Student loan payments have been paused since March 27, 2020. However, they are set to resume on October 1, 2021. A handful of United States senators are currently working to urge Biden to extend the pause on payments “until at least March 31, 2022”. According to economists, ending the pause may lead to widespread missed […]
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Federal law governing mortgage servicing, the Real Estate Settlement Procedures Act (“RESPA”), gives you the right to submit a “notice of error” to your servicer. Servicers must investigate and respond to your notice in a timely manner, either by confirming and correcting the error or explaining why it determined that there is no error. If […]
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Before you file for bankruptcy, you must take a credit counseling course. Upon completion of this course, you will be granted a certificate. This certificate will be filed alongside your bankruptcy petition. Your petition will detail what chapter you are filing, as well as information about your assets. If you are struggling with debt, contact […]
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Answer: It depends on what kind of loans you have and how far behind you are. With federal loans, your options are generally forbearance, deferment, consolidation or rehabilitation. For private loans, your options are limited to whatever accommodations your lender is willing to give you. I can counsel you on your options and help you […]
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Critics of student loan forgiveness widely assert that the policy would mostly benefit individuals who are financially well-off. This assumption is made with reasoning that attending college leads to higher earnings. However, new research refutes this assumption. According to a recent study, that “the biggest benefits of cancelling student debt would go to those with […]
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If you face foreclosure, it could very well be due to a lender error. Even if you do not believe your lender has made a mistake, it is important to talk to an experienced lawyer. In many instances, a borrower may overlook a lender error, as borrowers are often not informed of their rights. There […]
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What is the “341 meeting of creditors” that occurs during your Chapter 7 bankruptcy case? The 341 meeting of creditors is a hearing, where you are put under oath by the bankruptcy trustee. You are required to verify your identity, and answer questions pertaining to your bankruptcy petition. The aim of the meeting is the […]
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There has been a freeze on student loan payments since March 2020. However, student loan debt still has not failed to wreak havoc on the mental health of borrowers. In a new survey by Student Loan Planner, “1 in 4 respondents had suicidal ideation at some point due to student loan debt” and “1 in […]
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A bankruptcy trustee is a court appointed individual, in charge of ensuring maximal assets are distributed to the debtor’s creditors. The trustee analyzes the debtor’s bankruptcy petition, in order to ensure the financial details included in the petition are accurate. The trustee conducts a hearing while the debtor is under oath, as the trustee asks […]
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President Biden has asked Education Secretary Miguel Cardona to look into the president’s ability to cancel up to $50,000 in student loan debt through executive action. The cost of attending college has risen significantly in recent decades, making the aid of student loans a necessity for a great number of individuals. According to an analysis […]
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