Blog Posts in August, 2016

  • Wells Fargo Penalized For Private Student Loans

    || 29-Aug-2016

    The Consumer Financial Protection Bureau (CFPB) has charged Wells Fargo with engaging in illegal practices while servicing private student loans. Under a consent order, Wells Fargo will pay $3.6 million as a civil penalty, refund at least $410,000 to borrowers, and make improvements to their private student loan servicing policies. The CFPB alleged the following illicit conduct by Wells Fargo: ...
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  • Cancellation of Debt From A 1099-C

    || 25-Aug-2016

    Pursuant to the IRS, a debt exists if you borrow money and are obligated to pay back a determinable amount in the future. There are situations where debts are deemed cancelled for tax purposes, however, it should not be assumed that a 1099-C results in the borrower being relieved of their obligation to repay. What to do if you receive a 1099-C Don't panic! Provide the form to your certified ...
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  • Effects of Filing for Bankruptcy

    || 16-Aug-2016

    Bankruptcy can seem like an intimidating prospect when viewed from a distance. But when you get up close to it and work with a trusted bankruptcy attorney, some of the mystery will fall away and you will see it as the beneficial financial procedure that it really is. You should also be able to see the positive effects that a successful bankruptcy filing can cause. Three notable effects of filing ...
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  • Business Debt Settlement

    || 15-Aug-2016

    It’s no secret that to operate a small business, the owner needs access to money. Whether the business is a startup, in growth-mode, or is experiencing seasonal fluctuations, lack of capital can be a recipe for disaster. Business owners might seek financing through bank loans, SBA loans, lines-of-credit, credit cards, or even by taking a Merchant Cash Advance. Falling behind on business ...
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  • Relief From Surprise Medical Bills

    || 8-Aug-2016

    Are you seeking relief from surprise medical bills or emergency services? According to a study by NerdWallet, over 56 million Americans under the age of 65 will have trouble paying healthcare related bills, with medical debts being the biggest cause for filing for bankruptcy. Dealing with medical bills can be a daunting task, especially if they’re unexpected. Even if you are covered under ...
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  • Can You Change Your Mind After Filing for Bankruptcy?

    || 1-Aug-2016

    If you have filed for bankruptcy, there are various reasons why you may want to pursue the cancellation or dismissal of your case. Financial situations change and what may have been in your best interest at one time may no longer be the optimal route forward. Maybe you have unexpectedly inherited money, secured a new job, or were able to avoid a home foreclosure through alternative means. ...
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