The Debt Lawyers Blog
Publications on student loan debt, credit card debt, credit report errors and more.
What To Do After Noticing Fraudulent Activity On a Credit Report
What To Do After Noticing Fraudulent Activity On a Credit Report Consumer fraud is big business in the United States. In 2016, approximately 15.4 million people were impactedby fraud or identity theft. The money these thieves manage to take each year isn’t chump change. In 2016, they made off with over $16 billion collectively. So, the stakes are...
That’s A Lot of Debt!
“It was the best of times. It was the worst of times.” These famous opening lines from the Dickens classic, “A Tale of Two Cities,” described life during the 18th Century French Revolution, but are widely regarded as evergreen—enduring in their relevance throughout time. Today, in many ways, it is the best of times. Our phones fit in our...
In 2018, Which Student Loan Companies Received the Most Complaints?
The Consumer Financial Protection Bureau, or CFPB, releases a report each October that details the complaints submitted by consumers regarding student loans. Their latest report, from 2017, states its purpose is to“compile and analyze data on student loan complaints and make appropriate recommendations to the Secretary of the Treasury, the...
Which U.S. Colleges Will Give You the Best Return on Investment?
When choosing a college or university it helps to consider your time in school as a long-term investment. Will your school not only yield a great education, but also lead to a well-paying job and leave you with manageable student loan debt? As with other investments, you should weigh the risks (i.e. debt) and rewards (i.e. early career salary)...
Dealing with Merchant Loan Lenders
Debt settlement companies are not attorneys and should not be giving legal advice about debt. This is one of the many claims in a new lawsuit brought by Funding Metrics against 14 individuals and two companies, Decision One Debt Relief and Veritas Legal Plan. The plaintiff, Funding Metrics, is in the business of lending against the accounts...
The Impact of Student Loan Debt
Student loan debt is, for many individuals and families, a significant financial burden. The outstanding loan debt in the U.S. is $1.52 trillion, according to the LendEDU annual Student Loan Debt by School by State Report. Student loan debt is now the second-largest type of consumer debt, only behind mortgages. Individual borrowers from the Class...
Speedy Student Loan Repayment
Have you heard that large lump sum payments may be key to speedy student loan repayment? LendEDU recently completed a survey with their findings hitting exactly on that point. As LendEDU states in their article, written by Mike Brown, “The fun years of college, potentially made possible by student loans, inevitably lead to the not-so-fun years...
Public Servants’ Second Chance at Federal Student Loan Forgiveness
The Public Service Loan Forgiveness (PSLF) program was established in 2007 to provide federal student loan forgiveness to borrowers employed by local or federal government and certain nonprofit organizations. The loans must be Direct Loans from the federal government, including Direct Consolidation Loans. Eligible borrowers have to enroll in a...
CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH
A recent concern within the credit card industry is the growing number of “charge-offs” that are occurring at small banks. A charge-off is where a creditor declares that an amount of debt is not likely to be collected. This occurs when a consumer becomes delinquent on debt, which is usually six months of no payment. Although overall credit card...
