Getting a Car After Bankruptcy
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Law Offices of John T. Orcutt
1d ago
Question: Can I get a car loan after a bankruptcy? The short answer is yes.  ..read more
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Credit Credit Card Debt Jumps 18.5% While Hitting $930.6 billion of Debt
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
3d ago
U.S. inflation and rising interest rates are a one-two punch for Americans struggling to make ends meet. On the heels of another rate hike this week by the Federal Reserve, credit card annual percentage rates are already near 20%, on average, and set to climb even higher. At the same time, more consumers are leaning on credit to afford increasingly expensive necessities, like food and rent ..read more
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Americans Have started to Lose Access to Cheap Credit
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
5d ago
The days of abundance are ending in the United States as consumer spending falters due to rising interest rates, persistent supply chain problems, and ongoing inflationary pressures. People just aren’t making enough money to continue buying things the way they once did, especially as cheap and easy credit becomes a thing of the past. Savings accounts are draining as consumers struggle just to make ends meet, and still the numbers are dismal ..read more
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Can My Gym Canceled Membership Balance Affect My Credit Score?
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Ed Boltz
5d ago
Gyms are a great way to get healthy, stay in shape, and take advantage of fitness classes. However, at some point, most people will want to cancel their gym membership. Many people cancel their memberships without issue, but some unscrupulous gyms make it difficult to cancel your membership. If your gym is giving you the runaround when you try to cancel, you might be tempted to refuse payment. You can remove payment information or cancel your linked cards to stop paying your membership ..read more
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Less Bills To Pay = More Money For Groceries
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by John T. Orcutt
1M ago
Out of control grocery prices gives you 2 reasons to file bankruptcy. "Too many bills to pay" has always been a great justification for filing bankruptcy. And why not?  Filing bankruptcy eliminates a ton of debt.  Credit card debt, medical bills, personal loans, vehicle repo and foreclosure deficiencies, etc. But now, unlike any time in our lives, you have a second reason to file bankruptcy: OUT OF CONTROL GROCERY PRICES ..read more
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Inflation Gives You 2 Reasons To File Bankruptcy.
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by John T. Orcutt
1M ago
"Too many bills to pay" has always been a great justification for filing bankruptcy. And why not?  Filing bankruptcy eliminates a ton of debt.  Credit card debt, medical bills, personal loans, vehicle repo and foreclosure deficiencies, etc. But now, unlike any time in our lives, you have a second reason to file bankruptcy: unrelenting INFLATION. As you know, all too well, inflation has reduced the purchasing power  of every dollar.  In just 2 years, your dollars now only buys 1/2 of what they used to buy ..read more
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Bankruptcy Shift Eases Path for Student Loan Discharges
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
1M ago
The Biden administration has created new measures for facilitating destitute borrowers' ability to discharge crippling federal student loan debt in bankruptcy, generating cautious optimism that much needed financial relief is now more accessible. The departments of Justice and Education on Nov. 17 announced a new process for bankrupt individuals to discharge student loan debt, wherein the agencies will be newly positioned to help underwater borrowers obtain relief. The government said the move will cut down on "unnecessarily burdensome and time-consuming investigations ..read more
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Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
2M ago
he Biden administration on Thursday released new guidelines that will make it easier for economically distressed student loan borrowers to discharge their student debt in bankruptcy proceedings. The new bankruptcy policy comes from the U.S. Department of Justice and the U.S. Department of Education, and allows federal student loan borrowers to prove that they’re experiencing financial distress requiring a fresh start. Under the rules, the agencies may recommend that a bankruptcy judge discharge a borrower’s student debt if they find their case warrants it ..read more
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Apply By November 15 for Student Loan Forgiveness
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
3M ago
President Joe Biden’s student loan forgiveness plan has been stuck in legal limbo for weeks. On Oct. 20, a district court judge threw out that case, but the six states appealed the decision. A separate federal appeals court is taking up the case but has not ruled on it. In the meantime, the appeals court granted a temporary stay, which is an order that blocks any loan forgiveness for the time being ..read more
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Appeals Court Freezes Student Debt Forgiveness Program
Law Offices of John T. Orcutt Bankruptcy | North Carolina Bankruptcy Blog
by Anonymous
3M ago
This past Friday, a federal appeals court put a temporary, administrative hold on President Joe Biden’s student loan forgiveness program, barring the administration from canceling loans covered under the policy, while the court considers a challenge to it. The 8th U.S. Circuit Court of Appeals granted an emergency stay barring the discharge of any student debt under the program until the court rules on the states' request for a longer-term injunction while Thursday's decision against them is appealed ..read more
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