Forty million Americans have student debt. Together, they owe more than a trillion dollars -- an amount that has doubled since the great recession. Americans now have more student loan debt than debt from credit cards, car loans, and home equity lines of credit. country, interests rates as high as 11, 12 and 13 percent.
We have a student debt crisis -- and we need to solve it now. Check and see which candidates are offering solutions.
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Consumer Bankruptcies, Chapter 7 and Chapter 13 are the strongest available debt protection tool available but should be a last resort rather than the first one. We offer both bankruptcy and non-Bankruptcy to most debt problems.
FORECLOSURES- A FORECLOSURE IS THE MOST SERIOUS DEBT PROBLEM A CONSUMER WILL FACE.
Filing Chapter 13 Bankruptcy is the only method 100% certain to guaranteed to stop a foreclosure ( for those who qualify). In chapter 13 the total of the mortgage payments you are behind at filing is paid over a 60 month period along with other debt, Non Bankruptcy alternative.
While loan modification cannot guarantee a foreclosure will be stopped in many cases the lender will remove home from foreclosure once a complete Loan modification package I submitted to the lender. That said Loan modifications, have many advantages over Chapter 13, most importantly missed payments are usually moved o the end of the loan, not repaid in five year.
Also loan modification, often lower interest rates and monthly payment, even convert adjustable rates to fixed rates none of which can be done in Chapter 13.
In many situations, bankruptcy can wipe out your tax debt, but your entire financial situation and timing has to be examined by an accounting, tax and bankruptcy professional. Bankruptcy can be a powerful weapon against the IRS, especially if it looks like an OIC might not work for you. The beauty of a “tax bankruptcy” (which is simply a regular bankruptcy the filing of which is timed to maximize the discharge of taxes), is it can also wipe out state tax debts; medical bills; credit cards; etc. Compare to an OIC that only addresses federal tax debts – not other debts that maybe troublesome to you.
Bankruptcy of course does not work in all tax cases, so we have created a new division Tax Resolution, LLC , to handle all non-bankruptcy tax problems, from unfiled tax returns, wage and bank levy, audits, appeals and more.
See our website tax-resolution.net
Chapter 7 is the easiest and fastest way to discharge unsecured debt. It is commonly known as a straight bankruptcy or fresh start as there are no money payments made to the court as there are in Chapter 13.
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In some cases if you have older debt of $10.000.00 or more, we can often negotiate reduce the debt by 50%- 75%.
Whether you're happy about the outcome of the election or not, one thing's for sure - the student loan landscape isn't about the change for the better.
Hopes for bankruptcy reform have been dashed.
There's virtually no chance for an overhaul of the student loan system that includes additional borrower protections. Many are betting the CFPB will play less of a role in the coming years, and some are going so far as to say the consumer watchdog will be dismantled entirely.
That means student loan borrowers are going to need us more than ever.
Student loans are dischargeable most Bankruptcies. However a Chapter 13 can stop a Student loan wage levy and put the loan in deferment for up to five additional years.
Non bankruptcy. Alternative