Question: Dear Steve, I refinanced student loans with my first wife, we got divorced, and now she refuses to pay her share. Can I sue her to recoup the money I have paid? What are my options? Paul Answer: Dear Paul, This is America; you can sue anyone at any time for any reason. That … Read more
The Government Accountability Office (GAO) has just published a report examining Income-Driven Repayment (IDR) programs and how they are being managed. The findings are not encouraging. The Department of Education approved forgiveness for a total of 157 loans under Income-Driven Repayment (IDR) plans as of June 1, 2021, but has not taken the steps necessary … Read more
Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order to resolve its allegations that Performance SLC, a student loan debt relief business, and Performance Settlement, a general debt-settlement company, along with their owner and CEO, Daniel Crenshaw, engaged in wrongful fee-charging practices and deceptive telemarketing. Performance SLC unlawfully collected upfront payments from borrowers … Read more
Question: Dear Steve, I graduated from college in 1998, and my loans have been in and out of forbearance (mostly forbearance), just accruing more and more interest. Thanks for sharing the information on the latest Dept. of Education announcement regarding forbearance steering relief. So, in theory, if someone has loans in both repayment and forbearance … Read more
Question: Dear Steve, I just set up an account with LPG last night, and I’ve changed my mind. Can I just cancel it? My first payment is not due until the 5th of May? Deborah Answer: Dear Deborah, I assume you are talking about Litigation Practice Group. I would urge you to read the client … Read more
The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James today announced they are filing a lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc. (MoneyGram)—one of the largest remittance providers in the U.S.—for systemically and repeatedly violating various consumer financial protection laws and leaving families high and dry. The lawsuit … Read more
I’ve recently heard more about a group offering legal help to get people out of debt. People have mentioned similar names of companies, both Century Law Group and Century Law Firm. From a look at each company’s website CenturyLawInc.com and CenturyLawGroup.com it initially appears to me that the company primarily focused on selling debt relief … Read more
Question: Dear Steve, I have eight private student loans past the statute of limitations, which fell off my credit report, with interest combined to over $200,000 debt value. One loan, the largest loan in my account, has been forgiven by Navient, which I recently learned via email. I wanted to share this email with you, … Read more
A report issued today by the Consumer Financial Protection Bureau (CFPB) examines the financial consequences of medical billing and collections endured by individuals and families across the country. The report draws from the rising volume of medical billing and collection complaints submitted to the CFPB. The CFPB is using today’s research to strengthen its across … Read more
The Department of Education announced steps that will bring borrowers closer to public service loan and income-driven repayment (IDR) forgiveness by addressing historical failures in the administration of the federal student loan programs. Federal Student Aid (FSA) estimates that these changes will result in immediate debt cancellation for at least 40,000 borrowers under the Public … Read more
Question: Dear Steve, I am alone in the world. I lost my parents at 16 and worked hard to put myself through school, grad school, flight training, and a career as a pilot. I was married at 33 and tragically widowed at 37. As a result, I have had to make many financial decisions, good … Read more
Question: Dear Steve, I want to know if I qualify for student loan forgiveness. I am currently in the military, but it has not been ten years yet, and I believe that I have made 120 on-time payments. My current student loan company is in the process of selling my loan to another company. How … Read more
Question: Dear Steve, I am in debt over my head and having a very hard time keeping up with credit cards. I pay the bills, but I have to use a credit card if I need something later in the week. Can Credit card companies garnishee my S.S. widow’s benefits? That is my only income. … Read more
New information out about housing in the Federal Reserve Bank of New York Housing Survey gives us a current snapshot of rent and renters. More than 35 percent of renters have been renting for ten years or more. Many people let outside of homeownership and real estate asset-building cycles. The issues that have caused people … Read more
The Federal Trade Commission has taken action against a for-profit medical school in the Caribbean and its Illinois-based operators, alleging they deceptively marketed the school’s medical license exam test pass rate and residency matches to lure prospective students. The school and its operators are also charged with violating the Holder Rule, which preserves rights for … Read more