Tuesday, March 20, 2012

The Senate Addresses the Student Loan Crisis

The Senate Judiciary Subcommittee on Administrative Oversight and the Courts is holding a hearing this morning entitled “The Looming Student Debt Crisis: Providing Fairness For Struggling Students.”  You can view the webcast HERE.

Friday, March 2, 2012

$5 Credit Counseling

Consumer debtors are required to obtain credit counseling from a qualified non-profit agency before filing bankruptcy.  This counseling requirement was imposed by the 2005 amendments to the Bankruptcy Code, and in practice only seems to impose a costly hurdle to people who are otherwise destined to file bankruptcy.  Locally, the cost of such a class can be as high as $90 for a married couple.  A more affordable alternative is the pre-bankruptcy counseling provided by The Tides Center.  They only charge $5 per person: consumerbankruptcycounseling.info