In 2021, the Department of Education is going to reduce their 11 services down to 5 student loan servicers. According to Business Insider, the DOE outlined a plan to reduce their service in order to “better customer service.” Only 3 servicers of the original 11 will continue in 2021: Edfinancial, MOHELA, and Maximus. The two…

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The HEROES Act, a $3 trillion stimulus package passed in a divided Congress this month, but holding many promises to ease the burden of student loan debt. Granted that this bill passed with a slim margin and facing opposition for the majority of Republicans including some Democrats. The moderate Democrats opposed the bill for overreaching…

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Bankruptcy is an option available to virtually everyone including non-citizens in the U.S. and people with an arrest record or criminal history.  With so many people getting arrested for protesting and incurring bail bonds debt, it would be beneficial to know that bail bonds are dischargeable in federal bankruptcy court near me. However, fines and…

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In the government’s initiative to reduce the financial burden on student loans, it has allowed borrowers to delay any loan payments on certain types of loans, mostly federal, until October under the CARES Act. If the HEROES act were to pass in the Senate, after it already passed Congress, then student loan repayments could be…

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With unemployment on the rise and business shutdown in New Jersey and New York , more people are considering putting their mortgage payments into forbearance. A mortgage payment in forbearance means delaying the payments without penalty fees after giving notice to the creditor. When the unemployment checks run out in July and late August, many…

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During her time as the Secretary of Education, Betsey Devos has plummeted the department into the ground with another lawsuit for garnishing wages from student borrowers during the coronavirus. Devos announced in March that she would take administrative action to prevent this practice, and the Trump CARES act protects borrowers from such measures.  Politico reported…

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President Trump signed a bill providing financial relief for Americans struggling in the wake of the coronavirus shutting down all non-essential businesses. Part of that bill granted a six-month suspension period on federal student loan payments until September 30th. However, not all federal loans are included in the bill and loan providers are not adapting…

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Before Biden and Warren were at odds for the Democratic Presidential nomination, they faced off against bankruptcy protection laws, with Biden successfully stripping them away right before the 2008 housing crisis.  In 2005, Biden pushed through a bill called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) intended to prevent people from abusing a…

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PG&E (Pacific Gas and Energy) is struggling to come up with a plan to avoid filing for bankruptcy in the midst of constant blackouts and wildfires that have ravaged California. As California’s largest utility, the state is threatening to take over due to a lack of an agreement between the company, fire victims and its…

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On Friday, Oct 11, CNN Business reported that Murray Energy owned by Robert Murray, the “king of coal”, is slipping into “financial collapse”, thus marking another coal business plummeting into bankruptcy.  For coal miners and those in the coal industry, this means that the industry will likely become obsolete within the next few years among…

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Betsy DeVos could be facing jail time if not sanctions for violating an order from a federal judge who prohibited any further collection of student loan debt from Corinthian College students.  U.S. Magistrate Sallie Kim ordered the Department of Education to cease collection from these student borrowers since they fell under the protection of the…

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Student loan debt is the largest financial crisis facing young Americans today, and has reached the highest its ever been in all of history. It’s causes can be traced back to several sources, the foremost being 1) increasing tuition rates with little to no increase in wages, and 2) predatory practices by private and federal…

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Congressmen are just like us; they have student loan debt too! For the lawmakers that could provide student loan debt relief, many of them still have enormous amounts of debt themselves that they are required to make payments on.  The media buzzed over Congresswoman Ocasio-Cortez making a student loan payment during a committee meeting over…

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In 2021, the Department of Education is going to reduce their 11 services down to 5 student loan servicers. According...
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