Parent Plus loans for those still in college?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
6d ago
We’ve received some repeat questions lately by parents whose children are still in college.  Basically, they are worried that there isn’t enough time to get a double consolidation done to get into SAVE. Here’s the rules: The loan does have to be fully disbursed. The post Parent Plus loans for those still in college? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more
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Weekend Student Loan Viewing – Last Week Tonight with John Oliver!
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1w ago
A little birdie told me that Sunday’s show will be about student loans.  I just watched the one last week on Boeing and it was really good!  Made me pretty happy not to own Boeing stock… Here is the Boeing story https://www.youtube.com/watch?v=Q8oCilY4szc You can watch/stream Last Week Tonight with John Oliver on MAX, Max Amazon Channel and Spectrum on Demand as well as HBO of course. With over 9 million views on the Boeing story, we are hopeful that this show on student loans will help raise awareness of the upcoming April 30, 2024 deadline to apply to consolidate the older federal ..read more
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FCRA Claims can be Brought Against Federal Agencies – New Feb 8, 2024 Kirtz Decision!
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1M ago
For those of you who are on the receiving end of credit dings due to federal agencies messing up your student loans, the recent Kirtz decision allows a consumer to sue a federal agency under 15 U.S.C. Sections 1681n and 1681o for defying the terms of the Fair Credit Reporting Act.  The history of this case can be found here:  https://www.scotusblog.com/case-files/cases/department-of-agriculture-rural-development-rural-housing-service-v-kirtz/ While the case itself dealt with some agricultural entity, it will apply to all federal agencies that seek immunity from wrongdoing under the F ..read more
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Taxable Forgiveness of Student Loans?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
1M ago
Remember, any private or federal student loan debt that is forgiven before December 31, 2025 is not subject to federal tax. Due to the American Rescue Plan Act of 2021 loans that are forgiven are not considered taxable income for federal income tax purposes. Since state and local tax implications will vary, we recommend you contact a tax advisor for more information. I’m working on a new blog about 1098s that we are hearing going out to borrowers for interest that is rolled into a consolidation or forgiveness under the Borrower Defense program.  That should be out in a couple days. The po ..read more
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Some Highlights of the Joint Spousal Separation Process and Application (available soon)
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2M ago
Finally!  Relief for Joint Spousal Consolidation Federal Student Loans Did you know that married couples were allowed to consolidate their debt under a program that existed from 1993 to 2006 which allowed a single monthly payment and often a lower interest rate.  But it meant that each spouse was 100% liable for the other spouse’s debt.  Moreover, borrowers who had these Joint Spousal Consolidation loans were often left out of most programs.  We’ve long known of the problems plaguing borrowers in this “One Way In, No Way Out” program. Borrowers were unable to sever the loan ..read more
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What if You Borrowed a Little More than 12k? Will You Receive Forgiveness of Student Loans?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2M ago
Good news: the Administration announced last week that in February, it will begin early implementing the SAVE provisions that provide cancellation of borrowers’ remaining balance in as few as 10 years of qualifying payments depending on the total amount originally borrowed. Borrowers enrolled in SAVE will have their remaining balance forgiven after 10 years of qualifying payments if they originally took out $12k or less in federal student loans, with one additional year of payments required for every additional $1,000 borrowed, up to a max of 20 years for those with only undergraduate loans, a ..read more
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Three Year Monitoring for Disability Discharge of Federal Student Loans?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2M ago
Lots of confusion out there regarding the three year monitoring.  The wage monitoring part of the three year monitoring went away, but NOT the three year monitoring as a whole.  What does that mean? Well, if the borrower returns to school and takes out federal loans, that could reinstate the forgiven loans if done within the post discharge three year period.  The 1099 (which may or may not actually be sent) is supposed to be sent out AFTER the three years are over.  This could render the forgiveness taxable under federal guidelines if done after December 31, 2025.  Con ..read more
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Maxed Out Credit Cards?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
2M ago
If you’ve decided it’s time to take back your life, we can help devise a debt escape plan with you.  This may involve making decisions about what to pay, what not to pay, how to settle and create a plan to get out of debt.  This includes student loan debt as well as credit card or other debt. There is not a one size fits all strategy.  There are many different kinds of debt.  Student loans, mortgages, car loans, personal loans, credit card debt, lines of credit and more.  It doesn’t make sense to use the same strategy on different types of debt.  Your income/healt ..read more
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Have Crypto Stuck in FTX’s Bankruptcy?
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
3M ago
FTX wants to pay customers back but based on crypto prices at the time of its bear market bankruptcy. So, not good. In paperwork filed on December 27, FTX proposed prices for around 500 crypto assets. This includes: Bitcoin at $16,871 The post Have Crypto Stuck in FTX’s Bankruptcy? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more
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Vocational Student Loan Debt Can Be Discharged in a Bankruptcy
Tampa Bankruptcy Lawyer Blog | Christie D. Arkovich, P.A.
by Christie D. Arkovich, P.A.
3M ago
Despite lots of changes in the landscape allowing the discharge of both federal and private student loan debt under the right circumstances, many people still believe that student debt survives a bankruptcy. Private loans follow very different rules then federal as you probably know. One thing I haven’t written much about are private loans for these vocational schools such as those for coding, helicopter, cosmetology etc.  If the school is NOT on the federal Title IV list for the years of attendance, those are dischargeable in a bankruptcy. The post Vocational Student Loan Debt Can Be Dis ..read more
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