Seizure of Tax Refund to Collect Federal Student Loans, Part Ii

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Notice Requirements Under Tax Refund Offset Program; Say What? By Jay Weller Under 31 USC Section 3720A(b), the Department of Education, through its Secretary, can refer a Debt for Offset only after having complied with certain procedures. The holder of the loan must mail written notice to the Borrower’s last known address, as determined by the Department of Education or the Guarantor. The Courts that have heard Notice Issue Cases, have ruled that Actual Notice is not required. The Collector must only use Reasonable Means Read More +

the Banks’ Stealth Campaign to Increase Overdraft Fees

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Bank Overdraft Fees At Record High By Jay Weller The average fee for Overdrafts, which is defined as withdrawing more more a checking account than a Customer has in their account, has been increasing to thirty dollars in 2013, an increase from twenty nine dollars in 2012 and twenty six dollars in 2009, according to an investigation by Moeb Services, Inc, of 2890 Credit Unions and Banks. The Federal Reserve in 2010 prohibited Banks from automatically penalizing Customers for Overdrafts. The Dodd-Frank Law of 2011 Read More +