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What is Student Loan Forbearance and Deferment?


by Staff Writer on September 20, 2017  0 Comment

What is Student Loan Forbearance and Deferment?
Understanding student loan forbearance and deferment is critical for every student loan holder. The U.S. Department of Education does not want anybody to default on his or her student loan. To help you avoid default, the department has two programs designed to keep you out of trouble - deferment and forbearance. Many people get these programs confused because they essentially do the same thing - pause your loan payments. But there are some critical differences that you must understand before you apply for one of these programs. What is Student Loan Forbearance? Forbearance is a temporary pause in Federal Family Education Loan (FFEL) and direct loan payments. This includes persons who cannot work because of health problems or disability, and ...

What Can I Do About Private Student Loan Debt?


by Staff Writer on September 18, 2017  0 Comment

What Can I Do About Private Student Loan Debt?
Private student loan debt can be a huge problem. These debts cannot be discharged through bankruptcy, and to make matters worse, private student loans are not eligible for income driven repayment or forgiveness options like federal student loans are. Unfortunately, many people do not realize how hard it is to pay off a private student loan because of the false and misleading promises made by some for-profit colleges. Some of these colleges push private student loans on their students because they receive more money from them than federal student loans. What To Do About Private Student Loan Debt? Students with private student loans have several options. Not all of these options are right for every student, but most people can ...

Debt Settlement for Private Student Loans


by Staff Writer on September 14, 2017  0 Comment

Debt Settlement for Private Student Loans
Settling private student loans is possible, but it may not be as easy or as quick as you may expect. Despite the difficulty, it is always a good idea to try and settle private student loans because they cannot be settled via bankruptcy. A settlement will probably be your only option if you are having trouble paying off your student loan. What is Debt Settlement? Debt settlement means that you work with the lender to find a way to get the loan paid off. Lenders prefer debt settlement because it means less cost, less hassle and less paperwork for them. Most private student loans involve settlements where the payment of a lump sum that amounts to less than the original ...

What Are All Your Debt Relief Options?


by Staff Writer on September 08, 2017  0 Comment

What Are All Your Debt Relief Options?
Debt seems to be the one thing that Americans have in common. Almost everybody, from the working poor to multi-billionaires, has accumulated a staggering amount of debt they need to pay off. But people often struggle to do so because they are unaware of all the debt relief options available to them. Americans have amassed $1.3 trillion in student debt alone, with 44.7 million people owing an average of $37,172, according to the Federal Reserve. But this is just the tip of the iceberg; U.S. households owe $1 trillion on credit-card and auto loans. Not surprisingly the average American household owes $132,529 in debt, an amount that has increased by 11% (or $14,578.16 per household) over the past 10 years. ...

How to Stay Ahead of Your Debt Obligations


by Staff Writer on September 06, 2017  0 Comment

How to Stay Ahead of Your Debt Obligations
One of the biggest threats to average Americans’ economic future is uncontrollable debt obligations. The average American household owes close to $140,000 in debt, U.S. consumers are now $3 trillion in debt, and $1 trillion of those obligations consist of credit card bills. Sadly, many frugal and responsible people find themselves overwhelmed with debt obligations. Often because of circumstances beyond their control such as job loss, pay cuts, bad health, business failure, divorce and just plain bad luck. Many of these people end up using 25% or more of their income to pay off debt. This often leaves them with little money to pay for essentials like food, and no savings to deal with emergency expenses such as car repairs. ...

What is a Debt Management Plan? How Can It Help You Reduce Debt?


by Staff Writer on August 30, 2017  0 Comment

What is a Debt Management Plan? How Can It Help You Reduce Debt?
Are you tired of having your life interrupted by creditor phone calls? Have you disconnected your phone to avoid dinnertime interruptions, only to face threatening letters in the mail? If you can’t make the monthly payments and you are tired of watching interest and fees cause your balances to rise, you have several options. One choice many people consider is a debt management plan (DMP). Whether you face student loans, medical bills, or simply mounting credit card debt, many people today are in over their heads with unsecured debt. What Is a Debt Management Plan? When you sign up for a debt management plan, you can work with a credit counseling agency or organization to help get control of your ...

IRS Programs to Reduce Tax Debt – IRS Fresh Start


by Staff Writer on August 18, 2017  0 Comment

IRS Programs to Reduce Tax Debt – IRS Fresh Start
Owing the IRS is probably one of the scariest situations for an individual to be in. Fortunately, they offer ways to reduce tax debt. If you seek tax relief help and you don’t avoid attempts by the Internal Revenue Service to communicate with you regarding your debt, you could be in for a (good!) surprise —and substantial savings on your tax debt. Not all tax relief programs help reduce tax debt in the same way. Let’s look at the good and bad of tax debt relief so you can work effectively with a tax relief company to resolve your back taxes, perhaps even reducing your debt so you can start to pay it off. 1. The IRS Fresh Start Program ...

Public Student Loan Forgiveness


by Staff Writer on August 16, 2017  0 Comment

Public Student Loan Forgiveness
Believe it or not, there is a way that you can erase your student loan debt by serving your country and your community. Public Student Loan Forgiveness programs (or PSLFs) allow individuals to get out of some student loans by working for the government or certain non-profit organizations. The good news is - you can qualify for PSLFs by working at any local, state or federal government job. The bad news is that not every student loan is covered by the program. You will also have to wait 10 years and make 120 qualifying loan payments to achieve total debt forgiveness, so it is not an immediate solution. But student loan forgiveness programs are still a really good deal for ...

Learn All About Income-Based Repayment Plans for Student Loans


by Staff Writer on January 18, 2017  0 Comment

Learn All About Income-Based Repayment Plans for Student Loans
Image via Flickr by LaMenta3 Whether you have one student loan or many, you may be able to take advantage of an income-driven student loan repayment plan for loan management. Income-based repayment plans offer some of the best options for borrowers with relatively low incomes, but these plans aren't for everyone. Find out which borrowers and which loans are eligible for income-based repayment plans and learn how these plans compare with income-driven repayment plans for student loans. What Are Income-Based Repayment Plans for Student Loans? An income-based repayment plan, or IBR for student loans, is one of the many options that the U.S. Department of Education offers. This federal student loan repayment program is designed to make your loans easier ...

When And Why Would You Need An IRS Tax Attorney?


by Staff Writer on December 14, 2016  0 Comment

When And Why Would You Need An IRS Tax Attorney?
Your tax bill has arrived. But, as they say, you can’t get blood from a stone. You simply can’t pay. This is when you need an IRS tax attorney to help you navigate the complex landscape of tax laws and court revenue rulings. Perhaps the interest, fees, and penalties have mounted to the point you can’t even fathom your tax bill. Or maybe your circumstances changed, the money you earned is long spent, and you can’t pay the taxes you owe on past income. Maybe you’re a new business owner who vastly underestimated your earnings and, as a result, your estimated quarterly tax payments. Whatever your individual circumstances, you are probably scared, sick with worry, and concerned about your financial ...

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