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Why You May Want to Refinance Your Student Loans

Student loans have become a hot topic in the United States of late.  Many feel overwhelmed by the term and size of their loan(s).  Some are trapped in sky-high interest rates and they believe this is permanent.  Unfortunately, in some cases, this is true, but in a lot of cases, student loans can be refinanced.  There may not be a better time to explore this option than right now.

Puerto Rico’s Ongoing Debt Restructuring Battle

Puerto Rico’s government is in significant financial disarray.  The country’s finances and fiscal policy are controlled by separate entities that cannot agree on what is best for the country.  The government is more than $123 billion in debt, and the country lacks the infrastructure to climb out the hole.  The citizens are shouldering much of the burden of the country’s bad fiscal management.

The New York City Taxi Driver Bankruptcy Crisis

When someone thinks about New York City, taxi cabs are often part of the mental image. What most people do not realize is that drivers and/or taxi operators must purchase the right to drive in NYC.  A “taxi medallion” is often purchased by investors or the drivers themselves.  These medallions are treated similarly to a stock.  The value goes up and down, but the market is much less regulated.  Over the last 20 years, drivers have been duped into terrible loans required to purchase their medallion and bankruptcies are on the rise.

The Realities of Debt Settlement

If you find yourself in a large amount of credit debt, the idea of using a debt settlement company to help you get out of the red may sound like a good idea. They make it seem like they are there for you and will work with you to manage your debt balance. In some cases, using a debt settlement company can be a good option, but make sure to know what you are getting yourself into before you make that choice. Credit card companies normally are just as willing to work with you even if you owe large sums, as it is ultimately in their best interest for you to be able to pay back as much of the balance as you can.

Nationwide Foreclosure Rates Are Down

CoreLogic Chief Economist Dr. Frank Nothaft’s most recent press release has revealed that the share of home mortgages in foreclosure has officially dropped to the lowest level it has been in the past twenty years. Already well below the average pre-crisis level of 6%, the United States went from sitting at 4.9% in January of 2018, down to 4% in January of 2019. This drop has been reflected across all delinquency rates and is indicative of a dramatic increase in stability since The Housing Market Crash of 2007. 

Bankruptcy Fee Hike Policy Challenged

If you own a company and have had to file for bankruptcy from 2017-2019, you maybe be interested to know that a court case has been filed against the fees implemented by the federal government. These extreme fee hikes are in effect in every state except Alabama and North Carolina, which may strengthen the unconstitutional label the court case is trying to attach to the federal government’s actions.

What to Do If You Need a Tax Extension in 2019

There are plenty of reasons you may need a tax extension this year which, in general, the government will accept unless there’s an extraordinary circumstance. However, there are a few important things to keep in mind if you’re going to take that route. After weighing some of the pros and cons, there are things you need to know should you choose to file for a tax extension this year.

The Collapse of WOW Air

WOW Air was an Icelandic Airline company that breathed its last breath on the 29th of March 2019. It started back in 2011 as one of the most successful low-cost airline companies providing cheap flights between Iceland and Europe. However, what caused the demise of the apparently successful company was its wish to transform into a more prominent global business.

Are Changes on the Horizon for the FDCPA?

The FDCPA has been instrumental in the protection of consumers from predatory debt collection practices.  However, it is over 40 years old and many believe it is time for an update.  There has been a minor change or two in the last 4 decades, but nothing that addresses the newer business practices of debt collectors.  Now, creditors and collectors have the internet which gives them access to just about anyone at just about any time.