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  • Can I File for Bankruptcy Without a Lawyer?

    | 9-Mar-2017

    When it comes to legal proceedings, it is best to view them in much the same way you would a medical concern. When there are issues with your health, you visit a doctor or often a specialist when you have a certain ailment because they have the experience and specialized training you do not. Lawyers function in the same capacity, and they offer the experience, insight, and tools to help guide you ...
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  • Why Our Board Certified Bankruptcy Specialists Set Us Apart

    | 1-Mar-2017

    Choosing the right attorney to guide you through your legal journey is one of the most important decisions you can make in your case – and it can make all the difference in securing a swift and successful outcome. By vetting attorneys based on their experience, reputation, and record of success, you can gain a better understanding of whether or not a lawyer has the tools to help you succeed. ...
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  • What If I Don't Own Any Assets?

    | 20-Feb-2017

    Many people who are unfamiliar with bankruptcy assume that they will automatically lose all of their property to pay back their debts, such as their home, their car, or other valuables. But what happens if you don’t have any assets? Is bankruptcy still an option? If you are struggling with debt but don’t own any assets, such as valuables, cash, or non-exempt property, that can be sold ...
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  • Will Filing for Bankruptcy Ruin My Credit?

    | 9-Feb-2017

    Many people who are considering filing for bankruptcy worry about how bankruptcy will affect their credit. Among the top concerns are whether it cause permanent damage or whether a person will ever be able to borrow money or have a credit card ever again. Fortunately, there is no reason to worry. While bankruptcy may affect your credit in the short run, it is a long-term debt solution that can ...
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  • Nation's Largest Servicer of Student Loans Sued by CFPB

    | 24-Jan-2017

    Navient Corp, the nation’s largest servicer of student loans, was sued by the Consumer Financial Protection Bureau (CFPB), alleging that they cheated borrowers by failing to provide the basic functions of student loan servicing. As a result, borrowers struggled to pay the higher payments demanded of them. Navient, which was once part of Sallie Mae, deceived consumers for years, according to ...
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  • Divorcing and In Debt: Reasons to File Bankruptcy First

    | 8-Dec-2016

    When considering divorce and bankruptcy, it is crucial to time these actions in a way that best makes sense for your circumstances. Generally, it is most beneficial to file for bankruptcy first since filing for both simultaneously delays any distribution of assets or liabilities. Filing for bankruptcy first may be difficult if you are on hostile terms with your soon to be ex-spouse, but ideal if ...
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  • According to a new article published by The Wall Street Journal, the federal government is currently on track to forgive United States student loan debt by about $108,000,000,000 as more consumers are seeking help to pay down their student loans, leading to lower revenues for the US’s program to finance higher educations. This information was disclosed in a report on Wednesday when the ...
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  • Can You Inherit Debt?

    | 5-Oct-2016

    For many family members, the stress of dealing with debt left behind can sometimes eclipse their grief for the loss of their loved one. Typically, the deceased person’s estate assets satisfy the claims of any creditors before they are distributed to beneficiaries, sometimes leaving survivors nothing to inherit. Even if the deceased’s assets do not adequately pay off remaining debts, ...
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  • Medical Debt and Bankruptcy

    | 22-Sep-2016

    In the United States, one of the top causes of personal bankruptcy is medical debt. The healthcare industry is responsible for more collections of debt than credit card companies. This is because medical expenses can reach into the tens to hundreds of thousands of dollars depending on the procedure. In some cases, medical bills also include out-of-network expenses — such as assisting doctors ...
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  • What Is The Brunner Test?

    | 9-Sep-2016

    When someone decides to file bankruptcy, they often wonder what kind of debts are dischargeable. One of the debts brought up most are student loans. While these are extremely difficult to discharge during bankruptcy, it is not impossible. Courts may consider allowing the student loans to be discharged if it can be demonstrated that paying them would cause an undue hardship. In order to determine ...
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  • If I Need to File Bankruptcy, How Can I Afford an Attorney?

    | 12-Aug-2016

    When a person makes the decision to file bankruptcy, it is because they are no longer able to afford their financial obligations. They may fall behind on credit card bills, personal loans, and other payments. With the addition of late fees and interest, they are not only unable to pay the original amount, but are driven even further into debt. With the decision to file bankruptcy, there comes the ...
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  • CFPB Proposes 3 Rules That Could Change the Payday Loan World

    | 2-Jun-2016

    Anyone who has ever had to use a payday advance knows that these short-term loans could have long-term implications. With sky-high interest rates (around 390% on average), one loan could spell years of repayments – essentially leaving a borrower already living paycheck-to-paycheck in an endless cycle of debt that is incredibly difficult to escape. In fact, the average payday loan borrower ...
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  • Government to Forgive Student Loans of 400,000 Disabled People

    | 19-Apr-2016

    The government has already begun sending letters to nearly 400,000 eligible people with permanent disabilities, informing them of the steps they can take to discharge their student loan debt. The letter campaign, which began yesterday and will continue over the next 16 weeks, included 387,000 people who have been identified as having permanent disability status – nearly 180,000 of which have ...
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  • 8 Tips for Paying off Student Loans Faster

    | 18-Mar-2016

    Millions of Americans are saddled with thousands or tens of thousands of dollars in student loan debt. In fact, student loan debt has become a national crisis, with $1.2 trillion worth of outstanding debt in the United States. Approximately 70 percent of bachelor’s degree recipients graduate with massive amounts of debt, all at a young age and often without lucrative jobs. As college costs ...
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  • Is an IRS Tax Settlement Right for Me?

    | 21-Jan-2016

    If you are struggling with old tax debt, you may be eligible for an IRS tax settlement, also called an “offer in compromise.” Through this process, which is similar to a credit card settlement, taxpayers who are unable to pay what they owe can settle by paying a fraction of that amount. An attorney at Wadhwani & Shanfeld can contact the IRS or state tax board and negotiate a ...
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  • While our nation’s economy has largely bounced back from the last recession, the majority of Americans are still living paycheck to paycheck and are struggling to save money for emergencies. An eye-opening study published by Bankrate.com has revealed that roughly 63 percent of Americans are one unexpected bill away from a major financial disaster. Two out of three people claim that they do ...
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  • How Much Does Your Post-Holiday Debt Really Cost?

    | 7-Jan-2016

    The holidays are over, but many Americans will continue to be reminded of them when their credit card bills come in the mail. In fact, holiday spending is responsible for a more than 25 percent spike in calls to consumer credit agencies seeking help for debt during the first few months of the year. If you have credit card debt from the holidays that you are not sure you will be able to pay off ...
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  • Student Loan Debt Crisis Harming Senior Citizens

    | 22-Dec-2015

    An article published last week by Bloomberg Businessweek tells the story of Robert Murphy, a 65-year-old man who holds nearly $250,000 in student loan debt. The balance was amassed from seven different Parent PLUS loans, which he used to send his three children to college. After losing his job in 2002, Murphy was no longer able to make payments on these debts, and even faced foreclosure ...
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  • Should I File for Bankruptcy After Christmas?

    | 18-Dec-2015

    Bankruptcy is often the last thing anyone wants to think about around the holidays, especially with so many things going on during this time of year. Many people think that putting it off until after the first of the year is the best option. However, some of the reasons why people tend to wait until after Christmas to file actually won’t help them at all. For example, many people mistakenly ...
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  • Why Millennials Are Saving Less for Retirement

    | 11-Dec-2015

    According to a recent study, young career-goers who enter the workforce without student debt are better set for retirement than their indebted counterparts. Specifically, millennials with $30,000 in student loan debt are more likely to enter retirement with significantly less savings than other graduates their age. In fact, students who graduate with debt could end up retiring with as much as ...
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  • Bankruptcy Appellate Panel Rules on Statute of Limitations Argument

    | 19-Nov-2015

    The Bankruptcy Appellate Panel (BAP) of the Ninth Circuit recently had an opportunity to consider a statute of limitations argument concerning fraudulent transfer actions based on actual intent. In deciding whether to consider the issue, the BAP had to determine whether the law raised factual issues or a purely legal issue. Ultimately, the BAP decided that the statute raised factual issues and ...
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  • Avoid Debt this Holiday Season with These Budgeting Tips

    | 12-Nov-2015

    It is already mid-November, and the holidays are nearly here! With Black Friday coming up in just a couple of weeks, many people are getting ready to take advantage of some amazing deals to kick off their holiday shopping. Between buying gifts, decorating your home for the December holidays, and other expenses, all of these expenses can quickly add up. If an individual does not carefully plan and ...
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  • 4 Things You Should Know About Credit Card Debt

    | 6-Nov-2015

    For many people, to word “credit card” is often synonymous with “debt.” Contrary to what most people believe about credit, however, credit cards and debt do not have to go hand in hand. In fact, millions of credit customers use their cards regularly and never pay a penny in interest or other fees. You, too, can use credit cards to your advantage. Consider the following tips ...
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  • How Is My Credit Score Calculated?

    | 28-Oct-2015

    Most people have heard of credit scores and realize how they can effect a person’s life. But, many people do not understand how a credit score is actually calculated. To help, we have broken down what makes up a person’s credit score. 1. 30% of Your Score= Amounts Owed This takes into account how much money you owe and is based on the percentage of your used credit in relation to your ...
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  • Ocwen Financial Apologizes for Thousands of Backdated Letters

    | 27-Oct-2015

    Mortgage-servicing company Ocwen Financial Corp. is currently investigating an error that led to potentially hundreds of thousands of backdated letters being sent to borrowers. This investigation is in response to a probe by New York’s superintendent of financial services, who claims that the company ignored the “pervasive” problem for months after a whistleblower initially ...
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