www.archive-org-2013.com » ORG » N » NACBA

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".

    Archived pages: 111 . Archive date: 2013-11.

  • Title: Search | News
    Descriptive info: News Home.. Current Articles.. Archives.. Search Articles.. Online Resources.. Attorney Finder.. Consumer Tips.. Amicus Assistance.. Links and Articles..

    Original link path: /News/tabid/89/articleType/Search/Default.aspx
    Open archive

  • Title: News > Bankruptcy News
    Descriptive info: Bankruptcy News.. 07.. CFPB widens its debt settlement crackdown $1.. 4 million penalty on middleman sends a warning to others By Fred Williams Consumer financial regulator.. [Read the rest of this article.. ].. Posted in:.. Actions:.. E-mail.. Permalink.. 24.. Why can huge municipalities resort to Chapter 9 protection, but not 37 million Americans drowning in student loans? BY TIM DONOVAN Last Thursday.. 10.. Student loan debt remains at the forefront for many parents, an issue raised with Nick Pistor s story on Freeman Bosley Sr.. seeking donations fo.. 30.. With apologies to Dr.. Seuss, I d like to add some lines to his wonderful book Oh, the Places You ll Go!, which is a popular.. 29.. Student lenders have collection powers denied most  ...   Loan Bubble Is Much Worse Than It Looks.. Why The Student Loan Bubble Is Much Worse Than It Looks America is increasingly aware that the student loan bubble is a major problem for million.. Student Loans: Debt for Life.. Student Loans: Debt for Life This much we know: College pays.. You can lose your house to foreclosure, but never your education.. Four-year college.. 05.. Student loan debt is worse than it seems.. Student loan debt is worse than it seems By Lynn O'Shaughnessy (MoneyWatch) The student loan crisis continues to worsen, according to the late.. 01.. Mortgage Registry Muddles Foreclosures.. Mortgage Registry Muddles Foreclosures By GRETCHEN MORGENSON MORE good news from the housing front last week.. Pending home sales rose 2.. 4 percen..

    Original link path: /News/tabid/89/articleType/CategoryView/categoryId/2/Bankruptcy-News.aspx
    Open archive

  • Title: Debtors 1 - Creditors 0 > NACBA
    Descriptive info: 22.. Debtors 1 - Creditors 0.. Posted on August 22, 2013 12:19.. Debtors 1 Creditors 0.. With persistence and determination, Ohio NACBA members were successful in persuading the republican controlled, Ohio legislature to raise the homestead exemption by over $100,000,00.. Since then, trustees in Ohio have battled against the debtor s use of the new exemption.. The case of In re Depascale, No.. 13-40768 (Bankr.. N.. D.. Ohio Aug.. 8, 2013), was one such battle.. There, the court addressed the issue of whether Substitute House Bill No.. 479 (HB 479) (eff.. March 27, 2013), which raised Ohio s homestead exemption from approximately $23,000.. 00 to $132,900.. 00, applies to a debtor whose bankruptcy petition was filed after the amendment took effect but whose debt was incurred prior to the effective date.. The issue came before the court on the debtor s motion to avoid two judicial liens pursuant to section 522(f)(1)(A) on the basis that they impaired his homestead exemption.. One of the lienholders, Landmark, objected to the avoidance arguing that the debtor was entitled only to a $23,000.. 00 homestead exemption because that was the statutory exemption amount in effect under Ohio Revised Code 2329.. 66 at the time it filed its lien.. Under this earlier exemption amount, the lien would be only partially avoidable.. The issue turned on whether the lien impaired the debtor s exemption under section 522(f)(1)(A) and, therefore, required a finding  ...   of 522 provide that the petition date establishes whether a debtor is entitled to an exemption[.. ] ); In re Lude, 291 B.. 109, 110 (Bankr.. S.. Ohio 2003).. Pursuant to well-established rules of statutory construction, the Ohio legislature, operating against this historic treatment of exemption amendments, may be presumed to have intended the same treatment.. This finding harmonizes both federal and state law in that section 522 explicitly provides that property exemptions for opt-out states are determined by the state law applicable on the date of the filing of the petition, 11 U.. S.. C.. 522(b)(3)(A), and O.. 66(D)(1) likewise states that a debtor s interest in property is determined as of the date a petition is filed with the bankruptcy court.. The court was not persuaded by the creditor s reference to legislative language accompanying HB 479 that: The amendments made by this act to sections 2329.. 66 and 2329.. 661 of the Revised Code shall apply to claims accruing on or after the effective date of this act.. This act is not intended to impair any secured or unsecured creditors claims that accrue prior to the effective date of this act.. The court found this language was contradicted by the express language of the Ohio exemption statute, and was, in any case, internally nonsensical and unworkable.. Please work with you State Chair if you d like to pursue homestead exemption increases in your state..

    Original link path: /News/tabid/89/ID/630/Debtors-1--Creditors-0.aspx
    Open archive
  •  

  • Title: Student loan debt should be treated like Detroit’s > NACBA
    Descriptive info: Posted on July 24, 2013 13:02.. Why can huge municipalities resort to Chapter 9 protection, but not 37 million Americans drowning in student loans?.. BY TIM DONOVAN.. Last Thursday, Detroit gained the dubious distinction of becoming the largest municipality in American history to declare bankruptcy.. In the days since, various partisan sources have weighed in on the story of a bankrupt major American city.. Over at Slate, Matt Yglesias argues that municipal bankruptcy should be easier and more common, to provide cities and townships with the tools required to shed the odious burden of crippling debt often caused by long-departed, ineffectual politicians:.. [.. ]a city is more like a company in the sense that the managers who created the problems are usually gone by the time the reckoning comes.. And even the best managers can t turn a city around unless they can direct a much larger share of the city s revenue to current services rather than paying off old debts.. While this may be true, it highlights the absurdity of our current student debt crisis: practically all forms of debt (including gambling debt and credit card debt) can be forgiven through bankruptcy but not student loans.. While deeply dysfunctional multinational corporations can declare bankruptcy at the drop of a hat, and even municipalities as large as Detroit can resort to Chapter 9 protection as a last resort to avoid their creditors, regular Americans with student debt are afforded no such luxury.. Before the frantic Reagan revolution, filled to the brim as it was with (mostly bipartisan) deregulation, bankruptcy was still possible for discharging student loans.. As the supply-side fever of Reagan s presidency swept through America into the 90s and the Clinton presidency, the deeply corrupted free market principles of deregulation and numerous blatantly pro-banking laws had washed ashore the massive (and fast-expanding) student loan system, with predictably disastrous consequences.. First, in 1976, Congress instituted a fairly reasonable reform to bankruptcy laws: To prevent unscrupulous students from amassing a number of expensive post-graduate degrees (only to immediately declare bankruptcy and simply wait out the seven years without credit), a five-year delay on bankruptcy protection was implemented for student loan debt.. In 1990, that waiting period was extended to seven years.. Hypothetically, by forcing students to delay dischargement, they would be given the necessary time to build equity, earn a good credit score, and acquire some wealth, which would in turn provide a key disincentive to the moral hazard that immediate bankruptcy might present to younger, less stable graduates.. And yet, for the banks, this wasn t enough: In 1998, the law was changed again, this time ensuring that federally backed student loans would be made completely and permanently nondischargeable through bankruptcy.. But for the banks, even this wasn t enough: In this system, private loans could still be discharged albeit after a seven-year waiting period and the self-inflicted destruction of one s credit and assets.. Still, the banks continued the push to deregulate: In 2005, the law was changed a final time, shielding private student debt from bankruptcy just like their federally backed kin.. Now, eight years after the law has passed, student loan collectors are some of the most predatory in the industry, and will take your car and your house, garnish your wages, and even go after your parents or other co-signers if you try to avoid repayment.. If you re fortunate enough to grow old in a world that offers the elderly Social Security while subsequently unfortunate enough to carry student loan debt all the way into retirement, predatory collection agencies can even garnish your Social Security check.. Bankruptcy law underwent a number of quick transformations, each systematically undermining the rights of students a little more than the last.. These developments would also conspire intentionally or not to contribute to the rising costs of college, our ballooning debt levels, and the staggering default rate.. That they re enormously popular among the banks and public-private corporations profiting off these loans nondischargeability should surprise exactly no one.. In the shadow of these onerous, misguided policy decisions, we find ourselves facing a student loan burden so enormous that its present value has actually eclipsed our national credit card debt.. Incredibly, the fundamental problem is quite simple: Our current system offers no incentives for loan originators to deny risky borrowers; consequently, student loans are much too easy to obtain.. Huge amounts of cash are offered to students without regard to the school they might attend or the major they might choose.. Colleges and universities happily raise prices  ...   from offering enormous debt packages to students unlikely to find work that will allow them the ability to repay:.. Lending institutions largely ignore the difference in default risk between majors since the federal government guarantees the loans.. Students and parents can likewise ignore the returns on different degrees and college more broadly, because culturally many see college as a moral good.. Offering desperate, impoverished students bankruptcy might seem like a cynical solution, a form of victim-blaming that largely punishes the naive children who took out bad loans.. But the consequences would be enormously helpful to society as a whole and shouldn t be blithely overlooked.. Banks love student loans because they aren t dischargeable and are consequently extremely stable; in the post-Recession world, safe investment vehicles are relatively uncommon; with interest rates at historic lows and credit for all but the most desirable borrowers still hard to obtain, securitized student loans have become an extremely attractive financial product.. The risk of bankruptcy would change this whole calculus: investors would suddenly need to be wary of lending out enormous loans to students highly unlikely to repay.. With students unable to take on enormous debt for degrees of questionable value from overpriced schools, they ll be forced to look to other options.. A number of excessively expensive schools would probably be forced to shutter (one estimate suggests half of all universities could close by 2030), but this might be more of a feature than a bug, as fewer students are exploited by college administrators armed with dubious statistics purporting to defend the long-term value of college.. If bankruptcy laws were reformed, there would surely be unintended casualties, as some students would find themselves without easy access to adequate loans or local universities.. But the social benefits would far outweigh the challenges faced by a small minority of disenfranchised students, particularly when costs start to drop across the board and tuition growth finally slows to the pace of inflation.. Some students may be forced to reconsider their majors, find cheaper schools, or survive solely on private scholarships, Pell grants and paychecks, but the consequences of these sacrifices should end up best serving those same desperate young adults, otherwise coerced into taking deep debt from institutions that routinely obfuscate the value of the degrees they offer, and provide little help to students hoping to find relevant work after they ve matriculated.. Reforming bankruptcy will not solve the student debt crisis, but it will provide a crucial first step by decoupling our politicians and our educators from the deeply seductive cash flow these predatory loans provide.. Student debt (and particularly student debt default) provides an enormous revenue stream to colleges, banks and the federal government by robbing naive young Americans hoping to improve their economic position.. Congress needs to party (legislatively) like it s 1997, and allow all student loans to be discharged through the same (onerous and punitive) bankruptcy process that other debtors enjoy.. In a recent article here on Salon, David Dayen lets Senator Elizabeth Warren explain the problem with our current priorities succinctly:.. Why should students who are trying to finance an education be treated more harshly than someone who racked up tens of thousands of dollars gambling?.. So, will the law be changed? Unfortunately, recent efforts have proven both unsuccessful and underwhelming.. In January, Senator Dick Durbin introduced the Fairness for Struggling Students Act, which would make private student loans dischargeable just like any other form of private debt.. While clearly insufficient (private loans only account for about 15% of total student debt), this would have at least helped: in the eight years since private loans were shielded from bankruptcy, delinquency rates have doubled.. Unsurprisingly, Senator Durbin s bill has floundered in the Senate, a major red flag even if this piece of legislation enjoyed broad support.. (It doesn t.. ) When considering the enormously powerful Wall Street banks which combined to spend over $100 million lobbying Congress in just the first eight months of 2011 this paints a portrait of a bill destined to die a quiet legislative death.. You want to fix our loan crisis? Provide struggling former students with the same protections afforded to Detroit: the promise that when all else fails, we ll be thrown the vital life-preserver of bankruptcy, a last-ditch salvation from the turbulent waters of crushing, overwhelming debt.. Until these wildly misplaced priorities are corrected, our mounting student debt crisis will only worsen.. Tim Donovan is a freelance author who blogs about Millennial issues at The Suffolk Resolves.. Follow him @tadonovan.. [Read More..

    Original link path: /News/tabid/89/ID/629/Student-loan-debt-should-be-treated-like-Detroits.aspx
    Open archive

  • Title: Registration Open: Preserving the Attorney-Client and Work Product Privileges > NACBA
    Descriptive info: 09.. Registration Open: Preserving the Attorney-Client and Work Product Privileges.. Posted on July 09, 2013 09:30.. Registration is now open for NACBA's next webinar,.. click here to get registered.. !.. Preserving the Attorney-Client and Work Product Privileges in Consumer Bankruptcy Cases.. Thursday, July 25, 2013 3:00 p.. m.. Eastern.. The privileges for attorney-client communications and attorney work product are often key to a successful, effective attorney-client relationship.. This webinar will review the basics of these privileges and cover important practice considerations, including the scope of these privileges (such as when the attorney has a client fill out a questionnaire or when the attorney or client makes notes on a schedule), the evidentiary requirements to establish each privilege, unintentional and intentional waiver of these privileges, and the effect of the bankruptcy context, with its duty of disclosure.. The webinar will emphasize practical steps to protect these privileges in consumer bankruptcy cases.. Featured Presenters:.. Johnie Patterson, Esq.. Walker Patterson, P.. Houston, TX.. Nancy Rapoport.. Gordon Silver Professor of Law.. William S.. Boyd School of Law, UNLV.. About our Sponsor:.. MyCase.. is a web-based law practice management software solution for solo and small firms..  ...   entitled to a $25 discount (equal to the Member price for the webinar) that they may apply towards the purchase of.. one webinar in 2013.. (Log in to receive Member pricing.. Reminder, your username is:.. zachmanifold@gmail.. ).. When you are ready to redeem your 2013 webinar discount.. (whether for this webinar or another offered in 2013).. , enter the Discount Code WEBINAR-2013.. in the Discount Code box in the Shopping Cart during checkout.. If you have already used this Discount Code in 2013, you will not be eligible to apply it to this upcoming webinar.. Live Webinar Deadline:.. Customers who purchase this Webinar prior to midnight (Eastern) on Wednesday, July 24, 2013, will be automatically registered for the live webinar.. Purchasers after this time will have access to the recording of the live webinar.. GET REGISTERED NOW!.. Once you have purchased this Webinar, you will receive further instructions (by email) on how to access the proceedings and materials.. All customers who purchase this Webinar will have access to the recording of the live webinar once it has been posted on.. NACBA.. org.. Sincerely,.. Jean Braucher.. Chair, NACBA Webinar Committee.. Member News..

    Original link path: /News/tabid/89/ID/628/Registration-Open-Preserving-the-Attorney-Client-and-Work-Product-Privileges.aspx
    Open archive

  • Title: News > Member News
    Descriptive info: Member News.. Registration is now open for NACBA's next webinar, Preserving the Attorney-Client and Work Product Privileges in Consumer Bankruptcy Cases.. San Diego Convention Materials Available for Purchase!.. Materials for NACBA s 21st Annual Convention, held in April 2013 in San Diego, are now available for purchase by NACBA Members.. Amelia Island Workshop Materials Available for Purchase.. Materials for NACBA s 2012 Members-Only Workshop, held in late October 2012 on Amelia Island, are now available for purchase by NACBA Members  ...   from NACBA's two free pilot program webinars; National Mortgage Settlement and Representing the Student Loan Debtor.. San Antonio Convention Materials Available for Purchase.. Materials from our 20.. th.. Annual Convention, held April 26-29, 2012 in San Antonio, TX, are now available for purchase.. "Bankruptcies of the Rich & Famous" once again available for purchase.. Over the years, many members have made available to clients a copy of the book They Went Broke, which detailed the stories of famous Americans who had..

    Original link path: /News/tabid/89/articleType/CategoryView/categoryId/5/Member-News.aspx
    Open archive

  • Title: San Diego Convention Materials Available for Purchase! > NACBA
    Descriptive info: Posted on July 09, 2013 09:16.. I am reaching out to both current and former NACBA members to remind you that even though you may not have been able to join us at this year s Annual Convention in San Diego, you can still purchase the education materials.. The Convention was a resounding success.. Beginning with the exhaustive and hilarious case review by Hank Hildebrand and Judge Keith Lundin and continuing with panels on topics ranging from Student Loan Solutions to Trial Preparation for Stay and Discharge Violations to tricks in the UCC for defeating car creditors (and getting them to pay you) and many, many more.. The seminar was full so full of invaluable information that even if you were there, you could not absorb it all.. So while we cannot recreate the beautiful Sun and Sea of Southern California, this year - for the first time ever - we are offering as a  ...   that you will Save the Date for NACBA s upcoming educational programs:.. 2013: Members-Only Workshop: October 25-26, 2013: New Orleans, LA.. 2014: 22nd Annual Convention: April 11-13, 2014: New York, NY.. 2015: 23rd Annual Convention: April 23-26, 2015: Chicago, IL.. 2016: 24th Annual Convention: May 19 - 22, 2016: San Francisco, CA.. With warm regards,.. Edward Boltz, President.. 21st Annual Convention Materials:.. See the schedule and session names HERE.. See a list of faculty by session HERE.. COMPLETE SET OF MATERIALS $495 + S/H.. Available for purchase by clicking HERE.. INCLUDES:.. Printed Volumes 1 and 2 (including Overview Materials and Paralegal/Newbie Track materials).. Supplemental volume, Recent Developments in Chapter 13, by the Hon.. Keith M.. Lundin, the Hon.. William H.. Brown, and Henry Hildebrand.. Electronic access to over 2,220 pages of materials, both via a materials website and Google Play and Apple Store apps.. A complete set of mp3s with audio recordings.. Individual Audio Recordings..

    Original link path: /News/tabid/89/ID/627/San-Diego-Convention-Materials-Available-for-Purchase.aspx
    Open archive

  • Title: Student loan relief > NACBA
    Descriptive info: Posted on June 10, 2013 13:20.. seeking donations for his daughter's college education.. Our nation s staggering student loan debt has a crippling effect on generations of borrowers ability to purchase a home or car, open a business, start a family, or save for their future.. Congress is considering various proposals to address this ticking student loan debt bomb, including preventing interest rates on federally subsidized student loans from doubling on July 1, converting private student loans to federal loans, or expanding loan forgiveness, income-based repayment, and other policies.. One fundamental solution that would provide immediate relief to borrowers is to restore bankruptcy relief for high-cost  ...   not eligible.. Private student loans are market-generated unsecured debts that do not deserve the protection from discharge given to low-cost federal loans, which come with many relief programs and other safeguards when borrowers are in financial distress.. Sen.. Richard Durbin of Illinois and U.. Rep.. Steve Cohen of Tennessee have introduced legislation (S.. 114/H.. 532) to make private student loans dischargeable in bankruptcy, as they were until 2005.. Americans drowning in private student loan debt need Illinois and Missouri s legislators to co-sponsor this legislation and push for its passage.. Doing so would allow desperate borrowers of all ages a true fresh start.. Andy Miofsky Granite City..

    Original link path: /News/tabid/89/ID/626/Student-loan-relief.aspx
    Open archive

  • Title: Oh, the places you’ll go, graduate, but know what you owe! > NACBA
    Descriptive info: Posted on May 30, 2013 07:30.. Seuss, I d like to add some lines to his wonderful book Oh, the Places You ll Go!, which is a popular graduation gift for college students.. Seuss begins:.. You have feet in your shoes.. You can steer yourself any direction you choose.. You re on your own.. And you know what you know.. But you d better know what you owe because your debt is high.. Oh, the places you ll go once your student loans go bye-bye.. The last two lines are mine.. There are more than 38 million student-loan borrowers with more than $1.. 1 trillion in outstanding debt, according to the Consumer Financial Protection Bureau and the Department of Education.. A recent study by Fidelity Investments found that 70 percent of the class of 2013 is graduating with debt averaging $35,200, which includes federal, state and private loans, as well as debt owed to family and accumulated through credit cards.. Many graduates can t go any direction they choose.. They have to take any job they can get.. They have to move back home.. They can t buy a house or a car.. They don t want to get married and merge with someone equally indebted with student loans.. Consider the following:.. Between 2007 and 2010, the average student-loan balance for households increased almost 15 percent, even as Americans reduced other types of consumer debts, according to the CFPB.. FinAid.. org created a student-loan debt clock to show outstanding federal and private student loans.. It reached the $1 trillion mark on May 8, 2012.. If you include capitalized interest, total federal and private student-loan debt probably hit the $1 trillion milestone in late 2011, according to FinAid.. Total student-loan debt outstanding surpassed credit card debt for the first time in June 2010.. A recent TransUnion study found that more than half of student-loan accounts are in deferred status, where the repayment of the principal and interest is temporarily delayed.. Deferred  ...   along with the rising cost of tuition, student lending has demonstrated consistent, year-over-year growth, said Amy Crews Cutts, Equifax s chief economist.. A year ago, the National Association of Consumer Bankruptcy Attorneys warned that the student-loan debt bomb would be America s next mortgage-style economic crisis.. There are congressional efforts to address the mounting student-loan debt.. However, much of the bickering centers on the coming interest rate hike for federal loans.. The rate is set to increase on July 1 from 3.. 4 percent to 6.. 8 percent.. The Republican-led House passed a bill that would tie the rates for subsidized and unsubsidized Stafford loans to the 10-year Treasury note plus 2.. 5 percentage points.. The bill faces opposition in the Democratic-controlled Senate and a veto threat from the Obama administration.. Whatever the rate, we need a long-term solution to the amount of debt families are taking on.. In the Fidelity survey, half of 2013 graduates with student loans said their level of debt surprised them.. They hadn t realized how much they had borrowed.. Thirty-nine percent said that if they had been aware of how much they would owe, they would have made different choices in their college planning.. So I say to the high school graduates heading off to college and planning to go down the street of student loans, listen also to these words from Dr.. Seuss: You ll look up and down streets.. Look em over with care.. About some you will say, I don t choose to go there.. With your head full of brains and your shoes full of feet, you re too smart to go down any not-so-good street.. Readers may write to Michelle Singletary at The Washington Post, 1150 15th St.. NW, Washington, D.. 20071 or singletarym@washpost.. Personal responses may not be possible, and comments or questions may be used in a future column, with the writer s name, unless otherwise requested.. To read previous Color of Money columns, go to postbusiness..

    Original link path: /News/tabid/89/ID/625/Oh-the-places-youll-go-graduate-but-know-what-you-owe.aspx
    Open archive

  • Title: Student Loans -- Do Criminals Have More Rights? > NACBA
    Descriptive info: Posted on May 29, 2013 13:20.. A federal student loan collector can garnish your wages just by sending a notice in the mail to your employer.. Credit card companies can't sue you after the statute of limitation has expired.. Even IRS debt has a ten year time limit on collection and can often be discharged in bankruptcy.. Student loans used to have a five year statute of limitation, then seven years, before Congress eliminated it altogether.. Common criminals like burglars and arsonists are protected from prosecution by a statute of limitations.. Murderers, kidnappers, federal student loan borrowers and the like -- you know, society's worst offenders -- have no statute of limitation.. They can be taken to court until the day they die.. With all of the special protections afforded federal loans under the law, it's not surprising a study by the National Consumer Law Center ("NCLC") found the Department of Education ("ED") to be abysmal at resolving consumer complaints.. NCLC found the culprit to be ED's penchant for abdicating its responsibility for student loans to private debt collectors.. The Department of Education awarded almost $1 billion in commissions in 2011.. Collectors insisted on stiff payments, ignoring rules that made borrowers eligible for leniency.. One collector working for Educational Credit Management Corporation received $454,000 in commissions in one year.. This is more than double the yearly salary of the commissioner of the Department of Education.. The CEO of Sallie Mae, a private student loan collector, has found the student loan business so profitable he owns his own golf course.. Unencumbered by the fiduciary duties expected of a government agency towards its citizens, private debt collectors are free to ignore complaints as costly distractions.. Indeed, a Department of Education audit found exactly that.. ED found collectors ignored verbal complaints, never passing them on to the Department of Education for appropriate action.. This level of disorganization has left borrowers dazed and confused.. AshleyJane Kneeland knows this better than most.. The onslaught of illnesses she's endured in the past few years is mind-boggling.. As an independent, high achiever, she graduated from high school early to attend George Washington University only to be diagnosed with rheumatoid arthritis in her senior year at the tender age of 21.. Her pain medication caused internal bleeding which resulted in anemia, leading to several hospitalizations.. When she did not improve, doctors upped their diagnosis to an undifferentiated connective tissue disease.. Undaunted, AshleyJane did not give up.. After receiving a Masters from the University of New Hampshire, she found full-time employment as an Activities Director of an elder care facility.. Working became a challenge.. Her doctors realized she had lupus.. This is an incurable disease that can cause kidney failure, a possibility her doctors have already warned her about.. Fatigue was a constant companion, and stress caused her symptoms to worsen.. The more stress she endured, the faster her condition deteriorated, a vexing problem for someone used to pushing herself to perform well under pressure.. To add insult to injury, she contracted shingles, a painful disease, suffered through 16 open skin ulcers, and continues to endure muscle spasms.. Working full-time became impossible.. Even a part-time job at the Concord Boys Girls Club proved to be too much.. With the help of family she managed to make her student loan payments.. She had to move back home to live with her parents to do it but honoring her debts was important to her.. This wasn't the life an independent young woman envisioned for herself when she went off to college to pursue her dreams.. She would give anything to have that life back.. As lupus forced on her an increasing dependency, she applied for Social Security Disability Income ("SSDI").. The Social Security Administration did not hesitate in finding her permanently and totally disabled.. She receives $832 per month.. She managed to survive only through the help of family.. As her parents near retirement and entering an over-55 housing project, AshleyJane  ...   to have another one open.. Or to use another analogy, the light at the end of the chapter 13 tunnel has become an approaching freight train.. The 'fresh start' guaranteed by the U.. Bankruptcy Codes can become an empty promise for student loan borrowers.. With the more than one trillion in student loan debt now exceeding the amount of credit card debt, this isn't a problem that's just going to go away.. Student loan debt is being bundled together and sold to investors, much like mortgage backed securities, the same investment model which contributed to the economic collapse in 2008.. The student loan debt crisis has become a drag on the economy.. There has been some discussion in Congress about changing the Bankruptcy Code to give more relief to borrowers in financial distress.. Congress of course is not known for taking preemptive action against the interests of big business.. There are no heroes or headlines in averting a disaster.. The student lending industry has little incentive to be proactive, knowing a bailout saved them from ill-advised business decisions the last time around.. With the special protections bestowed on them by Congress, student loan collection can be a merciless process.. There's no bailout for the 'little guy.. '.. TIPS FOR STUDENT LOAN BORROWERS.. (1) Exhaust federal loan options before considering any private student loan.. You have far more rights.. If you can't afford your payment, federal loans are eligible for payment plans like Income Based Repayment ("IBR") that may lower your payment.. Educate yourself on the options available to you before you get too far behind.. Once you go into default, you no longer qualify for IBR and other programs.. It is common for 15% to 25% to be added to your loans as a collection cost.. You may want to consider working with a student loan lawyer to help get out of default before a wage garnishment, tax intercept, or lawsuit occurs.. (2) The first thing a student loan lawyer will ask you is what type of student loan debt you have -- federal, private, or state.. Just knowing your loans are with Sallie Mae won't answer this question.. Sallie Mae services both federal and private loans.. Start by checking the National Student Loan Data System.. This will list the type of loan, loan balance, and servicer for each loan.. If you don't see your loans there, you most likely have private or state loans.. Checking your credit report may help nail down this answer.. Asking your student loan servicer is another possibility since it's illegal for them to provide you with false information.. (3) There are no mandated payment programs available for private student loans.. Like a credit card, once you default, a private student lender can accelerate the entire loan balance, and sue you in court.. Your inability to repay this amount won't stop the collection process.. One of the few advantages of private student loans is that they are subject to a statute of limitation.. Once the statute has run, further collection becomes illegal.. Answering this question can be complicated.. Judgments are good in most states for 20 years.. Having a copy of the promissory note and your payment history will help a lawyer to assess your situation.. Collecting on student loan debt beyond the statute of limitation may be a violation of the Federal Fair Debt Collection Practices Act or your state's fair debt collection law.. The above is not intended as legal advice for your particular situation.. Questions should be addressed to student loan attorneys admitted to practice within your state.. Richard Gaudreau is a lawyer admitted to practice in New Hampshire (NH) and Massachusetts (Ma) with a specialty in bankruptcy and student loans.. He has litigated student loan issues in the U.. Bankruptcy Court, First Circuit Bankruptcy Appellate Panel, and Federal First Circuit Court of Appeals.. He may be reached through his website at attorneygaudreau.. com, by email at Richard@attorneygaudreau.. com, or by calling 603-893-4300..

    Original link path: /News/tabid/89/ID/624/Student-Loans--Do-Criminals-Have-More-Rights.aspx
    Open archive

  • Title: News > NACBA News
    Descriptive info: NACBA News.. NACBA Launches 2013 Webinar Program After two highly successful pilot webinars this past fall, NACBA s Board of Directors has decided to procee.. 14.. NACBA: COSTLY DEBT SETTLEMENT SCHEMES PREY ON THE MOST DEBT-BURDENED CONSUMERS STRUGGLING TO RECOVER FROM ECONOMIC DOWNTURN What a.. Mark your calendar for September 27 and October 18! NACBA is testing the waters to see if members are interested in webinars.. We ve pla.. 26.. A number of NACBA members practicing in the Riverside jurisdiction of Central California have encountered summary dismissals of their clients cases ba..

    Original link path: /News/tabid/89/articleType/CategoryView/categoryId/1/NACBA-News.aspx
    Open archive



  •  


    Archived pages: 111