Film Review of Spent: Looking For Change

A recent documentary available on YouTube highlights the high cost of being poor.  Spent: Looking For Change, a film sponsored by American Express, explores the financial lives of people who lack access to banks or who have bad credit or no credit.  Here is a basic summary of the important topics covered:
According to the film, […]

Inherited IRAs not exempt, U.S. Supreme Court says

The U.S. Supreme Court recently made an important decision regarding Individual Retirement Accounts (IRAs) that have been inherited by someone who then files for bankruptcy.
At issue was an IRA account that the bankruptcy filer had inherited and that contained $300,000.  Bankruptcy law allows those filing for bankruptcy to keep IRA accounts, so long as those […]

Links – stuff worth reading from the weeks of 5/18/14 and 5/26/14

Yes, A New Government Rating System for Colleges is Actually in the Works. On May 25, 2014, the New York Times had an interesting article on college presidents’ reactions to President Obama pressing ahead with his plan to impose a new government rating system for colleges.  In a funny quote, a Dept. of Education official […]

Links – Stuff worth reading from the week of 5/11/2014

At the very beginning of this week, the Wall Street Journal had an interesting article on how banks that are located mainly in Wal-Mart stores collect a lot of fees from their customers, who tend to have bad credit histories.

From the Washington Post, there is an article on the debt buying industry and the sloppy […]

This Week’s Links

Student Loan Interest Rates to Rise With Treasury 10-Year Note
 – The Congressional Budget Office predicts that interest rates on new Stafford and PLUS Federal student loans will rise for the 2014-2015 school year because Congress tied the rates to the yield on the Treasury 10-year note.
Democrats Plan Push to Refinance Student Loans 
 – Roll Call’s blog […]

Do you really need Ch. 13 to save your home?

When does filing a Chapter 7 “straight bankruptcy” case help you enough so that you don’t need a 3-to-5-year Chapter 13 case?

Woman with Autism Gets Student Loans Discharged

I wrote a post for the blog of fellow New Jersey attorney Matthew Stoloff, who represents clients in the areas of disability rights and special education rights.  That post appears on Mr. Stoloff’s blog here.  You can also read the full text of my post right as follows:

In the past, I have mentioned the difficulty […]

When to consult a student loan lawyer

Sometimes it’s obvious when you need to see a lawyer who practices student loan law:  When you are being sued, when your wages are being garnished, when some form of collection activity is being threatened or has already been instituted. But “an ounce of  prevention is worth a pound of cure,” as the saying, attributed to […]

What’s involved with discharging my debts under chapter 7?

The point of filing bankruptcy is to get relief from your debts. So, when and how DO those debts get “discharged”–legally written off–in a regular Chapter 7 bankruptcy?

Wage Garnishments: Can bankuptcy stop them?

Wage garnishments are stopped instantaneously . . . except that different state laws and procedures can effect what happens to the current paycheck.