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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…
Read MorePresident 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…
Read MoreObama 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…
Read MoreCould 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: http://sierramadre.patch.com/articles/realtors-sale-of-foreclosed-homes-to-spell-doom- for-housing-market-9eec5fa0, http://www.baycitizen.org/housing/story/report-investors-buy- nearly-half- homes/,http://money.cnn.com/2012/02/29/real_estate/Fannie_foreclosure_homes/index.htm, http://www.rollingstone.com/politics/blogs/taibblog/another-hidden-bailouthelping-wall-street-…
Read MoreCollege 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…
Read MoreDifference 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…
Read MoreDepartment 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…
Read MoreThe 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…
Read MoreNational 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,…
Read MoreMichelle Featured In A CNBC Article About Newark
Michelle Labayen has been featured in an article on CNBC discussing Newark. From the article: “Bankruptcy claims have decreased,” said Michelle Labayen, a bankruptcy lawyer operating in Newark, “because a lot of the businesses are not even doing a filing and they are just closing the doors…they are not necessarily aware of their rights.” Labayen…
Read MoreA Note From Michelle
Met with Senator Booker’s Staff Chief Deputy George Helmy to discuss fairness of Struggling Student act and Student loan discharge in bankruptcy. Seems like Booker’s office may not support because looking for “front end” solutions but express concern for the issue of student loan debt. Met with Congressman Bill Pascrell chief deputy of staff with same bills. Seems interested…
Read MoreBig News: When Is A Tuition Debt A Student Loan Or A Contract?
The difference is very important to many of us who have private loans. Most recently, Judge Elisabeth Stong of the Eastern District of New York questioned if the Debtor had a “debt” to repay a college tuition Harris EDNY BK 13-47320 ( which is dischargeable in bankruptcy court) or an educational loan ( which is…
Read MoreDebtor Awarded $25,000 From Mortgagor Creditor Due To The Bank’s Filing Of A Bad Claim
When filing a bankruptcy in Chapter 13, make sure both you and your attorney review the proof of claims by creditors. A proof of claim is used in bankruptcy court to confirm the amount that is owed to a creditor by the debtor. In November 2013,, Greenpoint Credit filed a proof of claim for an…
Read MoreYou Should See This: Elizabeth Warren YouTube Channel!
Visit Elizabeth Warren on YouTube for some really great, informational videos. Click Here
Read MoreWhat You Should Know About Taxes As A Senior Citizen
As a Senior Citizen you have enough to worry about. You are inundated by offers and tips on saving money from the concerned family member to the scam artists online. You have one more worry that you may want to put on your “watch list”. As a Senior you may own your home without a…
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