Law Advices and Legal Tips

Posts Tagged ‘Debt’

In the old law, which the nonprofit companies granted student loans were not taxable, unless the debtor could show undue hardship. Under the new law extends this rule to all student loans made by non-profit or commercial entities.

To release your student loans on the basis of undue hardship, you must submit a separate act of bankruptcy court and get a court order in your support of this concern. Normally, that an act releasing an student loan debt includes services of a lawyer. Although it is also possible to do it yourself if you’re willing to put in your time and effort. Read the rest of this entry »

How to Write a Letter of Debt Negotiation

If you have taken the decision to negotiate a debt instead of hiring a lawyer or a debt consolidation company to work for you, here are some tips and steps to get started. Remember that creditors are not legally obliged to help, but if you prepare your case and have money in the bank to achieve a settlement, creditors may agree to negotiate with you. You should investigate the terms and conditions of its debt. Know the fees, surcharges, taxes and interest rates that apply. Annual rates of processing may be associated with the debt. Read the rest of this entry »