Money Management

  • Understanding the Grace Period

    August 25th, 2014 | Money Management Student Loan Grace Period

    Congratulations, your hard work has paid off and you’ve graduated from college! Now comes the next task of beginning your career, followed by saving up for and paying off your student loans. Thankfully, loan companies understand it may take you a while to get on your feet and to be able to start making payments, […] […]

  • Getting out of Default

    September 7th, 2014 | Debt Relief

    For Oregon and Washington student loan debtors, there are just two routes to getting out of default– consolidation and rehabilitation.   You can only use each of these options only once, so it is best that once you are out of default, you do not default again. In a consolidation, you pay off the defaulted loan […] […]

  • Administrative Wage Garnishments

    September 13th, 2014 | Money Management

    Once you are in default, the federal government can garnish your wages immediately without filing a lawsuit. Under both the Debt Collection Improvement Act (“DCIA”) and the Higher Education Act , the U.S. Department of Education is, upon default, authorized to take up to 15% of your disposable income via administrative wage garnishment. Unfortunately, disposable […] […]

  • Refund Intercept

    September 16th, 2014 | Money Management

    For many families in Washington and Oregon, the yearly tax refund is often the difference between making it and not making it. For families with an earner with defaulted student loans tax time is pretty perilous. Once you are in default, the Department of Education can take your tax refund and, yes, they can even seize EIC. Before the […] […]

  • Consequences of Default

    October 6th, 2014 | Money Management q6

    It can be stressful to fall behind on bills, especially when you’ve worked to hard to get a degree and have a successful career. Most of us struggle to keep up with our expenses at some point, and fortunately you can fall behind on student loan payments for quite some time before the loan goes […] […]

  • Curing Default

    October 13th, 2014 | Money Management q7

    It can be difficult to keep up with all of your responsibilities and payments as you’re beginning your career after college. If you get behind on student loan payments, you have some time before the loan actually goes into default Delinquency vs. Default. In fact, you have nine whole months to make a plan and […] […]

  • Bankruptcy Solutions: Undue Hardship

    November 3rd, 2014 | Money Management ưs

    When you graduate from college and begin your career, your student loan payments may be manageable, especially if you’re able to get into a payment plan that’s based on your ability to pay. Basic income based plans. But as life progresses, you may acquire more debt or have to deal with other financial challenges such […] […]

  • Bankruptcy Solutions: Minimal Standard of Living

    November 10th, 2014 | Money Management bg

    After finishing college, many people are ready to move on to their successful career and put their “starving student” days behind them. Unfortunately, finishing school also means you’ll need to start paying on your student loans, which can become a burden. There are many payment plans available Extended and Graduated Payment Plans that can make […] […]

  • Bankruptcy Solutions: Persistent Circumstances and Good Faith Efforts

    November 17th, 2014 | Money Management er

    People pursue a college education in hopes of building a financially successful and secure future. Higher education is absolutely necessary in order to be competitive in today’s work force, but having a degree doesn’t guarantee that your future will be free of struggles and unexpected circumstances. Changes in the economy and even personal challenges can […] […]

  • Bankruptcy Solutions: Good Faith Efforts

    November 24th, 2014 | Money Management dfg

    When you graduate from college with student loans, you know they will need to be paid back and that the payments will continue for some time. Most of the time, payments are manageable, especially if you use a payment plan that is based on your income. But sometimes, due to circumstances beyond your control, the […] […]