finance

Over 40 states have already signed on to the sellout deal the corrupt politicians negotiated, so they could run for office beating their chests bragging about their tremendous accomplishment, with their mortgage company liege lords, who should have already started their prison terms, to get them off the hook for the greatest financial crimes in [...]

It is just a fact that the over one trillion (uh,  yeah, not billion, not hundreds of billions, trillion) dollars of student debt now outstanding in our fair land will not be repaid. Because the graduates will not generate sufficient income to pay it back. The jobs they were told were out there for them [...]

Debtor Education Course: Are Joe and Sally to Blame?

by Russell A. DeMott, Charleston Bankruptcy Lawyer

The debtor education course. It’s the second course required by the Bankruptcy Code–the ticket out of bankruptcy, at least if the debtor wants his discharge. I confess I’ve always wondered what my clients thought of the course. Calling it a “course” is a bit much.  It only takes an hour or two, and there’s not [...]

Student Loans In Bankruptcy

by Kurt O'Keefe, Attorney at Law

At least the graduate in the picture has a job.  Being that is involves wearing a chicken suit, it might not produce enough scratch to pay off his share of the more than $1 trillion dollars in student loan debt now owed in our country. The issue is on this site because now, more than [...]

What is Income for Bankruptcy?

by Russell A. DeMott, Charleston Bankruptcy Lawyer

Most of us have an idea of what income is for federal or state tax purposes.   Wages are income, as are gains on the sale of stock.  Dividends and interest also qualify.   We know that.  It’s intuitive and easy to understand. The classic definition of income is that it’s the return on labor or capital.  [...]

1.  Debt collectors are NOT under oath when they are talking to you.  There are restrictions on what they can say, but exagerration, saying what might happen if you do not pay, are allowed. 2.  They are not trying to help you!  They are not trying to work things out, come up with a plan [...]