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Posts tagged "debt relief options"

Student loan debt continues to rise. Can bankruptcy help?

The third quarter report by the Federal Reserve Bank of New York we discussed in our last blog post shows that student loan debt increased nearly 4.6 percent between quarter two and quarter three. This is a substantial amount, given that if it continues, that could mean a yearly increase of 20 percent.

Are you "broke enough" to file bankruptcy?

Even in today's economy, many people in debt see bankruptcy as a bad word, a word that, if attached to their names, says, "I failed." They shy away from bankruptcy, waiting until they are far over their heads in debt before they consider it as an option. Then, they think again, only to find that bankruptcy is not the nightmare it appeared to be. Instead, it brings about a new day - the financial relief needed to start anew.

The FDCPA and Creditor Harassment

The Fair Debt Collection Practices Act (FDCPA), which is enforced by the Federal Trade Commission, details what debt collectors may or may not do when they collect debt. First and foremost, it prevents debt collectors from using unfair, deceptive or abusive practices to collect on a debt.

Federal Agency Recommends Discharging Private Student Loans in Bankruptcy

This week, the Consumer Financial Protection Bureau, a government agency in charge of regulating consumer protection, issued a report to various committees in Congress that discussed the status of private student loans. Perhaps most importantly, the report suggested that Congress allow former students with private student loans to discharge their loans in bankruptcy.

Medical Bills Cause Financial Hardship for Women in U.S.

In a recent blog post, we discussed how medical bills can lead to financial hardship and how bankruptcy can help those in debt reach financial freedom. Now, a study published by the Commonwealth Fund shows how significant medical debt really is in the United States.

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