Home > Author Archives: Guest Post

Author Archives: Guest Post

Private Loans For Unaccredited School Not Student Debt in Bankruptcy

law books

By Los Angeles Bankruptcy Attorney Christine Kingston I was just talking with a friend of mine the other day, Damon Day; and he was mentioning that he is seeing more and more folks all across the country, who have attended these unaccredited schools and carrying an enormous amount of student debt. I mentioned to him that I’ve already been in ... Read More »

My Theory of Why My $130K of Federal Student Loans Was Discharged in Bankruptcy

stolen idea

THE DISCHARGE OF $130,000 WAS SETTLED WITHOUT A TRIAL! HERE IS MY THEORY OF WHY! AT A MOTION HEARING, THE DEPT. OF ED. MOVED TO STRIKE MY COMPLAINT. BY COUNTERING THAT MOTION, THE DEPT. OF ED. SAW I WAS NOT GOING TO FOLD! THE JUDGE GAVE THE DEPT. OF ED. JUST THREE DAYS TO ANSWER MY COMPLAINT. WHAT THE DEPT. ... Read More »

Settled Debt May No Longer Be Reported on Credit Reports if Bill Passes

credit_report_errors

Inaccurate and antiquated adverse items on credit reports can be extremely detrimental. They can adversely influence a consumer’s credit score, elevate interest rates and even lead them to incur a lot of money in payments they have to make. Yet most credit reporting system players emphasize that the processes, which handle contentious items in the consumer files of the 3-major ... Read More »

43-Year-Old Mom Wins Partial Discharge of Federal Student Loan Debt

young woman protects little girl from wind in garden

My friend and fellow student loan informationalist, Wm. Richard Fossey, emailed me to share a recent undue hardship victory which I want to discuss this week. The case was decided on May 3rd, 2016, in the U.S. Bankruptcy Court in the District of Idaho. The link to the full context of the decision is here: http://business-finance-restructuring.weil.com/wp-content/uploads/2016/05/McDowell-5-4-2016.pdf The plaintiff, a 43 ... Read More »

FTC Publishes Banned From Debt Relief Listing

Set of red realistic vector Banned grunge rubber stamp isolated on white background.

The companies and people listed below are banned, by federal court orders, from participating in some or all types of the business of debt relief. Generally speaking, debt relief is any program or service that offers to renegotiate or change the terms of a debt between a person and one or more creditors or debt collectors, including a reduction of ... Read More »

FTC Cracks Down on Debt Relief Schemes Targeting Student Loan and Mortgage Borrowers

student-loan-debt-680x430

The Federal Trade Commission and the State of Florida have taken action against two operations charged with running phony student loan debt relief schemes, and defendants in a similar FTC action brought earlier this year have agreed to a ban on participating in any debt relief business, as part of a consumer protection crackdown to combat such frauds. “The FTC ... Read More »

Eary Tests to Prove (Justify) Undue Hardship

get out of debt

SEVERAL TESTS CREATED – YET NOT A SINGLE STANDARD If you are one who is following this blog I want to thank you. I first began blogging nearly a year ago now. My very first attempt at publishing here was on May 19th, 2015. The subject of that first informative posting was about Undue Hardship Tests. The title I used ... Read More »

Federal Student Tax Scam – Beware!

tax_scam_victims

Imposters posing as IRS agents are trying to trick college students into paying a “federal student tax” – a tax that doesn’t even exist.  Students from many colleges are telling the FTC that the calls go something like this: the so-called IRS agent tells you that you owe a “federal student tax,” and often has some piece of information that ... Read More »

Household Debt Surges, Delinquencies Drop

Screen Shot 2016-05-24 at 1.43.56 PM

Household indebtedness continued to advance during the first three months of 2016 according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, which was released today. Repayment trends also generally improved across the board, driven primarily by continuing improvements in mortgage delinquency rates. The report is based on data from the New York Fed’s ... Read More »

Spend Money – Get Shocked

Headache - migraine and stress concept with woman in pain massaging temples for headache cure. Multi-ethnic Caucasian / Asian woman on blackboard background.

Here we are in the middle of 2016, and technology has never been at a greater height, nor has it ever been used in the manner it is being used for. To my mind the greatest use of technology these days is our mobile phones. They are little computers and do everything. Our mobiles make phone calls, you can text ... Read More »

Look How Different It is to Get Out of Debt in Scotland

Eilean-Donan-Castle scotland

Scotland remains very much a part of the United Kingdom, despite the prospect of becoming an independent country having been raised in earnest during the national referendum on the subject back in 2014. But even as part of the UK, Scotland is able to function as its own country in many respects and can often establish quite different ways of ... Read More »

Gunsmoke Gun Shop Owner and Former Discovery Channel Star Indicted and Arrested for Conspiracy, Dealing in Firearms without a License and Tax Related Charges

get out of debt

Richard Wyatt, 52, of Evergreen, Colorado, surrendered to authorities today on charges of conspiracy, dealing in firearms without a license and tax related charges, U.S. Attorney John Walsh for the District of Colorado, Special Agent in Charge Stephen Boyd for the Internal Revenue Service (IRS) – Criminal Investigations (CI) Denver Division and Special Agent in Charge Ken Croke for the ... Read More »

Two Things to Do When You Are Asked if You Want a Store Credit Card

get out of debt

We’ve seen the situation a hundred times while standing in line to checkout at a store, the person in front of you is asked if they want to apply for a store credit card and get a fabulous discount on their purchase. And you know what happens next, you are going to be asked as well. But should you jump ... Read More »

Morgan Stanley to Pay Billions for Mortgage Decption

get out of debt

The Justice Department announced yesterday that Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities (RMBS). This settlement constitutes the largest component of the set of resolutions with Morgan Stanley entered by members of the RMBS Working Group, which have totaled approximately $5 billion. As part ... Read More »

From the UK: The High Cost of Weddings and Some of The World’s Most Expensive Weddings

get out of debt

I recently went to an engagement party, and a fine affair it was. The party was held in a nice room, and they had a very good DJ, and excellent food; the food was outstanding. Did I mention the food:) As I was sitting there watching people dance, and the loving couple gazing intently at each other, my mind went, ... Read More »

Get My FREE Get Out of Debt Guy Newsletter

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt. You can unsubscribe at any time with just one click. After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

I promise to keep your email safe and secure.