Is Your Student Loan Servicer Violating Your Bankruptcy Discharge?

The Consumer Financial Protection Bureau launched a lawsuit against student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), better known as American Education Services (AES). AES illegally continued to collect student loans that had been discharged in bankruptcy. They also sent false information about consumers to credit reporting companies. The CFPB seeks to force AES…

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How to Stop a Home Foreclosure in New York

Falling behind on your mortgage is one of the scariest, most distressing financial problems anyone could possibly face. Allowing foreclosure has all sorts of consequences, from ruining your credit for the next seven years to making it difficult to obtain housing in the future.  Fortunately, New York law does offer some options to distressed homeowners.…

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What You Can Do If Your Debt Collector Violates the FDCPA

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The Fair Debt Collection Practices Act (FDCPA) protects consumers from aggressive and unscrupulous debt collectors. The law has been in force since 1977 and was amended in 2010. Despite being a well-established law, many debt collectors continue to violate it with abandon. Over 4,000 FDCPA cases are filed each year, and consumers file over 60,000…

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Is it a Good Idea for Seniors to File Bankruptcy?

“Gray” bankruptcies are becoming more common. Is it a good idea? We’ll have to give you a lawyer’s answer on this one: “It depends.” Some seniors have too many assets to make filing worthwhile, some have so few assets they’re uncollectable anyway, and some are either working like anyone else or have circumstances that make…

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3 Ways to Stop Creditor Harassment

Nobody enjoys receiving collection calls. In truth, you don’t have to answer the phone when they call. You can usually ignore their emails and text messages. Paying creditors rarely works out in your favor, and unless they are likely to sue, you’re better off focusing on your day-to-day needs or saving the funds you’ll need…

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Bankruptcy and Tax Debt: What You Need to Know

In 2021, Americans failed to pay a record $688 billion on their tax returns. 23% of Americans have fallen behind.  If you fall within that 23%, then bankruptcy can be an avenue for eliminating some of your tax debt, though not necessarily all of it.  However, tax debt is a bit more complicated than other…

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What is the Role of Credit Counseling in Bankruptcy?

Bankruptcy law requires filers to undergo mandatory credit counseling before any debts are forgiven. Often, your attorney will link you with a non-profit credit counseling service. You can also find your own service. Any counseling service you use must be one of the list of agencies approved by the Department of Justice. You’ll be able…

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Understanding the Different Forms of Debt Relief

As you consider bankruptcy, you might have heard about other forms of debt relief, such as debt settlement, debt consolidation, and debt management. While these terms all sound very similar, there are important differences between them. You should understand how each of these programs works and how they might impact your life before making any…

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How Reaffirmation Agreements Work

A reaffirmation agreement is a voluntary agreement that allows a borrower to hold on to certain types of debts that might otherwise have been discharged in bankruptcy. For example, if you are filing Chapter 7 and wish to keep a house or a car for which you don’t have much equity, you may use a…

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How the Automatic Stay Protects You During Bankruptcy

When you file for bankruptcy, you gain protection under the “automatic stay,” which protects you from your creditors during the bankruptcy process. The automatic stay brings all collection efforts to a screeching halt. These include: Phone calls Letters Lawsuits Wage garnishments Repossession Foreclosure In most cases, the automatic stay remains active throughout the life of…

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