Submitted by bhart on Tue, 01/21/2020 - 12:00
I read an article today by Reuters that in 2019 the richest 2100 people have more wealth than the poorest 4.6 BILLION people. But the rest of the article went on to say that worldwide women work 12 billion hours each day without pay or recognition. Both statements are a sad reflection of our current economic times.
Submitted by bhart on Tue, 01/07/2020 - 11:12
Students at ITT will be off the hook for $168,000,000.00 in student loans. As a result of a settlement with over 40 states and the Consumer Financial Protection Bureau ITT (which filed for bankruptcy and shut down its campuses) is ordered to stop collecting certain debts from former students. If you owe any debts to ITT I encourage to you check out the settlement approved by the court.
Submitted by bhart on Sat, 12/21/2019 - 14:01
The University of Phoenix has agreed to a $191,000,000.00 settlement with the Fair Trade Commission. The settlement is a result of allegations that students were harmed by false or misleading advertising. The University will pay $50,000.000.00 in cash for fines.
More importantly, many student loans ($141,000,000.00) will be FORGIVEN. If you attended the University of Phoenix between October 1, 2012 and December 31, 2016 you may be in the effected by this action and you should contact the University for further information.
Submitted by bhart on Tue, 10/23/2018 - 16:21
In some bankruptcy cases creditors are allowed to file a claim asking the court to allow them to receive a distribution from the bankruptcy. In order to do so, the creditor needs to fill out an official form and submit supporting documentation. Given the number of claims filed, not all claims are closely reviewed. Citibank used a process known as robo-signing where a computer filled out and signed the form. The Department of Justice conducted an investigation and concluded this procedure violated the bankruptcy rules.
Submitted by bhart on Wed, 08/26/2015 - 09:57
78,000 students have loans for attending colleges owned by Carinthian Colleges. Carinthian is a for profit company that operated a number of trade schools (Heald College, Everest and Wyo-Tech) and has now gone into bankruptcy. The U.S. Department of Education is planning to forgive some of the debts currently owed for student loans related to these colleges. At this point there is no indication that this action will be extended to any additional schools but perhaps it is at least a step in the right direction.
Submitted by bhart on Wed, 04/15/2015 - 09:15
Possible relief for students may be on the horizon.
Submitted by bhart on Tue, 02/24/2015 - 08:23
With the cold winters and hot summers we have here in northern Illinois, topped with some fairly high utility rates, it is no wonder that our utility bills are high. It is easy to fall behind, and while we can try to lower our consumption, living without gas and heat in this climate is not a feasible option. It is quite common for my clients to owe past due gas and electric bills. So what, if anything, can be done about them in a bankruptcy?
Submitted by bhart on Thu, 10/02/2014 - 06:01
It should come to no surprise that I am not a fan of large banks. I find their credit card policies and their mortgage dealings to be less than open, honest, and fair. This opinion comes from over two decades of dealing with them, watching their political influence, their profits, and how they treat customers especially during their “loan modification” programs.
Submitted by bhart on Wed, 10/01/2014 - 07:17
What is a “short sale” and will it help me?
This is a question I get asked a lot. Let me explain what a short sale is, and then we can discuss if it could be an option for you. So, that is a short sale in a nut shell. Is it right for you? I don't know. There are other advantages and some consequences of a short sale beyond the scope of this blog. Each situation is unique and must be looked at individually, but let's look at the basic concept.
Submitted by bhart on Tue, 07/08/2014 - 08:53
What is the difference between Chapter 7 & Chapter 13 – General Overview.
While the U. S. Bankruptcy Code has several chapters (types) of bankruptcies, there are generally only two types that are applicable to most people.