that it’s pretty much impossible to discharge student loan debt through bankruptcy. That’s not true. It’s not automatic, and it takes some extra work, but if you meet certain requirements, you might qualify for bankruptcy relief of some (or all) of your student loan debt. The reason so few people discharge college debt in bankruptcy is that so few even try.

Which Generation Is Most in Debt and Most Likely to File Wilmington Bankruptcy?

Submitted by Rachel R on Wed, 04/18/2018 - 10:03am

Baby boomers

Baby boomers and debt can mean financial trouble

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Debt is one of the most discussed topics in America today – online, at work, and in Wilmington households. It’s not difficult to see why. Even with the economy booming (and perhaps because of the resurgence), we now owe more than ever. A recent study by Value Penguin shows total outstanding consumer debt in the US now exceeds 3.9 trillion dollars.

Behind on Student Loans? Two Ways to Save Your Finances

Submitted by Rachel R on Tue, 04/17/2018 - 10:23am

Student loans

Student loan relief is possible in bankruptcy

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Student loan debt is on the rise and is unique among types of debt because of the powers of the creditor and lack of statutory limits on collection. Federal student loans do not have a statute of limitations and debt collectors working for federal loan servicers have tools many other collection agents do not.

Can You Cancel a Reaffirmation Agreement In Your Greensboro Bankruptcy?

Submitted by Rachel R on Mon, 04/16/2018 - 10:47am

Reaffirmation agreement

Should you sign a reaffirmation agreement in Greensboro bankruptcy?

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When you file Greensboro bankruptcy, you can catch up on past-due debt with Chapter 13 or discharge lots of debt with Chapter 7. With Chapter 7, the process takes just a few months start to finish while Chapter 13 takes three to five years. However, sometimes there are debts you don’t want to include in your bankruptcy. In some cases, you can carve out exceptions, with the court’s permission, and sign a reaffirmation agreement with the creditor. But what if you change your mind?

Can Bankruptcy Help Wilmington Consumers With Old Income Tax Debts?

Submitted by Rachel R on Fri, 04/13/2018 - 10:43am

Income taxes

Got old tax debt in Greensboro? Bankruptcy may help

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When you get into a situation of unaffordable debt, the consequences can be far-reaching. One side-effect of money problems may be delinquent tax debt. If you didn’t have enough withheld from your paychecks during the year, you might find that you owe the IRS. When you’re already struggling to pay bills, it might be impossible to send Uncle Sam what you owe. With tax day just around the corner, on April 17, here’s what you need to know about unpaid federal income taxes.

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