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Blog Posts in 2015

  • 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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  • How Important is Your Credit Score?

    | 21-Oct-2015

    Have you ever considered how important your credit score can be? Oftentimes, individuals do not consider the impact of a negative or positive credit score. However, it can be the deciding factor in many cases. To help you understand, we have listed three points regarding how your credit score can affect your life. 1. Your Credit Score Can Determine the Cost of Large Future Purchases In many ...
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  • Avoid Holiday Season Debt with These Financial Tips

    | 14-Oct-2015

    Oftentimes, the holiday season brings about the temptation to give to your loved ones. While this can be an enjoyable part of the holidays, it is important that you take the appropriate steps of budgeting to avoid drowning yourself in unpayable debts. To help, we have compiled a list of things you can do to avoid filing for bankruptcy during the holidays. Additionally, we have supplied this list ...
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  • Security-Chipped Credit Cards Replace Magnetic Strip Credit Cards

    | 7-Oct-2015

    Credit card fraud has been one of the most common types of fraud for quite some time. In fact, the Federal Reserve reports that in 2012, there were over 13.7 fraudulent credit card transactions that totaled more than $2.3 billion in charges. Research states that the magnetic strips located on the back of these cards are easy to counterfeit. These strips have become one of the main ways fraudsters ...
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  • A new program aimed at helping Californians with limited means free themselves of driving debt will take effect this week as part of Governor Jerry Brown’s annual budget. Brown has long criticized the current traffic court system, calling it a “hellhole of desperation” for people who are caught in it. The inability to pay a spiraling amount of traffic fines and court fees has ...
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  • How to Start Using the Right Student Loan Repayment Plan

    | 25-Sep-2015

    Graduating college and entering the workforce is exciting, but not always easy – especially if you’re having trouble paying back your student loans. Although student loan forgiveness may eliminate up to $1 billion in debt, Public Loan Student Forgiveness (PLSF) won’t take full effect until 2017. In the meantime, college graduates are still struggling to pay off their outstanding ...
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  • Debt Collection Lawsuits and How They Progress

    | 17-Sep-2015

    Creditors may believe that you will end up defaulting on your debt if you start falling behind on regular payments. In many of these cases, creditors start in a subtle manner. First, they send out reminder notices to inform you of your missed payments. However, if your account remains behind, creditors or debt collection agencies may begin to antagonize you on a daily basis with phone calls, ...
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  • How Automatic Stay Can Help You During Bankruptcy

    | 11-Sep-2015

    Filing for bankruptcy may seem daunting. However, one of the most helpful tools for those filing bankruptcy is automatic stay. This United States bankruptcy law does not allow creditors or debt collectors to take legal action or file lawsuits against debtors. This can be useful for those people at risk for eviction or foreclosure, at risk for losing utilities, welfare, or unemployment benefits. In ...
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