When Can A Student Loan Borrower Contest A Tax Offset?

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Grounds To Fight The Government When They Seek To Take Your Tax Refund To Pay Student Loan Debt There are a number of Defenses that Student Loan Borrowers can use if the Department of Education or its Guaranty Agencies attempt to take your Tax Refund through a Tax Offset, in order to Collect on a Student Loan Debt Obligation. These Defenses Include: 1. Cases in which the Student Loan Borrower qualifies for a False Certification Discharge based upon Ability To Benefit, Unauthorized Signature, or Disqualifying Read More +

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 +

Seizure of Tax Refunds to Collect Student Loans

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The Federal Tax Refund Offset Program Unleashed! The Federal Tax Refund Offset Program involves a complete seizure of all tax refunds that are due to debtors who are in default on their student loans. The Program also permits the seizure of monies due debtors through Special Payments such as economic stimulus monies. The Federal Statute allows these offsets, even for debts that are being administered by or collected by, a third party, or private party, acting on behalf of the Federal Government. This same Federal Read More +

Cramdown of Mortgages on Principal Residences in Bankruptcy

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Argument For Allowing Debtors To Pay Secured Value Of Homestead Through Chapter 13 Bankruptcy For Debtors who file Chapter 13 Bankruptcy, the Bankruptcy Code permits them to Cramdown or pay only the Secured Value of Fair Market Value of an Investment Property or Non Homestead Property through the Chapter 13 Bankruptcy Plan. However, Bankruptcy Code Section 1322(b)(1) states the “plan may modify the right of holders of secured claims, other than a claim secured only by a security interest in real property that is the Read More +

Current Landscape of Loan Modifications and Foreclosures

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Resets May Lead To Higher Loan Modification Defaults By Jay Weller According to The Mortgage Monitor Report by Black Knight Financial Services for February, 2014, about 95% of rate reduction modifications are still facing resets. Although Loan Modifications have been declining for more than a year, Loan Modifications through the Home Affordable Modification Program (HAMP), a program under the jurisdiction of the Federal Housing Administration, have been increasing, largely because of modifications the FHA made to increase eligibility of Homeowners. Black Knight Financial Services claims 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 +

New Technology to Reduce the Chances of Credit Card Fraud

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How Do I Reduce The Chance Of Becoming A Victim Of Credit Card Fraud? By Jay Weller Although the Credit Card companies are generally behind the efforts of fraudsters in preventing Credit Card fraud, there are some things you, as a Consumer, may do to stymie the efforts of these miscreants. For example, Capital One customers can activate email or text alerts when such customers balances exceed a certain limit, when a transaction happens or the customer does not have sufficient funds in their bank Read More +

the Clampdown Begins on Payday Loans

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PayDay Loans Under Increased Scrutiny From Federal And State Governments By Jay Weller Pay Day loans, although easy to procure, usually carry with them extremely high interest rates and burdensome terms and fees. Often Borrowers are caught in a mire where they need to continually borrow from such Lenders to pay their essential bills. Recently, the Attorney General of Illinois, Lisa Madigan, accused on such Lender of misleading Borrowers who procured expensive loans that come bundled with insurance products that were not needed or useful. Read More +

Dim Prospects for Students with Student Loans

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Student Loans Increasingly Come With Lesser Returns And More Burdensome Debt By Jay Weller The Federal Reserve recently reported that less Consumer Loans have reached delinquency than in recent years. This trend is not true for Student Loans where delinquencies continue to climb, and Loans are made without consideration of a Student’s ability to pay. Beginning in 2003, the New York Fed has been examining files procured from Equifax to analyze the dynamics involved with Student Loans. Prior to 2009, young people with Student Loans Read More +

Social Security

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Social Security Law If you are in need of representation to assist with you any social security legal issue in the Tampa Bay area please contact us today so that we may further assist you. In general, Social Security benefits are Exempt from Creditors in the State of Florida, and the United States, but there are some exceptions where Social Security benefits are not Exempt, or protected from Creditors in the State of Florida, or protected from the Bankruptcy Trustee or Creditors, in Bankruptcy Proceedings. Read More +