Today, a legislator introduced a bill to treat student loan debt as other unsecured debt in a bankruptcy filing. This would be huge! As everyone knows, a bill isn’t a law and it could be awhile, but if this gains steam, we may have some relief for graduates over the…
I’m looking for someone fitting this description to help to publicize this problem – CNN Money is interested in doing a story – Please contact me if you know someone who would be willing to share their story and be interviewed. Plus I may be able to help… Stay tuned,…
A three judge panel federal court ruled recently against Dell Computer when Dell continued to use an automated dialing system to make debt collection calls to a consumer. This consumer had written Dell asking it to stop calling her cell phone. Dell ignored the letter. The 3rd Circuit Court of…
There are new TPD (disability) regulations going into effect on July 1, 2013 to help our student loan clients in Florida and elsewhere. These new changes apply only to applications received after July 1, 2013. In a nutshell, the significant changes are designed to make an application much more streamlined!…
Earlier this year, total student loan debt surpassed credit card debt for the first time ever. Student loan debt and the resulting high tuition are without a doubt in a huge bubble after having raised 800 percent in the past few years. After graduation, students are presented with the bill…
Too late for many, but at least a step in the right direction, Senator Al Franken (D-Minn) introduced the Understanding the True Cost of College Act on May 24, 2012. Were you aware that the Truth in Lending Act which requires disclosure of the cost of credit in home and…
Last month, it was well publicized that student loan interest rates were about to double unless Congress acted. Actually, this only involved subsidized Stafford loan interest rates. However, President Obama made the most of it and traveled around the country garnering support to help students. At the last minute, Congress…
What if I’ve co-signed my children’s student loan debt that is now in default? Here in Tampa, Florida, I just read an outrageous story today in Nation of Change that exemplifies the problems in the world of student loans. Basically, shortly out of college, this man’s son was killed in…
Debt collectors excel at taking advantage of student loan borrowers by misrepresenting the law and options available to borrowers. Common violations we see in Florida are: 1) Misrepresenting that the collector may use federal powers such as Social Security offsets or administrative garnishment of wages; 2) Providing inaccurate information about…
For the first time ever, student loan debt has surpassed credit card debt as student loan debt reaches the $1 trillion mark per a recent Bloomberg article. Student loan debt collection has become big business. Contracted student loan debt collectors’ profits surpass $1 billion in 2011 alone! Little wonder when…