Published Tuesday, September 20, 2011 @ 8:03 am

For many recent graduates from colleges and universities all across the country, any job must feel better than no job at all. Shortly after graduation in May 2011, thousands of grads from Washington State to UNC-Wilmington, turned their back on student life and turned back on their computers only to begin their first official job searches—sending out e-mail-loads of resumes in what would become for many a months-long search for work….any work.…

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Published Sunday, June 26, 2011 @ 10:08 am

In these tough economic times, some households have had to put basic needs above plans for higher education, turning to personal savings and college funds to fight off foreclosure, meet mounting medical costs, and in some cases, even keep the lights on and food in the fridge. In the wake of the recent Recession, many commentators have begun to question the cost-benefit of analysis of spending for higher education versus the realities of the jobs (and salaries) earned as a result.…

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Published Sunday, June 19, 2011 @ 11:37 am

In these rough and tumble economic times, some households have been forced to put low-level, basic needs above long-term plans for higher education, turning to personal savings and what they previously considered to be college funds to fight off home foreclosure, meet mounting medical costs, and in some cases, even keep the lights on and food in the fridge.…

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Published Saturday, June 18, 2011 @ 7:47 am

These summer months are shaping up (again) to be tough times for recent college graduates. This latest round of job seekers continues to face high unemployment and mounting debt. So what happens when these poor economic conditions coincide with payment deadlines for sometimes astronomical educational loans? One word: defaults. In the end, this feeling of financial helplessness leaves many recent grads reeling, and rightfully so, in an economic climate may mean they will never be as successful or financially secure as their parents.…

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Published Monday, June 13, 2011 @ 11:03 am

You may have heard the phrase “debt ceiling” being bandied about in the media recently. But few people outside of Washington D.C.’s Beltway, and in the current Congressional fight over raising it, truly understand what the term has to do with the proverbial “price of beans.” But financial experts warn that this unending political battle over how the country handles our national debt limit, could have lasting effects on average American pocketbooks.…

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Published Wednesday, February 16, 2011 @ 8:42 am

In the last century, it was not uncommon to hear of average Americans, understandably wary of a then-fledgling banking industry, hiding personal fortunes under household mattresses instead of placing them in various accounts.  And yet while wads of cash are even less common in today’s tough economic times—times when banks coincidentally are mistrusted more than ever—the idea of Americans hording whatever they have for a “rainy day,” is not.…

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Published Wednesday, November 24, 2010 @ 5:03 am

Student loans, except in a few rare instances where a severe personal hardship can be proven and allowed by a judge, are not dischargeable in bankruptcy. Thankfully, student credit cards can be discharged in a Chapter 7, because banks work tirelessly to contribute to the spending habits of America’s college students.…

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Published Friday, September 3, 2010 @ 3:32 pm

While many people consider it common knowledge, the last-minute fear before deciding to file bankruptcy could end up costing you even more come retirement. Turns out, that as the recession deepens, more people are looking toward their long-term savings for an influx of cash to help stay afloat.

Well, don’t ever be one of those people.…

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Published Wednesday, July 7, 2010 @ 8:48 am

For most recent college and post-college graduates, the hot summer months are a chilly reminder that student loan repayment deadlines are mere months away. These impending debts arrive at some of the toughest economic times ever for the newest round of job seekers, as the nation, and especially its youngest workers, continue to face record unemployment and mounting consumer debt.…

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Published Friday, June 11, 2010 @ 10:10 am

The summer months are shaping up to be tough times for recent college graduates. This newest round of job seekers continues to face record unemployment and mounting consumer debt. So what happens when these poor economic conditions coincide with mandatory payback timelines for astronomic educational loans? One word: defaults. In fact, many recent grads will soon exceed the 270-day window for beginning paying back their student loan, triggering a default on their mounting student loans—loans that often have high interest rates.…

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Published Friday, February 26, 2010 @ 7:15 am

For most bankruptcy bound individuals, a discharge of all individual debts is considered the Holy Grail of any bankruptcy filing, yielding a permanent injunction that prevents creditors from collecting on debts. However, any good discussion of debt dischargeability also tackles the primary exceptions to look out for when considering any bankruptcy filing.…

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Published Tuesday, January 5, 2010 @ 8:41 am

Wage garnishment is a relatively harsh debt collection practice employed by creditors when other methods of debt collection have failed. Wage garnishment allows a creditor to receive payment on a debt by intercepting wages before a debtor has even received them. A creditor may be able to arrange to receive payments equal to a significant percentage of a debtor’s wages, generally anywhere from 10% to 25%.…

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Published Saturday, December 5, 2009 @ 6:14 pm

On December 1, the United States Supreme Court was in session to listen to a couple of arguments about bankruptcy.

The first case concerned student loans, specifically in reference to their ability to be discharged under the confines of a Chapter 13 bankruptcy. The other case, however, had larger implications on the industry as a whole, as it challenged the bankruptcy code itself.…

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Published Friday, October 9, 2009 @ 5:23 pm

Even though we are in the business of helping people through bankruptcy, legally and sometimes even emotionally, we understand that filing is not always the best option for you. However, our greatest fear is for those who should file but decide not to for the wrong reasons, whether it be because of the stigma of bankruptcy, an inability to face financial reality, or opting for a “less than legitimate” credit counselor.…

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Published Tuesday, September 15, 2009 @ 1:10 pm

For so many years people have held the view that an education is one of the best investments you can make, and therefore it is prudent to spend whatever it takes to get the best education possible. It’s true that a college diploma will, on average, result in improved earning power for degree holders, and the improvement is often dramatic.…

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Published Wednesday, July 15, 2009 @ 4:11 pm

Ah, the student loan: so easy to get now, so eager to overstay its welcome later. Student loans are notoriously difficult to shake. Defaulting on student loans is no joke: how’s this for a laundry list of potential consequences? You won’t be able to get any more student loans. Your credit will suffer as the lender reports missed payments.…

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Published Thursday, July 2, 2009 @ 5:18 pm

It may sound a little silly, but do you know who your student loans came from? And do you know where they are now? Arriving at the answer is often not so easy as providing the name of your school or simply answering “the federal government”― even if all of your loans came from the federal government’s lending program.…

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Published Tuesday, June 9, 2009 @ 11:10 am

As you are probably well aware, bankruptcy is an important decision that should not be taken lightly. If you are eligible to file but hesitate to do so, you stand to lose more than you may guess. Dithering too long can ruin the strategic advantage of timing; deciding not to file at all could cause you to lose everything.…

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Published Thursday, May 14, 2009 @ 12:55 pm

The shrinking job market is squeezing college graduates in record numbers as the number of student loan defaults has not been this high since 1998. Suddenly, today’s college graduates don’t have much of a reason to toss that mortar board in the air.

Adding a few more demerits to the situation is the fact that employers have also cut back drastically on benefits packages that historically included reimbursement for continuing education.…

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