By Liz McCormick

U.S. student loan debt now equals the size of the $1.3 trillion U.S. high-yield corporate bond market, presenting investors with a whole different range of risks.

Numerous changes to the Federal Rules of Bankruptcy Procedure (the “Rules”) take effect on December 1, 2017. The changes significantly impact the administration of consumer bankruptcy cases, and Chapter 13 cases in particular. Read More ›
Tags: Chapter 13, Chapter 7

In law, the “statute of limitations” is the deadline for bringing a claim or case. If a creditor wishes to sue a debtor in order to collect a debt, such as a medical bill resulting from a surgery or hospital visit, the creditor must sue before the statute of limitations runs out of time. If the creditor misses the deadline and the statute of limitations expires, the claim will be time-barred, which means the creditor will be unable to file a lawsuit.

The United States Bankruptcy Court for the Western District of Michigan recently issued an opinion in a bankruptcy case involving a husband and wife who filed for Chapter 7 bankruptcy protection. Read More ›
Tags: Chapter 7, Collections

Citibank Deceives Borrowers

Medical debt – number one cause for seniors filing bankruptcy
According to an article in Forbes, the 65+ demographic now makes up a higher percentage of bankruptcy filers than it did a decade ago.

According to court records, in 2016 more than 6,300 Chapter 7 bankruptcy cases were filed in the U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division. The same year, just under 2,150 Chapter 13 cases were filed, bringing the total above 8,000 cases. Some of these bankruptcy petitions were filed by individuals, while others were filed jointly by married couples, similar to the way spouses may choose to file a joint income tax return. But what about couples who are not married?

By JESSICA SILVER-GREENBERG, STACY COWLEY and NATALIE KITROEFF

Fall behind on your student loan payments, lose your job.

Few people realize that the loans they take out to pay for their education could
eventually derail their careers. But in 19 states, government agencies can seize stateissued
professional licenses from residents who default on their educational debts.

Another state, South Dakota, suspends driver’s licenses, making it nearly impossible
for people to get to work.

ONCE AGAIN CONSUMERS LOSE TO BIG BUSINESS