Author Archives: Jay Butchko
The Department Of Education Will Discharge The Student Loans Of More Than 300,000 People With Permanent Disabilities
More than half a million people in the United States have permanent disabilities and also owe money on student loans. Approximately 365,000 are eligible to have their remaining loan balances discharged, a number of borrowers approximately equal to the population of Pittsburgh. More than half of those borrowers have already defaulted on their loans. … Read More »
WARN Notices: A Canary In A Coal Mine For Strategizing About Debt Repayment
There is nothing quite like the feeling of panic you feel when you find out that your position is being eliminated, but the dread you feel when you find out bad news about your local economy, even if the piece of news does not directly affect you, is not pleasant, either. Instincts can be… Read More »
Are Secured Credit Cards The Answer To Your Debt Problems?
The more money you have, the more you can borrow. This makes sense from a lender’s perspective, because someone who has plenty of valuable assets is more likely to be able to pay you back. From the perspective of someone who can only afford to purchase a house, car, or other expensive but necessary… Read More »
How Scary Is It That Facebook Is Launching A Debt Collection Program?
Facebook has been making people feel worse about themselves for going on twenty years now. It started out as a forum for college students to pass judgment on each other’s physical appearance in terms that school-sponsored publications do not allow. Facebook was the original homeland of the humblebrag, where people show off purchases that… Read More »
How To Avoid Student Loan Forgiveness Scams In Pennsylvania
Given that the cost of university education has skyrocketed since the time the current generation of college students was born, while an increasing percentage of well-paying jobs require a bachelor’s degree, plenty of debt-ridden graduates would venture to say that student loans are a racket. Some outspoken journalists would make a similar claim about… Read More »
You Guessed It: Medical Debt Is The Leading Cause Of Bankruptcy
You might have a coworker who, given the opportunity, will grouse about her ex-husband who declared bankruptcy right after they divorced, and she thinks he only did it to reduce the amount of child support he would have to pay. After she filed for divorce, Mr. Wonderful bought a fancy new car and traveled… Read More »
Why Do Creditors Sell Your Debt?
When you get a call from a collection agency, it is natural to react by saying something like, “Who do you think you are? I don’t owe you money!” The more you think about it, the more infuriating it is. There are businesses the entire purpose of which is to harass people about debts… Read More »
Should You Negotiate With The Original Creditor After A Collection Agency Contacts You?
Collection agencies ask you all kinds of intrusive questions about your finances, but they are usually not especially forthcoming about how your debt became their business in the first place. There are several ways that a collection agency can get the right to seek payment of a debt from you. The trouble is that… Read More »
Philadelphia Home Contractor Allegedly Absconds With Victim’s Security Deposit
When you hire a contractor to make repairs to your house, you should first ask them to show proof of their licenses and insurance; if you hire an uninsured or unlicensed contractor, you face an uphill battle in getting your own homeowner’s insurance to pay for any damage the incompetent contractor causes. It is… Read More »
5 Ways To Make Your Parent PLUS Loan Balances Shrink Or Disappear
The business of selling a “college experience followed by a lucrative job” dream to prospective students and their families is a huge industry. Students are not the only ones whose dreams are dashed once the student loan bills begin arriving. Parent PLUS loans are among the most insidious types of student loans. Most applicants… Read More »
