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Tuition Free New York City Colleges

Hillary Clinton and Governor Andrew Cuomo signed into effect a law that provides free tuition to public colleges and universities in New York State. The requirements and stipulations makes me question whether “free” college tuition has seen achieved or if it remains out of reach. Any progress towards this goal is appreciated, but upon reading…

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Student loan dischargeable debt

A simple internet search can discourage anyone from trying to file their student loan debt as dischargeable bankruptcy, but it is in fact a debt that can be resolved through bankruptcy law. Michelle Labayen has successfully discharged or reduced student loan debt for numerous clients. The debtor must prove that repaying their loans places an…

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President Trump and Student Loan Debt

As a hopeful optimist, I looked at President-elect Donald Trump’s proposal for student loan debt. His plan is to increase the rate of repayment from 10% as in Revised Pay As You Earn (REPAYE) to 12.5% so the student can be out of debt in fifteen years opposed to twenty. Several websites and students worry…

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President Trump on Mortgages

BIG tax cuts! That is the anthem of Trump’s mortgage plan for affordable housing. His appointed Secretary of Treasury Steven Mnuchin announced a cap on mortgage interest deductions that will overall benefit the wealthy more than the intended middle class. Ironically, this plan will cost the United States $96 million, paid for by foregone taxes.…

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Supreme Court and Bankruptcy News

The Supreme Court faces a decision that could change Chapter 11 bankruptcy indefinitely.  In 2006, the Jevic Transportation Company was buyed out for $77.4 million by the private equity firm Sun Capital Partners.  Two years later, Jevic had to file for Chapter 11 bankruptcy because of too much debt. The bankruptcy put 1,785 drivers and…

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Big Update – State Of NY Denies The Right To Foreclose

On April 28, 2016 Judge Lizabeth Gonzalez of the State of New York, denied Wells Fargo the right to foreclose against home owner Wakelyn Phillips. The denial basically means that the bank cannot demand payments from the homeowners for the mortgage. The judge made this decision based on a simple and basic premise that to…

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Obama Student Loan Forgiveness Program

In this season of giving, students should extend a thank you to government student loan forgiveness programs such as the Obama Student Loan Forgiveness Program. Originally called the William D. Ford Direct Loan Program, it has since been nicknamed due to Obama’s changes. Some of the changes Obama has made include total debt forgiveness for…

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Could Selen Financial and Bayview Services become your new Landlord?

Senator Warren spoke the Senate on Wednesday September 30, 2015 to detail how HUD, Fannie Mae and Freddie Mac are in collusion with Hedge funds. She argued that it should be no real surprise that with government support; single family homes are packaged and sold to wall street. (Source: for-housing-market-9eec5fa0, nearly-half- homes/,,…

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College For All Act

Senator and presidential candidate Bernie Sanders aims to make an overall more educated workforce in America with his College for All Act. Without his plan, Sanders believes America will only continue to fall further behind the world economy. Sanders’ solution to the U.S. falling behind is by making all public colleges and universities free of…

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50 Cent and Bankruptcy

Award winning American rapper, singer, entrepreneur, investor and actor Curtis James Jackson III A.K.A. 50 Cent filed for chapter 11 bankruptcy. 50 Cent noted that he filed for bankruptcy as a means of reorganizing his finances.      Chapter 11 is a  repayment and restructuring of debt. If a person meets the income requirement to file for chapter…

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Difference Between Federal and Private Student Loans

The idea that “student loans are just student loans” is the very idea that gets students into lasting debt. There are major differences between federal and private loans that include leniency to debt repayment, loan forgiveness, interest rates, and consequences for default on payments. Federal student loans can be better for students because it does…

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Department of Education vs. Obama

Obama has become the poster boy for the Democratic Party, accomplishing universal health care, legalizing gay marriage, recovering a nation in an economic crisis, and solving countless other problems during his presidency.  One of the last issues he hopes to improve before leaving office is student loan reform.  He has gone after corrupt career training…

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Recording Debt Collector Phone Calls

Debt collectors may violate the FDCPA by either harassing or threatening creditors. Before contacting an attorney to help, steps to take to defend against violations and build a case against the abusive debt collector are: first, record the phone calls. The safest and most advantageous way to record the collector’s phone calls is by making note…

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The Fair Debt Collection Practices Act

           The Fair Debt Collection Practices Act (FDCPA) is a code of conduct for debt collectors. The FDCPA protects consumers in debt from harassment by debt collectors but debt collectors still violate people’s rights and still harass their targets. People need to know their rights against debt collection to feel their…

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National Collegiate Student Loan Trust

Private student loans, nonfederal loans made by a lender such as a bank, credit union, state agency, or a school, go through the National Collegiate Student Loan Trust (NCSLT) to become investment vehicles. The way the process works is: first a student takes out a private loan from a well-known bank such as Chase or American Express,…

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Latest from Blog

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DOE no longer giving full discharge for defrauded cases

The U.S. Department of Education is passing an act that will make it harder for students to sue for-profit colleges...
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Four States Suing Navient, Government Agency In Bed With DOE

California is the fourth state to file a lawsuit against one of the government’s largest debt collecting agencies: Navient. California...

Department of Education Not Allowing Loan Forgiveness

Four senators are taking a stand against Betsy DeVos and the dysfunctional Department of Education when it comes to student...