Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

Navient Announces Plan to Exit Student Loan Servicing Market

Posted on February 26, 2024 by Sader Law Firm

Navient Corporation recently announced to shareholders plans to end its current student loan servicing business following a number of scandals and government lawsuits. The one-time leader in the market plans to transfer millions of student loan borrower accounts to the Missouri Higher Education Loan Authority (MOHELA). In 2014, Navient was the largest student loan company in the world, managing more than 12 million accounts of student loan borrowers. The organization has since faced numerous consumer protection lawsuits from state and federal regulators and continues to defend itself against allegations of cheating millions of customers out of their rights to affordable loan payments. Despite exiting the market, the company still collects on roughly $40 billion in government-regulated loans, which originated under a federal student loan program and $17 billion in private education loans. The organization has a track record of scandal and alleged abuse, including attorneys general of six states suing…
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Americans Starting to Feel Inflation Cooling

Posted on February 2, 2024 by Sader Law Firm

Inflation rates are now lower than they were a year ago, according to the U.S. Department of Labor (DOL). Consumer inflation expectations are also moving lower. A recent report from the DOL showed that consumer prices rose a seasonally adjusted 0.3% in December from November, resulting in prices being up 3.4% from 2022. Price increases were up 3.1% year over year in November. However, the main difference comes when looking at core prices, which exclude food and energy products that are more unpredictable. Looking at the changes for core prices show that for the first time since May 2021 prices rose less than 4% year over year, with prices rising 3.9% YOY in December. This trend of inflation easing up is likely to continue, especially when considering housing costs for both renters and owners. Rent prices have been cooling, based on new data from sources such as Zillow as well…
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The IRS Announces New Free File Guided Software for Taxpayers

Posted on January 25, 2024 by Sader Law Firm

The Internal Revenue Service (IRS) recently announced that its Free File guided software service is ready for taxpayers to use ahead of this year’s tax season. This will allow millions of taxpayers to file using free technology. Offered through a partnership between the IRS and Free File, Inc., IRS Free File is one of many options available for taxpayers for filing their returns online or in person. Eight partner organizations are available to help taxpayers with an adjusted gross income (AGI) in 2023 of $79,000 or less with their filing. Those with an AGI over $79,000 can use the IRS’s Free File Fillable Forms (FFFF), the electronic version of IRS paper forms, beginning January 29. IRS Free File providers will accept completed tax returns and hold them until they can be submitted electronically on January 29, when filing season begins. “The IRS continues its partnership with Free File Inc. to…
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