Category Archives: Bankruptcy and Student Loans
Legal Obligations for Retailers After Filing Bankruptcy
Following the frenzy that ensued the recent Chapter 7 bankruptcy filing of bridal retailer Alfred Angelo, it has become all the more important for consumers to understand how a company’s bankruptcy filing could impact them. In the case of Alfred Angelo, many brides were left unsure of whether they would receive the dresses and… Read More »
New Bill: Bankruptcy Discharge of Student Loan Debt
Student loan debt remains a serious struggle for many Americans. More people are defaulting on their student loans and, according to data collected by the Federal Reserve Bank in New York, the amount of student loan debt continues to grow. In 2016, the level of student loan debt in the United States reached a… Read More »
4 Signs Bankruptcy Might Be on the Horizon
For big and small businesses under increasing financial burden, bankruptcy may be the best option. Depending on the type of bankruptcy a company chooses to file, it will either shut down or restructure. Business bankruptcies are sometimes the best way to discharge business debts and protect assets. Owners should consult with an experienced South Florida business bankruptcy… Read More »
Government Sues Student Loan Servicer Navient
On January 18, the federal Consumer Financial Protection Bureau (CFPB) and the Washington state Attorney General filed a lawsuit against Navient, the country’s largest student loan servicer. Illinois Attorney General Lisa Madigan’s office also filed a suit against both Navient and Sallie Mae. The Allegations Against Navient and Sallie Mae In the lawsuit, the… Read More »
Student Loan Defaults Hit Historic Numbers
According to the latest findings, Americans are struggling with student loan debt now more than ever. And while some of them are finding an answer to said struggles in government programs that restructure payments, the number of borrowers seeking student loan defaults are at an all-time high. Conflicting Numbers What is peculiar about the recent… Read More »
Defining Exempt Property in Chapter 7 Bankruptcy
When a debtor files for Chapter 7 bankruptcy protection, many of his/her assets must be turned over to the trustee. The trustee will then oversee the sale of the filer’s property to facilitate the repayment of accumulated debts. However, not all property is required to be turned over. It is essential for those contemplating… Read More »
Student Loan Discharge Available for ITT Students
ITT Educational Services Inc. officially closed all of its 137 campuses as of Tuesday, September 6, 2016. The decision comes after the controversy the company faced last month over the institute’s accreditation status. Financial Turmoil to Blame In August, the U.S. Department of Education informed ITT that it would be required to notify students… Read More »
Student Loan Discharge Available for ITT Students
ITT Educational Services Inc. officially closed all of its 137 campuses as of Tuesday, September 6, 2016. The decision comes after the controversy the company faced last month over the institute’s accreditation status. Financial Turmoil to Blame In August, the U.S. Department of Education informed ITT that it would be required to notify students… Read More »
Grads Clamoring for Student Loan Erasure
The Education Department is up to its ears in applications for student loan forgiveness. Data retrieved in early May showed that the department had received 19,657 applications from student loan borrowers — a number which has likely only grown since. Borrower Claims So, why the influx of grads seeking cancellation of student debt? Most… Read More »
Is Student Debt Hindering the Housing Market?
With the overwhelming amount of debt facing graduates today, it has become a popular belief that student debt is having adverse effects on the housing market. However, according to a recent report by University of Michigan economics professor Susan Dynarski, the information which has led many to believe this to be the case flaunts… Read More »
