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Recent Posts in Debt Category

  • 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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  • 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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  • 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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  • 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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