The U.S. Department of Education’s (“DOE”) promise of a kinder and gentler response to complaints to discharge federal student loans in bankruptcy has been long awaited and may have arrived. On November 17, 2022, DOE announced a radical departure in how it will analyze these types of cases. The new procedure can result in DOE...
Unlike federal student loans, private student loans have a statute of limitation. Some student lenders attempt to extend the statute of limitation to as long as 20 years by inserting language in student loan contract claiming it is one being executed under seal. A contract under seal is an arcane concept derived from colonial times...
Chapter 13 can provide a glimmer of hope to homeowners struggling to make 2nd mortgage payments. Getting rid of a second mortgage mortgage in a chapter 13 bankruptcy has become routine in many jurisdictions like New Hampshire and Massachusetts. As a bankruptcy lawyer who has filed a couple of dozen of chapter 13s to strip...
[caption id="attachment_298" align="alignleft" width="150"] The CARD Act's hidden dirty little secrets[/caption] While most consumers celebrated the new changes brought about by the CARD Act beware of two loopholes that can catch unknowing credit card users in a costly mistake. Banks vehmently opposed to the CARD Act put their collective heads together and devised ways to...
[caption id="attachment_288" align="alignleft" width="150" caption="It's never too early to start teaching kids about money management."][/caption] Every day in our practice, we see the devastation that financial insolvency creates not only for the client, but also the ripple effect that it has on the rest of the family. One way to prevent financial disasters for the...
[caption id="attachment_225" align="alignleft" width="200" caption="With the implementation of the CARD Act banks are becoming more creative with their hidden fees and charges. "][/caption] Just when you thought the waters of big banking were safe to venture into once more, big banks are desperately chomping after consumer dollars with new fees and charges on consumer accounts. After...
Credit cards offering rewards miles and other incentives may seem like a good deal, but let's look at the fine print to learn more. [caption id="attachment_140" align="alignleft" width="239" caption="Now is a great time to review the 'rewards' cards in your wallet"][/caption] With the recent CARD Act going into effect on February 21, 2010, consumers are...
[caption id="attachment_134" align="alignleft" width="300" caption="The building blocks of a good personal budget are as easy as 1-2-3."][/caption] Everywhere you turn, conversations revolve on tightening and maintaining strict budgets. If you, like millions of Americans, weren't taught how to properly create and keep a budget in high school or college, then all of those financial conversations are...
[caption id="attachment_118" align="alignleft" width="300" caption="Past Due Notices and Collector Calls Can Push Debtors into a Rash Decision"][/caption] If the phone never stops ringing and bill collectors are harassing you morning, noon and night, you're not alone. With millions of Americans facing financial peril due to job loss, medical bills, or other financial hardships, it's no...
[caption id="attachment_76" align="alignleft" width="300" caption="Even Santa might be tempted to max his credit this holiday. (Photo Courtesy: Getty Images)"][/caption] Reports from last week’s Black Friday holiday shopping tell the tale of shoppers who are using their credit cards a bit less than last year. According to a National Retail Federation survey of 8,692 consumers reported...