Easier is not the same as easy! In the past, discharging federal student loans in bankruptcy has been very difficult. The Department of Justice fought discharges tooth and nail. Discharging student loans through bankruptcy was unrealistic because it was expensive and exhausting for borrowers (and their attorneys). The Department of Justice has released [...]
Nothing is worse than worrying about how much you will have to pay for medical care. Effective January 1, 2022, the new "No Surprises Medical Act" is supposed to make medical billing more certain. Don't have health insurance? If you don't have insurance, your medical provider is required to provide a "good faith" estimate [...]
If you are a public servant, such as first-responder, teacher, government employee, non-profit employee, nurse, etc., you have a limited window to obtain credits for payments made under the Public Servant Forgiveness Program. Under the Public Servant Forgiveness Program, a student loan borrower with qualifying loans is required to make 120 qualifying payments. Then, [...]
Federal Student Loan Deferment Ends 05/01/2022 Most people with federal student loans have been in deferment for 2 years now. Not all federal student loans are in deferment but most are. Beginning May 1, 2022, all federal student loan borrowers will need to restart payment. Now is the time to consider your repayment options. [...]
Sometimes, you need to stop autodrafts. That may be because a company is drafting your account without permission. Or maybe you are barely keeping afloat and need to cancel nonessential payments. Some companies are difficult to deal with. But you have a right to stop automatic debit payments under federal law. Here are the [...]
What financial path do you take from here? We had all hoped that the pandemic would be over by now. Unfortunately, many problems remain. Here is the current status of relief: Mortgages - Forbearance requests can be made until September 30, 2021. Here is more information on the steps you need to take. Student [...]
The Snowball Method A popular method for paying down debt is known as the snowball method, introduced by Dave Ramsey. This method focuses on paying off the smallest debt to the largest. Once you’ve paid off one debt, you take the money you would have paid on that small debt and apply it to the [...]
Receivership - If you are sued and end up with a judgment against you, a debt collector may try to collect through a receivership. This is where the debt collector asks the state court judge to appoint a receiver to assist in collecting the money owed on the judgment. Under Texas law, the receiver may [...]
For federal student loans, the forbearance program is extended until at least January 31, 2021. This means at least a temporary pass on qualifying loans with no interest for a few more months. At Cross Stone Law, we only handle bankruptcy cases. We will evaluate your student loan debt for the possibility of discharge [...]
Considering Chapter 7 bankruptcy and whether to file is never easy. Facing unpaid bills and debt collector calls? Don't stick your head in the sand!The first thing to do is get organized.Start putting all your bills and letters in an envelope or box. Yes, open them first to be sure of what they are, but [...]