Topics: Your Money & The Law - 55 results

A new law under consideration by the United States Senate could make bankruptcy a viable option for consumers who are struggling to repay their student loans, if the loans came from a private lender. Student loans cannot currently be discharged in bankruptcy without rare “undue hardship” $1 trillion in student debt seen as threat to the nation’s economy “Fairness for Struggling Students Act” would grant avenue of relief for people who can’t pay   Debt Bomb Student loan statistics in …

Superbowl champion, quarterback terror and perennial pro-bowler Warren Sapp has filed for bankruptcy in southern Florida, owing millions to creditors despite a six-figure monthly income. According to his filing, Sapp owes more than $6.7 million for child support, alimony and other debts. Football star owes $6.7 million, vs. $6.45 million in assets Makes $115,000 per month but still eligible for Chapter 7 bankruptcy Latest in parade of athletes filing for debt relief   Loophole in the Code Sapp, who played …

Extreme weather has wreaked financial havoc nationwide, including Spring wildfires burning throughout the country. Meanwhile, the traditional boundaries of Tornado Alley – Texas, Oklahoma, Kansas Nebraska and South Dakota — may be expanded to include 11 states in the Midwest and Deep South, because the frequency and severity of tornadoes in those areas is much more widespread than commonly believed. Click here to see the new map Banks are said to be stepping up with low-cost loans. What financial help …

The last thing consumer on the brink of financial ruin need is to be harassed about debt they can’t pay. According to the Federal Trade Commission, claims of debt collection harassment make up about 10% or 180,928 complaints of all issues brought to them in 2011, second on their list. And some of the people they’re trying to collect from are dead. What can consumers do? Tim Powderly of the Powderly Law Firm describes harassment activities: Contacting friends or family, …

   10 Things to Consider Before Filing for Bankruptcy Bankruptcy may seem like the easy solution to a messy financial problem. But people don’t always realize that bankruptcy is a complex legal issue. Learn the key factors to consider, from hiring a lawyer to gathering records, from paying the legal and filing fees to attending credit counseling. Find Out More…      Consumer Bankruptcy Poised to Climb in 2012 The number of consumer bankruptcy filings dropped in 2011, but experts expect …