Research and learn about debt relief programs before you select one. As you review debt relief options, you should consider: Bold claims Be wary of companies that make sweeping promises to resolve your debt without fully understanding your financial situation. According to theFederal Trade Commission...
Federal Debt-Relief Rules Stop False PromisesDear Action Line: What is the federal law on "debt relief" namedin the Dec. 26 Consumer Page?...Mulkins, Phil
Biden's decision to move ahead with $10,000 in student debt cancellation for borrowers who earn under $125,000 will cost the federal government around $244 billion, according to higher education expert Mark Kantrowitz. The $20,000 in relief for Pell Grant recipients may add aro...
After a debt is settled, it’s gone—the remaining balance is wiped clean. However, withunsecured debtssuch as credit cards, you risk having your account closed completely after the settlement is made because the lender will not want to continue to grant you credit. This, along wit...
If you’ve received a federal grant, you will be obligated to pay back that money as well. Researching and applying for scholarships takes time Let us do the work for you How Do I Make Sure I Don’t Run Out of Money? Your financial aid package is designed to cover the entire cost ...
It's also against the law to try and collect a debt relief fee before any work has been done.According to the Federal Trade Commission, the advance fee ban dictates that fees for debt relief services may not be collected until: The debt relief service successfully settles or changes the ter...
High-Interest Payday Loans: These loans may offer immediate relief but can trap you in a cycle of mounting interest and fees. Skipping Payments as a Strategy: Missing payments to prioritize other debts can lead to late fees and damage your credit score. ...
The VA provides this assistance free of charge and pays it directly to the creditor, so there are no costs associated with applying nor penalties accrued while under consideration for acceptance into the debt relief grant program. Under this program, qualified veterans may choose from several differ...
A federal appeals court has blocked the implementation of the Biden administration's year-old student debt relief plan, which would have lowered monthly payments for millions of borrowers. The Thursday ruling impacts theSaving on a Valuable Education, or SAVE, plan, which currently has about 8 ...
Borrowers who also got a federal Pell Grant could see $20,000 in their loans discharged. Six states with Republican governors sued to stop Biden’s plan to forgive debts, an action that led to the 8th U.S. Circuit Court of Appeals putting the plan on hold. ...