Debtors are presently denied the opportunity to participate in income driven plans in a Chapter 13 bankruptcy in most of Florida. Instead of allowing for an income based plan, the federal government places these loans in forbearance for the typical five year plan. Do you know what happens to a…
A national web based publication, The Dollar Stretcher.com, picked up our article “Could Student Loan Debt Derail Your Retirement“. We focused on sharing ways to avoid default and reducing student loan payments for Parent Plus loans. It’s a problem and one that is only recently getting attention. Too many parents…
There are limits as to when a student loan servicer can contact someone other than the borrower. They cannot call the borrower’s place of employment if the borrower asks them not to. They cannot robocall the borrower’s cell phone when the borrower asks them not to. They cannot discuss the…
Are you a teacher? A police officer? A fire-fighter? Work in any capacity for local, state or federal government or a non-profit? Having doubts about whether your federal student loans are going to be forgiven after ten years of public service? Join the club. Here are five things you should…
Garin Flowers of Channel 10 ran this story this week with a married couple we have represented with Parent Plus loans. These loans had doubled before they came and consulted with us for repayment options. When the financial crisis hit in 2008, they were forced to go on forbearance for a…
We’ve been spending quite of bit of time lately researching all the ins and outs of Public Service Loan Forgiveness (“PSLF”). One of the issues that has caught our attention is the failure to communicate to FFEL borrowers the need to consolidate their loans to the newer Direct loans and…
Unfortunately, some people feel they have no way out when it comes to their student loans. These are usually folks who have tried their best to pay for 10 or more years and are no further along than when they started. Most feel the debt will haunt them for their…
“Ten Years of Garnishment Down the Drain”: In this series of Real Life Examples, I would like to highlight a potential client who came to us after ten years of wage garnishment at $400 a month. They were upset that the loan balance had not gone down at all, but…
The Wall Street Journal reported today that the current administration intends to roll back some of the protections put into place by the Obama administration such as the gainful employment rule. This will enable hundreds of for-profit schools to remain open that were at risk of closing. Not sure if…
“The Lost Ten Years”: Sometimes I get a little focused on the more unique and “outside the box” solutions that I tend to blog about, and I forget that little things are just as important to obtaining the right result. So I hope to publish a series of Real Life…