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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The New York Attorney General’s office is trying to block the approval of a bankruptcy plan for the mortgage company Ditech. The New York AG office released a statement that objected to the sale of the company as a part of its bankruptcy deal that would release Ditech from any obligation to pay the $1…

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“Pay Off Your Student Debt in Three Easy Lifetimes” advertises a recent satirical piece by Colin Nissan in The New Yorker’s recent August issue that follows a Q&A interview between an outraged interviewer and a calm expert on this new software program for student loan debt. The conversation winds around this bizarre solution to debt…

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First states and now teachers are suing the Department of Education for the faulty program intended to help student loan borrowers: the public service loan forgiveness program.  Previously last summer, four states including California, Pennsylvania, Washington, and Illinois sued the government agency Navient for its mismanagement of private and federal student loan debt, especially for…

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Several states across America, especially in the southern states like Tennessee, Alabama, and Georgia, are experiencing an increase in bankruptcy filings according to NerdWallet.  Market Watch, The New York Post, and CNBC have all published articles speculating on the rise of bankruptcy filings as a symptom of an impending recession. Market Watch  in their article…

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What would happen to the American college system if Bernie Sander’s plan of “free college” and “eliminate all student loan debt” came to life?  The United States education system is often compared to the system of our European Allies like Germany and Finland who have free education system. Critics asked “If America is so great,…

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The student loan debt crisis has already gripped the attention of courtrooms from bankruptcy court to state and federal court, but finally, it has gained traction among lawmakers on both sides of the aisle. In an unexpected allyship, Sen. Elizabeth Warren D-Mass and Sen. Marco Rubio R-Fla proposed a bill: “Protecting JOBs Act”. This bill…

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A startling new report by Urban Institute, a progressive think-tank in Washington, estimated that in 5 years, 40% of student loan borrowers would be in default. In other numbers, it’s estimated that 44 million americans have student loans, and so 17.6 million students would default.  It’s not just private loans that are unwieldy, but also…

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joe biden

Biden Legislation Stripped Borrowers of Their Bankruptcy Protections

Before Biden and Warren were at odds for the Democratic Presidential nomination, they faced off against bankruptcy protection laws, with...
wildfire

PG&E Struggles to Remain Out of Bankruptcy Amid Victim Claims

PG&E (Pacific Gas and Energy) is struggling to come up with a plan to avoid filing for bankruptcy in the...
coal

Is the Coal Industry Slipping into Obsoletion?

On Friday, Oct 11, CNN Business reported that Murray Energy owned by Robert Murray, the “king of coal”, is slipping...