Navient, a student loan giant, may be adjusting their policy in to offer some relief to those struggling to pay off student loans. A judge in Texas recently denied their request to dismiss a class action lawsuit accusing the company of illegally collecting on loans discharged in bankruptcy. In an email, a spokesperson for Navient […]

Recently, the Education Department announced that it will be reviewing their policy regarding when borrowers can discharge student loans. This is a sign that soon, it may be easier to expunge loans in bankruptcy. The department is looking for input from the public regarding undue hardship claims made by student loan borrowers. The Education Department […]

Most people believe they’ll financially secure by the end of their career.  Unfortunately, this isn’t always the case. More retirees than ever are filing for bankruptcy. According to a study from Debt.org, people aged 55 and older account for 20% of total bankruptcy filings and many of these individuals are considered financially responsible. That figure […]

Chris Simon, formerly an enforcer in the NHL, recently filed for bankruptcy. According to Simon, he is in a debt of more than $500 thousand. Throughout his 20-year hockey career, Simon earned about $15 million. In an affidavit submitted to the Ottawa court system, he stated that his earnings are now depleted. The half million […]

According to an article in Market Watch, recent policy changes by Navient, a massive student loan lender, may result in more available paths to discharging student loan debt for those who have filed for bankruptcy. During an ongoing class-action lawsuit against the company, Navient has agreed to cease aggressive collection attempts, like calling relatives and employers of […]

Market Watch reported that 2016 saw the largest hike in American household debt in more than 10 years. Thanks to auto loans, student loans, and mortgages, total household debt reached $226 billion by March of 2016. Today, household debts are $99 billion away from the all-time peak, $12.7 trillion, which occured in the third quarter of […]

UPDATE as of Feb. 16, 2017–Statesmen published an update regarding former NBA player Vince Young’s file for chapter 11 bankruptcy. During the second week of February, 2017, Young’s lawyer filed a petition for Young in a Houston federal bankruptcy court. Young has assets between $500,001 and $1 million, while his liabilities are between $1,001,000 and $10 million. […]

Just after you file for bankruptcy, it may seem impossible to start rebuilding your credit. While the process certainly isn’t easy, you can get through it with some due diligence. Yes, you will initially have to pay higher interest rates when borrowing money. However, you will soon be much better equipped to handle your finances. There […]

After a string of restaurant closures, celebrity chef, Luke Palladino, filed for personal bankruptcy protection Sept. 7, the Inquirer reported. His most recently shuttered restaurant, located at the Jersey Shore, closed over Labor Day weekend. Prior to that, he shut the doors of Palladino’s on Passyunk, a critically acclaimed Italian eatery in Philadelphia. An Inquirer reporter […]

A recent CNN article profiles Kim Perell, the President of Amobee, a multimillion dollar digital marketing firm. At the start of her career, Perell experienced a roadblock due to the bankruptcy of the company where she worked her dream job. In 2002, Perell was sitting at her in-laws’ kitchen table, brainstorming ideas on how to transform […]