Student Loan Lawyer

It's not what life gives you, but rather, how you respond that matters. Stay positive.

Yep! I agree with all of this. I believe this was a "set-up" by Sallie Mae back in the 70's when they argued to Congress that if graduates knew about the bankruptcy option, they would all want that. It didn't happen that way. there was never a consumer rush to file bankruptcy and everyone just accepted it. After the services had the protections against a bankruptcy discharge, they just went about incremental increases and here we are with a more than 236% increase in tuiti...on over the past 20 years. Did the education get any better? I say no. Conservatives need to ask that the schools and book publishers lower tuition to price it right for the current market conditions and the Dean is just going to have to take a pay cut from their more than $500,000 annual salaries. For crying out loud. All parties need to look at this issue from multiple perspectives and the right solution will come. Don't force the taxpayers to pay the bill when we have companies behaving badly for the free ride on the government cheese. This issue is but the tip of the iceberg in terms of income inequality, racism and the division that is readily apparent these days. Bloomberg

Hey Lifehacker the Consumer Bankruptcy Reform Act of 2020 is now pending before Congress. What if we could get 43 million Americans to push Congress to pass this one? Check it out: https://finance.yahoo.com//bankruptcy-system-student-loans

Are you sending your payments to Sallie Mae or Navient? Did you get a postcard from their Hawaii vacation? Well, you paid for it!!! VOTE.

Here's a great article that explains the current law on student loans and makes a great case for needed changes. The Consumer Bankruptcy Reform Act of 2020 is now pending before Congress. If you want to see change, please call on Congress to pass this Act. https://lalawyer.advanced-pub.com/?issueID=20&pageID=1

I like the idea of economic disobedience. That definitely goes against the grain of most who really want to repay their debts. We need to be clear that refusing to pay will affect your credit report until the path is cleared. What would the United States government do if the 43 million stopped paying? Can they handle that much debt collection? We may see this outcome if the economic divide widens any further. https://www.teenvogue.com//student-loans-debt-collective-b

THIS JUST IN: Consumer Bankruptcy Reform Act of 2020 This Act is now pending before Congress. The purpose of the Act is to establish a bankruptcy system that helps individuals and families in the United States regain financial stability and protects against abusive and predatory behavior by 1. Streamlining the process of filing for bankruptcy, simplifying court procedures in bankruptcy, and lowering the cost of bankruptcy for both consumers and creditors;... 2. Creating a single-chapter consumer bankruptcy system that allows consumers greater flexibility in addressing their debts and prevents disparate treatment of similarly situated consumers; 3. Offering consumers more and better options to deal with their debt, while ensuring fair treatment of creditors; 4. Making it easier for consumers to pay an attorney for counsel or representation in a bankruptcy case; 5. Simplifying the identification and treatment of cases by expanding the number of routine cases that are handled by the court in which there is no chance of a reasonable payment to creditors and reducing paperwork requirements in those routine cases; 6. Allowing modifications of car loans based on the market value of a car; 7. Allowing the discharge of student loan debt on equal terms with most other types of debt; 8. Reducing racial, gender, and other harmful disparities in the availability, accessibility, costs, and outcomes with respect to the bankruptcy process; 9. Ensuring the fair treatment of claimants for domestic support obligations; 10. Reducing abusive creditor behavior; and 11. Closing bankruptcy loopholes that allow the wealthy to exploit the bankruptcy process. Well now, if that’s not the best Holiday Gift Basket of an Act, I don’t know what is!!! https://www.warren.senate.gov//warren-and-nadler-introduce

The most important action you can take now is to VOTE like your life depends on it. Educate yourself on your options by visiting www.studentloanborrowerasistance.org

Stop wondering what to do about your student loans and start here. https://www.studentloanborrowerassistance.org//income-bas/

We either need to provide some form of administrative remedy for our fellow Americans who got ripped off from a crappy education, or we free them through a bankruptcy discharge! A 94% fail rate is Undue Hardship! What kind of country do we live in where we can discharge poor choices like gambling, and punish good choices like education? The system is flawed.

Trying to settle your student loans can be a nightmare with all the bad information being provided from people trying to help. If your student loans are federal loans, they are not negotiable for settlement because the Code of Federal Regulations allows Dept. of Education to only reduce principal by not more than 10% and maybe a little interest waiver. So, this article gets it wrong on that front. Is your loan a private loan, then YES you can negotiate a settlement. https://thecollegeinvestor.com/20332/settle-student-debt/

These accounting issues by student loan servicers cause erroneous increases to the principal balance owing. Then, interest is compounded onto those erroneous increases and pretty soon borrowers are buried for a life sentence. It's good news that our state court judges are looking at these issues when Bankruptcy may not be right.

Here are some helpful tips during #quarantine #Covid19 #studentloans

We have our priorities all backwards. Celebs and sports stars rake in millions entertaining us while our "Essential" medical professionals struggle with student loans and their own survival! #studentloans #Covid19

I'll be speaking on Student Loans in Florida this month. Be sure your favorite bankruptcy attorney knows about this important workshop for #lawyers Register below. #Studentloans #followmegaryvee Team GaryVee https://www.mortgagemodificationeducation.com/orlandofebru/

Damn straight #studentloans discharged in #bankruptcy will NOT have any tax consequences! That's why it's the best kept secret in the financial world. #followmegaryvee #garyveechallenge https://www.cpapracticeadvisor.com//irs-says-discharged-st

https://www.surfcitylawyers.com//going-from-broke-on-crac/ #Crackle #studentloans #followmegaryvee

Here's a #ThrowbackThursday article showing how Sallie Mae's lobbying efforts sought to cast a dim light on the federal government's takeover of #studentloans asserting it would put people out of work at private lending centers back when unemployment was at 10%. Interesting. Now they have money to take the entire team on a 1 week paid vacation in Hawaii! Who won on that one?

I want to hear from anyone who has successfully completed this program. I had no idea that the first income-driven plans are 25 years old this year. If the current 1% success rate for the public service forgiveness is our measure, then I won't hold my breath for this.