October 18, 2017

Beware Debt Consolidation and Repayment Proposals

In my bankruptcy practice I have dealings with many people who, in response to financial difficulties, have sought help from companies that purport to help settle, consolidate or otherwise manage the debt. By and large, most of these people have learned of these companies from advertising. While there are few legitimate firms that provide these services, most simply draft the debtor’s funds … [Read more...]

Repaying debts with Debt Consolidation, Debt Settlement, or Chapter 13

In nearly 40 years of practicing bankruptcy law, I've learned a lot about human nature. One of those things is that the vast majority of people want to pay their debts. Almost invariably, they do not want to file bankruptcy because of the perceived stigma. This is understandable, but it may lead to a decision that in the long run becomes costly and painful. To meet that desire to make good on … [Read more...]

Senior Citizens and Student Loans

Student loans are often in the news, but a Washington Post article in April of this year examined the increasing problem of senior citizens with student loan debt. New research from the Federal Reserve Bank of New York shows that Americans 60 and older still owe about $36 billion in student loans, providing a rare window into the dynamics of student debt. More than 10 percent of those loans are … [Read more...]