Many Americans recently filed a tax return only to discover their refund was not what they had expected — or worse. Others might have prepared the documents only to seek an extension due to an unplanned need to pay. Now, the realization sets in that financial hardships remain or might have worsened. Right now, foreclosures are increasing following all of the relief and moratoriums, while adjustable-rate mortgages are going up. The restart of student loan debt repayment continues to loom. Individuals seeing renewed or increased difficulty meeting debt obligations need to know bankruptcy can help provide a path forward. Attorneys at Sader Law Firm regularly help keep individuals and families in a residence, stop calls from creditors and develop a plan to meet the specific needs of their situation. However, those considering bankruptcy should keep a few things in mind: While most types of personal obligations can be discharged through…
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The U.S. Department of Education recently announced plans to use a “secret shopping” program aimed at better protecting student borrowers and cracking down on postsecondary institutions deemed to be low-performing or predatory in lending practices. This aims to build on the current administration’s stated commitment to improve federal student loan programs. Detailed in a recent news release, the DOA’s plan calls for the Enforcement Office of Federal Student Aid (FSA) to monitor compliance with existing laws and regulations related to participation in all federal student aid programs. In retail terms, companies often employ “secret shoppers” to pose as a customer in order to evaluate the quality of service. The FSA will be tasked with evaluating recruitment, enrollment, financial aid, and other practices of lending offices in an effort to identify potentially deceptive or predatory practices related to intake and approval of student loan applications. “Secret shopping is another tool in…
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Sader Law Firm attorney James Boyce provided legal insight into President Biden’s student loan relief announcement in an on-camera interview with KSHB 41 News in Kansas City. In the interview, Boyce noted to the reporter the importance of knowing who your provider is, what type of student loan you have and how much you owe. “The formula is going to be lower, meaning that your payment is going to be lower, and if your balance was lower, it will last for only 10 years instead of 20,” Boyce told KSHB 41 News regarding the new repayment options. “So that means lesser payments over a shorter period of time. If you legitimately can’t afford a thing, you can probably get a $0 payment plan.” The full story can be viewed and read here. If you’re concerned about outstanding student loan debt, Sader Law Firm can assist in working to resolve your…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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