Florida has a history of being unusually lenient when it comes to debtor protections in bankruptcy. For one, we’ve opted out of the federal exemptions and have our own. The homestead protections are some of the best in the country. In some ways Florida’s exemptions are good, in others they…
Were you aware that when you tell a bill collector (including a student loan collector) to stop calling your cell phone, they must do so immediately? Well usually. It depends upon the type of telephone system the collector is using. If they are manually dialing the phone, then they can…
This is great news!! Many of us have been complaining about the Accrediting Council for Independent Colleges and Schools (“ACICS”) for the past year. This is the accreditor for both Corinthian and ITT. Both Corinthian and ITT were accredited up until the very day they filed bankruptcy. What does that…
Earlier this week I wrote about the transparency of costs of education and how private for-profit institutions are likely going to have to change their marketing to comply with stricter oversight by the CFPB and the accreditation agency for these for-profit private schools, ACICS. Well today I received an emailed…
We’ve been getting very interested lately in how schools, particularly for-profit schools, are representing the cost of education at their institutions. At ITT for instance, we’re learning that students were for the most part simply left in the dark about what their education would cost. By the time they learned…
I don’t think we have any Florida clients from these schools, but I hope this is a sign of what we can expect going forward for other for-profit schools (read ITT and IADT among others here) that misrepresent the costs of education. Funny, I am evaluating this issue right now…
I read a review a student loan client wrote about me last night and it presented a theme that I have witnessed over and over. Have you ever been told that you have no options when it comes to dealing with your student loans? If so, please keep reading. Here…
Ok, I have a bone to pick with Great Lakes. I formerly considered them one of the better student loan servicers out there. Not any more. On their website they offer free help and tell people not to pay a fee for student loan help that is free. It’s spelled…
The DOE is involved in a negotiated rule making process right now to expand its relief of federal student loans for misrepresentations or fraud regarding recruiting practices, marketing, and job placement at potentially fraudulent schools which may be subsequently closed or are under investigation. The DOE website briefly covers this…
Do you know what it means to rehabilitate federal student loans and why it is necessary? First, once a federal student loan goes into default, several consequences can occur including: Administrative wage garnishment; Income tax refund intercepts; Social Security offsets; A default is reported on your credit reports; and Loss…