You are “in default” on your federal student loan if you have not paid in 270 days (approximately nine months). Your wages can be garnished or your tax refunds seized. How do you stop seizure of your tax refunds?
Consumers have protections from their creditors, but consumers also have liability to their creditors. Knowing your rights and obligations is the best way to make informed decisions.
After January 1, 2018 borrowers whose student loans are forgiven due to “total and permanent disability” no longer have to pay federal income taxes on those forgiven loans.
We know that most fairy tales are fables designed to teach children a healthy respect for rules and society’s expectation. Some fairy tales were written to scare children to stay away from “bad places”, while others teach children to trust their common sense.
Query from a new doctor: I am a newly graduated medical professional and single mom. In the past six months I have earned more than 80K. I think this disqualifies me from Chapter 7. Even though I make six figures, I have A TON of student loans (private and federal). When I combine rent, childcare, […]
The IRS indicates it will give taxpayers and their representative written notice that the accounts are being transferred to the private collection agencies. The agencies are to send a second, separate letter to the taxpayer and their representative confirming this transfer.
11/22/17 – The Consumer Financial Protection Bureau (CFPB) took action against Citibank, N.A. for student loan servicing failures that harmed borrowers. . Specifically, the Bureau found that Citibank: Citibank misled borrowers into believing that they were not eligible for a valuable tax deduction on interest paid on certain student loans. The company also incorrectly charged […]
According to an article in Forbes, the 65+ demographic now makes up a higher percentage of bankruptcy filers than it did a decade ago. Filing for bankruptcy is seen by many seniors as a social stigma. Some live in a nightmare where they are forced to choose between paying a credit card or buying food; […]
Reuters reports that Richard Cordray, director of the Consumer Financial Protection Bureau, will step down at the end of the month. Large companies (banks, auto finances, pay day loans and student loans, to name a very few) are ecstatic because this opens the door for Trump to nominate a CFPB head who will go easier […]
Announcement from Martindale-Hubbell: your clients think you are wonderful and so do we! Because your clients have highly recommended you, we are thrilled to award you our new Gold Client Champion award!
The problem, say advocates, is that many senior homeowners don’t understand the fine print in a reverse mortgage. Some wrongly assume the lender will pay the taxes and insurance. But fall behind on those payments or fail to maintain the home, and the lender can foreclose. The surviving spouse is also subject to foreclosure if […]