S is for Step Plan image by: dreamstime image by: dreamstime Chapter 13 bankruptcy is difficult enough to understand. The Chapter 13 plan is the point of a Chapter 13 bankruptcy case. Chapter 13 is a payment plan bankruptcy case, as opposed to Chapter 7 or “straight” or “liquidation” bankruptcy. Clients always ask: How does the…
American youth has been sold a bill of goods, get that college education, you will make more money, it will pay off in the long term, buy now, pay later, get student loans! Lenders even market to unemployed people, borrow our student loan, get that degree that leads to employment! Yet, more college graduates are…
I was in Ann Arbor recently, for a bankruptcy hearing. On paying to leave the parking structure, I noticed the young lady had a thick book she was reading. I asked: “Studying hard?” She smiled wanly and said: “No, I have my bachelor’s degree.” I said: “At least you have a job.” None of my…
A presentation on student loans Department of Justice lawyers, who oppose, quite fiercely, discharge of student loans in bankruptcy cases, but, presented lots of information on other ways to deal with repayment. Contact the ombudsman! was there cry. (Don’t bother us, we have enough to do.) There are people in the Federal Student Aid Office…
I attended a presentation on student loan debt by attorneys from the Department of Justice, who fight discharge of student loans in bankruptcy cases, but presented lots of information on other ways to deal with repayment. A frequent theme was: contact the ombudsman! The Federal Student Aid Office has on office to identify your loan…
Some real life examples of Dave Ramsey lessons.One of his myths from Total Money Makeover: “You can get a good deal on a car at 0% interest.” I agree that is a myth. With permission, without using names, here is some of an email exchange with a current potential bankruptcy client. “Some credit cards give…
