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Recent Posts in Debt Settlement Category

  • 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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  • 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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  • 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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  • Student Loan Forgiveness to Help Eligible Borrowers by 2017

    || 26-Aug-2015

    Student loans, held by as many as 43 million Americans, have the highest rate of default and delinquency rates of all consumer debts. This liability is worth a staggering $1.3 trillion, with the average student loan debt totaling approximately $33,000 per borrower. With borrowers facing growing demands in a tough labor market, many people are finding themselves swallowed by debt. After years of ...
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  • Making the Most of Bankruptcy: Eight Things to Do After Your File

    || 18-Aug-2015

    You just received your bankruptcy discharge; now it is time to start thinking about your future. With a solution to your debt, you may be wondering what to do next. Consider the eight steps listed below to move forward, rebuild your credit, and ensure a solid financial future. Retain copies of your bankruptcy paperwork. While it does not happen often, creditors may still try to collect on a debt ...
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  • Student Loan Debt Crisis Cripples Countless Americans

    || 14-Aug-2015

    Millions of Americans are struggling under mountains of student loan debt, often holding them back from their future prospects. Crippling debt is putting people’s lives on hold, and is having serious effects on the economy. With the continually rising costs of higher education across the nation, many students not only struggle to make ends meet in college, but continue to struggle for years ...
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  • Four Bankruptcy Myths Debunked

    || 7-Aug-2015

    Over one million people file for bankruptcy in the U.S. every year. Bankruptcy can be a good option for many people to help them settle their debts and regain their financial freedom. While there are plenty of good reasons why a person would choose this option, there are many inaccurate myths surrounding bankruptcy that make it seem as though bankruptcy is a sign of financial irresponsibility or ...
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  • Four Reasons Why You Should Hire a Bankruptcy Attorney

    || 29-Jul-2015

    If you are considering filing for bankruptcy, you may be wondering whether it is worth it to hire a bankruptcy attorney or just take your chances handling it on your own. You may be thinking that hearing this kind of an advice from a bankruptcy lawyer is biased, but in order to explain why it is ultimately the best course of action, we have identified four reasons why you should not hesitate to ...
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  • Understanding Chapter 13 Bankruptcy

    || 24-Jul-2015

    Chapter 13 bankruptcy, also referred to as a wage earner’s plan or reorganization bankruptcy, allows people with a regular source of income to create a repayment plan for all or a portion of their debts. Debtors can restructure their debts and make arrangements to pay them back in installments over a three to five year period, depending on the amount of their monthly income. Creditors and ...
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  • How Chapter 7 Bankruptcy Works

    || 17-Jul-2015

    If you are an individual, partnership, or other business entity considering bankruptcy, you can qualify for relief under chapter 7 bankruptcy. Filing for chapter 7 can automatically “stay,” or stop, collection actions against the debtor, including phone calls demanding payment, wage garnishments, and creditor lawsuits, while it is in effect. Below, we have briefly outlined how chapter ...
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  • 5 Credit Card Debt Settlement Myths

    || 2-Jul-2015

    If you’re considering credit card debt settlement, you’ve probably heard competing opinions about it: whether it’s effective, how much of our debt you can avoid paying, if you need a lawyer, etc. These are legitimate concerns, and it’s important to stay informed before pursuing negotiations with creditors. Myth #1 – It’s easy to get your debts cut in half ...
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  • Is Debt Settlement a Better Choice Than Bankruptcy?

    || 17-Jun-2015

    If you feel like you’re drowning in debt, you’ve probably considered bankruptcy. While bankruptcy can eliminate certain debts, isn’t the right solution for everyone. Advantages and Disadvantages of Debt Settlement In short, debt settlement allows consumers to alleviate the burden of debt without taking their case to court. This appeals to many people, especially since the ...
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