Short answer: maybe. You may be "judgment proof" with respect to most types of unsecured debt (debt without collateral) if you: Own no real estate whether in your name or not; Income is limited to the category and amount of income that has special protection from creditor claims, such as social security income or VA [...]
Need Help With Your Solar Panel Debt? Many homeowners are trapped in solar panel loans that they can’t afford to pay. Worse, many homeowners owe a large debt for a solar system that is not working and the solar panel installer is bankrupt. In some cases, homeowners were deceived about how the loan [...]
What happens if an SBA COVID EIDL loan is not paid? The SBA has resumed collection on repayment of COVID EIDL loans. The SBA has various collection options. If payments are 90-120 days behind, you are in default. The SBA can turn the debt over to the Bureau of Fiscal Services/Department of the Treasury. The [...]
The Dept of Education restarted collection action on 05/05/25. If your student loan is in behind, contact your servicer for options to cure the default. Income Based Repayment plans are available. Once a loan is in default, the US can take collection action including wage garnishment, garnishment of social security [...]
Easier is not the same as easy! In the past, discharging federal student loans in bankruptcy has been very difficult. The Department of Justice fought discharges tooth and nail. Discharging student loans through bankruptcy was unrealistic because it was expensive and exhausting for borrowers (and their attorneys). The Department of Justice has released [...]
Nothing is worse than worrying about how much you will have to pay for medical care. Effective January 1, 2022, the new "No Surprises Medical Act" is supposed to make medical billing more certain. Don't have health insurance? If you don't have insurance, your medical provider is required to provide a "good faith" estimate [...]
If you are a public servant, such as first-responder, teacher, government employee, non-profit employee, nurse, etc., you have a limited window to obtain credits for payments made under the Public Servant Forgiveness Program. Under the Public Servant Forgiveness Program, a student loan borrower with qualifying loans is required to make 120 qualifying payments. Then, [...]
Federal Student Loan Deferment Ends 05/01/2022 Most people with federal student loans have been in deferment for 2 years now. Not all federal student loans are in deferment but most are. Beginning May 1, 2022, all federal student loan borrowers will need to restart payment. Now is the time to consider your repayment options. [...]
Sometimes, you need to stop autodrafts. That may be because a company is drafting your account without permission. Or maybe you are barely keeping afloat and need to cancel nonessential payments. Some companies are difficult to deal with. But you have a right to stop automatic debit payments under federal law. Here are the [...]
What financial path do you take from here? We had all hoped that the pandemic would be over by now. Unfortunately, many problems remain. Here is the current status of relief: Mortgages - Forbearance requests can be made until September 30, 2021. Here is more information on the steps you need to take. Student [...]