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April 2014 Archives

Illinois House asks Congress to get a clue about student loans

If you are one of the many Americans struggling to pay off student loans, you may know how frustrating it can be to find a solution. Very few resources are available to borrowers, because student loans are not treated the same way other unsecured debts are. You can negotiate with your credit card company or medical provider, or you can discharge the debt in bankruptcy. Not so with student loans.

Chapter 7 and the IRA exemption: Whose retirement is it, anyway?

Bankruptcy is supposed to offer you a fresh start. The idea of bankruptcy is to clear the decks, really, to stop the collections calls and to let the bankruptcy trustee and the court deal with the creditors. In a Chapter 13 repayment plan, the debtor pays the trustee who then pays the creditors. In a Chapter 7 liquidation plan, the trustee liquidates the debtor's nonexempt assets and pays off unsecured creditors; secured creditors, say the finance company that gave the debtor his car loan, must ask the bankruptcy court for permission to repossess the collateral, in this example the car.

In a perfect market, home prices, foreclosure rates are stable p2

We are discussing the real estate market's recovery -- the very slow recovery that industry analysts say is a better sign than a rapid rise to the boom's height of heights would be. The market soared, but it got too close to the sun. The market meltdown was inevitable; the financial crisis just sped up the process.

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