If you have bills that are a struggle to keep up with, or credit cards that never seem to decrease despite consistent payments, it may be time to make some changes to address your debt. This blog details some steps you can take to start assessing your financial condition and how to approach achieving your goals. Assessing Your Finances …
Under the CARES Act, many Americans will be receiving a stimulus payment very soon. The IRS started distributing the money last week. Who will get the check, and how much will you get? US Citizens and Residents with a social security number, who earned less than $75,000 in 2018 and 2019, and head of househoolds who earned less thank $112,500…
If you have been sued by a creditor for money, the most important thing to do is respond to the lawsuit. Never ignore a lawsuit or complaint because if you do, you will automatically lose! The next thing to do is to contact a lawyer to get a free consultation and see what your rights are. Many times, the creditor…
In this blog post in the student loan series, we will be talking about rehabilitation and consolidation for defaulted student loans. You default on a loan when you don’t make full payments on your loan for 270 days. There are very real consequences for defaulting on your loans, such as wage garnishment, liability for lawsuit, inability to receive further federal…
To officially kick of our blog series about student loan management options, we are going to discuss income-driven repayment plans. These plans are only available to people with qualifying federal student loans that are in good standing. If your loan is in default you are going to have to rehabilitate your loan before pursuing one of these plans. There are…
Here at DRF, we regularly get calls from people that are struggling with student loan debt. Many of them have not had the chance to learn about several very powerful strategies that can be used to manage and pay off their student debt. Because of this, we have decided to start a short blog series about these management strategies, who…
When you live and spend without following a budget, it can be easy to lose track of how much you are spending and what you are spending it on. Creating and following a budget can make it much easier to prioritize the things that money needs to be used for urgently, and to make sure you aren’t spending more…
Debt can be both confusing and scary, and while there are many people and organizations that will do their best to help, there are also some that see vulnerable people as a chance to make money. For someone struggling with the daily stress of living with debt, a TV ad that promises to solve your debt problem quickly for a fraction of what you owe may seem like a no-brainer. However, frequently the companies that provide these services overpromise and even lie about what they will be able to achieve.
Scammers, people trying to cheat money away from you, may pretend to be a debt collection agency that owns your debt to in order to convince you to send them money. Learn a couple of useful tips about how to identify them, and what to do if a scammer calls you.
At MDRF we work hard to ensure that every client is receiving the best possible representation, which includes filing the correct Chapter. ProPublica and The Atlantic published an eye-opening article about the practice in Memphis, of filing Chapter 13 bankruptcies when the client would have qualified for a Chapter 7, all to get paid. There are two main Chapters for…