Private student loans are the worst debt in America, bar none. Lenders have flocked to making private student loans, knowing there are few legal protections available to borrowers. I can get rid of IRS debt in a bankruptcy easier than I can student loan debt. One of my clients was told his payment would be...
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...
When a consumer files bankruptcy, the bankruptcy court warns creditors they may face a lawsuit awarding damages and attorney’s fees unless all debt collection stops. The technical term for failing to do so is violating the “automatic stay.’ As it sounds, this protection takes effect automatically. It is intended to provide some ‘breathing space’ from...
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_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_102" align="alignleft" width="173" caption="Elizabeth Leamy's Save Big CAN change your financial future."][/caption] Everyone knows that the top New Year's resolution is to lose weight or live a healthier life, but do you know what ranks as the #2 resolution? The second most popular resolution is to get out of debt and gain more control...