To the relief of many, the federal government recently extended the pause on student loan repayment, interest, and collections through August 31, 2022. The three month extension will provide additional time for borrowers to get ready for the resumption of their payments, thereby reducing the risk of delinquency and defaults in the future. Furthermore, the plan will allow all borrowers with paused accounts to start with a clean slate - existing delinquencies and defaults will be eliminated … [Read more...]
Archives for May 2022
What is Pre-Bankruptcy Credit Counseling?
Before filing for bankruptcy, individuals are required to complete a pre-bankruptcy credit counseling course. Courses are designed to help filers understand the bankruptcy process, its lasting effects, and provide filers helpful tips on how to avoid financial risk in the future. When meeting with your bankruptcy attorney to evaluate your financial situation and potential eligibility for chapter 7 or chapter 13 bankruptcy, he or she will provide you with information regarding pre-filling … [Read more...]