Legal Articles, Bankruptcy & Debt

Household Debt in the US Heavy with Student Loans

Recent studies show that the average household is in over $135,000 of debt. Even without the added personal strain of an accident or illness, many consumers are living paycheck-to-paycheck, teetering on the edge every month when it comes to their budget.

Co-Signers May Find Themselves Faced with Collections Lawsuits – Beware!

Even if you trust the person you're co-signing for, circumstances out of their control could render them unable to pay. If a creditor is unable to collect from the primary borrower, they have every right to pursue the co-signer.

Student Loan Delinquencies Rise Hand in Hand with Consumer Debt

The Federal Reserve Bank of New York reported in November 2018 that student loan delinquencies had risen 9.1%, compared to the 8.6% increase in the second quarter. This spike was noted as the largest jump in seven years.

Default Judgment: Should I Just Accept It?

While you may be tempted to put off dealing with debt issues until the last minute, a quick response is the best route towards a solution. The settlement, or even defense, of a collection lawsuit might be easier than you think.

Are Private Student Loans Your Best Bet?

Private student loans can be enticing for a few reasons, particularly if you have exhausted all the federal funding, grants, and scholarships available to you.

Credit Card Debt After Chapter 7 Bankruptcy: How to Avoid It!

Not everyone who files for Chapter 7 bankruptcy is necessarily guilty of money mismanagement; illness, unemployment, or an accident may have caused their finances to spiral out of control.

Court Judgments Could Mean Pay Garnishment

While some creditors may give you some leeway due to sympathy over a serious life issue, eventually the collections activity will become aggressive. Business is business, and at the end of the day, they want their money.

Private Student Loan Borrowers May Still Be in Their Teens

As student loan debt in the US reaches over $1.5 trillion, lenders continue to fund freshman who may find themselves in such debt once they graduate that they are forced to put off life experiences such as starting families, opening businesses, and more.

Collections Lawsuits, Court Judgments and Debt Collectors: Is the Stress Making You Sick?

Studies have shown that stress over money can lead to serious problems with your health, including depression, anxiety, migraine headaches, and even heart attacks.

Should I Worry About My Valuables Being Taken if a Credit Card Company Sues Me?

If you are sued by a credit card company, you may only have 30 days or less to respond after being served. Working with an attorney in writing a response could be critical to your financial future!

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