Income-Driven Repayment Programs for Federal Student Loans are a Mess

Income-Driven Repayment Programs for Federal Student Loans are a Mess

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

Student Loan Assistance and Debt Settlement CEO Banned

Scam Cash

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

So if My Student Loans Were in Forbearance They Should Be Forgiven?

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

If You Thought You Could Trust MoneyGram, Read This

Trustee Loss Mitigation Headquarters Raises Concerns

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

Is Century Law Firm or Century Law Group Selling Debt Relief?

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 and it initially appears to me that the company primarily focused on selling debt relief … Read more

Does Navient Have to Forgive All My Private Student Loans?

Does Navient Have to Forgive All My Private Student Loans?

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

Medical Debt Illegally Added to Credit Reports – Get Pissed

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

New Free Debt Relief Help if Your Student Loans Were Put Into Forbearance

New Free Debt Relief Help if Your Student Loans Were Put Into Forbearance

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

Caribbean Medical School a Sham. Student Debt Cancelled.

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