Last night on the HBO show “Last Week Tonight,” host John Oliver forgave nearly $15 million in time-barred medical debt. He was able to do this after setting up a collection company and purchasing the debt for about $60,000. This debt portfolio and many more like it, is often called zombie debt, because it cannot be collected through legal action. Even though the debt obligation…
One week from today, after the leftovers and holiday shopping on Black Friday and Cyber Monday, we can all show our generosity by coming together in support of Giving Tuesday. For the first year MDRF will be participating, and we need your support!! Every dollar donated will make an impact in someone’s life right here in Massachusetts. Someone, just like…
October 25-31 is National Pro Bono week. All of us at the Mass. Debt Relief Foundation are proud to be a part of the pro bono community. In celebration of pro bono week, we’re going to begin recognizing the superheroes we are fortunate to help every day. In a series of bi-monthly blog posts we’ll share stories of clients who bravely…
Yesterday the New York Times reported that Bank of America and JP Morgan Chase have agreed to fix credit reports so debts discharged in bankruptcy are accurately reported as included in bankruptcy. The article states that “this move is a victory for borrowers whose credit reports have been marred as a result of the reported debts, imperiling their job prospects and torpedoing…
Filing bankruptcy can be a very daunting decision, but it is also a life-changing, positive tool that provides a true fresh start. After filing the collection agencies stop calling, there are no more court judgments or hearings to collect debts, wage garnishments must stop, and there is immediate relief from the constant stress and anxiety. For low income individuals, bankruptcy relief…
Although a bankruptcy discharge can provide a much needed fresh start, there is one type of debt that nearly always survives, preventing the true ability to start over: student loan debt. Under the current law it can be extremely difficult to discharge student loan debt in bankruptcy, and because the lenders usually fight tooth and nail to prevent the discharge, any…
It is important to know that for families living on a limited income, what would be a small setback for some can be devastating to others. This past month’s record breaking snowstorms have hurt many wallets across the Commonwealth, whether from losing hours at work, or from finding yourself with a much higher than usual heating bill. A recent Boston Globe…