The Debt Lawyers Blog
Publications on student loan debt, credit card debt, credit report errors and more.
Are Essential Workers Eligible for Loan Forgiveness?
The coronavirus pandemic has made it increasingly challenging for Americans to make their student loan payments. While essential workers have been on the frontlines of the fight to end the pandemic, there aren’t many healthcare-specific loan forgiveness programs that have passed through Congress. However, there are certain federal programs for...
Should You Take a Credit Card Loan to Pay for College Tuition?
Paying college tuition is a huge undertaking, leaving some people looking to credit card loans as a viable solution. Credit card loans remove some of the traditional barriers to loans, such as applications. Additionally, with a credit card loan, you can pay in installments and won’t need to provide a credit check. While this all sounds very...
4 Tips to Get Your Small Business Out of Debt
Taking on debt to launch your business can be a good thing—it can help you finance your company, buy more items, or expand your offerings. Things might be running smoothly for a few months or even years, but at a moment’s notice, sales can quickly decline, increasing your debt. You must remember that debt can cause a significant financial impact...
Are Student Loans Classified as Marital Debt?
It may seem odd to think about marital debt and student loans in the same context. After all, you might think that by the time a couple is considering getting a divorce, they would probably be free from student loan debt. However, that is not the case. Today, 45 million Americans have active student loan debt that often lingers for decades after...
Can Student Loan Debt Impact My Job Prospects?
Almost all college students have to take out loans to help pay for their education. It can often take years, if not decades, to fully pay off loans because of the high interest rates. Late and missed payments can severely impact your credit, and bad credit can harm your job prospects post-graduation. Many employers use a credit check to weed out...
Student Loan Statute of Limitations: Everything You Need to Know
As far as debts, such as student loans, are concerned, a statute of limitations refers to the amount of time a creditor has to pursue legal action for repayment. Once the statute of limitations expires, a creditor can’t sue you. However, this doesn’t mean that your student loan debt disappears. Your lender will likely continue to try to collect...
The State of Student Loans in 2020: Debt Hits a New Record
Student loan debt hit a new record of $1.6 trillion during 2020, affecting people of all ages, demographics, and occupations. Unfortunately, these numbers are expected to grow as college tuition costs at both the undergraduate and graduate levels continue to rise. With a highly dysfunctional job market and rising educational requirements, many...
Is It Smart to Use Your Savings to Pay Off Debt?
Having a nest egg of savings is a smart financial move. A healthy savings account can help shield you from unexpected expenses and any resulting financial hardship. It can also help you set and achieve financial goals, such as putting a down payment on a house or apartment. However, if you are sitting on a pile of debt, it might be a good idea to...
Bachelor’s Degrees That Pay Off Long-Term
With rising tuition costs and the increasing uncertainty of entering today’s job market, many students fear whether investing in a bachelor’s degree is worth the return. The high cost of education that falls on many households and families every year is overwhelming, leaving many students stuck with no other option but to seek financial aid....
