Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

What Are Some Common Public Service Loan Forgiveness Mistakes?

Posted on July 14, 2018 by The Sader Law Firm

If you are a full-time employee in a government agency or eligible not-for-profit organization, you may be able to qualify for student loan forgiveness after making 120 qualifying payments over 10 years. This is due to the Public Service Loan Forgiveness Program, or PSLF. Loan forgiveness, however, has a number of requirements that you must meet in order to receive it. There are a few mistakes people make that prevent them for qualifying. Mistake #1: You Did Not Enroll in An Income-Driven Repayment Plan You only qualify for PSLF if you enroll in and pay under an income-driven repayment plan. Most people who are enrolled in these plans see a deduction in their monthly payment amount anyway. Mistake #2: You Missed a Loan Payment Your payment will not qualify if it is more than 15 days late. So, make sure you are staying on top of your payments while working…
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Qualified Written Request Guidelines

Posted on July 6, 2018 by The Sader Law Firm

This is syndicated content that was originally published on by Attorney Michael J. Wambolt of Sader Law Firm. Short guide explaining the process for responding to Qualified Written Requests or “QWRs. 1. Responding to QWRs. Qualified Written Requests (QWRs) can prove costly if not addressed in a timely manner. It is not uncommon for debtors facing foreclosure or a stay relief motion during bankruptcy to issue QWRs demanding copies of loan documents, servicing agreements, and other evidence of secured status in a bid to establish a lender*s lack of standing to enforce a Note and Deed of Trust. Though tedious, QWRs do not grant borrowers license to request any and all information concerning their loan accounts. Moreover, not all requests qualify as QWRs in the first place. 2. QWR Statutes and Case Law. QWRs are governed by the Real Estate Settlement Procedures Act (RESPA). Courts interpret 12 U.S.C.S. *…
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Wage Orders Can Help You Complete Your Bankruptcy

Posted on June 28, 2018 by The Sader Law Firm

Chapter 13 bankruptcy allows debtors with a source of income to discharge many types of debts. In a Chapter 13 bankruptcy, your debts are consolidated into a repayment program that is paid back over three to five years. The Trustee then distributes these payments to your creditors. However, it is crucial that you make your payments to the Trustee on time to reap the advantages of a Chapter 13 bankruptcy. One way to do this is with a wage order. There are multiple benefits to a Chapter 13 bankruptcy. For instance, you could stop the foreclosure process on your home and become current on delinquent mortgage payments. You might also be able to strip a second mortgage. How Your Wage Order is Helping You Complete Your Bankruptcy With a wage order, the bankruptcy court requires your employer to submit your Chapter 13 payments from your pay check. Wage orders make Chapter…
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