PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Delinquent student loans reach record high

The number of past-due student loans has reached a record high as recent grads struggle to make ends meet in a difficult economy, and some are turning to bankruptcy for relief.

2013-06-12
June 12, 2013 (Press-News.org) The student debt crisis is approaching fever pitch in the United States as more borrowers than ever before falling behind on their student loan payments, Bloomberg reported recently.

According to the U.S. Department of Education, 11 percent of student loans were at least 90 days past due at the end of 2012. At 90 days past due, a student loan is considered seriously delinquent. Today's delinquency rate is nearly twice that of a decade ago; in early 2003, according to the report, only 6 percent of student loans were past due by 90 days or more.

Economy compounds debt problems

In the aftermath of the Great Recession, the U.S. economy has remained sluggish, magnifying the financial distress of many recent graduates who are entering the job market with substantial debt. Two out of three college graduates leave school with some amount of debt, according to the Pew Research Center, and those with student debt owed an average of $26,600 apiece in the class of 2011.

Compounding the issue of student debt is the fact that nearly half of adults ages 25 to 34 say they are either unemployed or underemployed, according to American Student Assistance, a nonprofit organization that provides student loan education for college students and alumni.

Student loans and bankruptcy

Student loans are typically much more difficult to discharge in bankruptcy than other types of debts, such as medical bills or credit card balances. However, many people struggling with student debt are still able to find relief through bankruptcy by eliminating other debts, thereby making their educational loan payments more manageable.

In addition, while student debts are rarely eligible for discharge during Chapter 7 "liquidation" bankruptcy, educational loans are treated similarly to other debts during Chapter 13 bankruptcy, which is also known as debt reorganization.

During Chapter 13 bankruptcy, a person's debts are restructured and a payment plan is created that allows the borrower to pay off the highest priority debts over a period of a few years. For some people struggling with student loans and other debts, reorganization offers a way to catch up on missed payments and get back on track, while also protecting against foreclosure and other collection actions.

Seek legal help for debt problems

If you find yourself falling further and further behind on your debts, it may be time to discuss your situation with an attorney. A lawyer with a strong background in bankruptcy and debt relief law can advise you of your options and help you pursue the right course of action for your unique circumstances.

Article provided by The Law Offices of Neil Crane, LLC
Visit us at www.ctbankruptcyattorneys.com


ELSE PRESS RELEASES FROM THIS DATE:

As kids go back to school, Texas police step up school zone enforcement

2013-06-12
With the return to school each fall comes the increased need for Texas drivers to be aware of school zone traffic laws and be vigilant in observing them -- both to protect the safety of schoolchildren and to avoid the potential legal consequences of school zone violations in Texas. Texas drivers who violate school zone laws can face steep penalties, even if no accident results from the violation. And, as with any traffic violation or other offense, ignorance of the law is a poor defense. Therefore, it is wise for Texas drivers to be aware of school zones and familiarize ...

With student debt at record levels, many college grads have regrets

2013-06-12
The cost of higher education in the United States has grown so high, and student loans have become so burdensome, that one-third of millennials say their time would have been better spent working than going to college, a recent Wells Fargo survey found. For many graduates, debts are overwhelming In the survey of 1,414 people between the ages of 22 and 32, over 40 percent of respondents characterized their debt as "overwhelming," Forbes reported. As of June 2010, student loans have outpaced credit cards as a leading source of debt for the first time on record ...

Are injured volunteers eligible for workers' compensation benefits?

2013-06-12
Within the recent tragedy of the bombing near the finish line of the Boston Marathon, there are stories of selfless acts by volunteers that saved countless lives. The initial estimates of 170 injured have increased sharply to more than 280 as more people seek treatment for injuries they thought were minor - some of these people were likely volunteers who rushed to help others. Many have praised the response of volunteers, emergency responders and race participants for quick thinking in dealing with injuries and sending the injured to the right hospitals. Yet this raises ...

Side Effects of Statins Such as Lipitor, Crestor and Zocor

2013-06-12
Cholesterol-reducing drugs such as Lipitor, Crestor and Zocor are associated with a higher risk of developing Type II diabetes, especially in older women and those already at risk for developing the illness because of lifestyle factors or genetics. In addition, these drugs, known as statins, have also been shown to cause other serious side effects that include: Muscle problems: The Mayo Clinic reports that the most common side effect of statins is muscle pain. In addition to weakness and pain, statins have caused a much more serious muscle problem known as rhabdomyolysis. ...

Jeep SUVs and Commonsense Design

2013-06-12
As reflected in the National Highway Traffic Safety Administration's ("NHTSA's") June 3, 2013 letter to Chrysler Group, LLC ("Chrysler"), common sense ought to count for something in automotive vehicle design. And most of the time, it does. For instance, common sense and lessons learned from prior automobile designs dictate that an automaker should not place the fuel tank someplace where it's likely to get hit--because then the tank could be punctured, leak, and a fire could result. NHTSA's June 3, 2013 letter to Chrysler reflects how most automakers ...

Wrong Site Surgery (WSS)-Preventable Errors

2013-06-12
The Problem Wrong site surgery (WSS) includes surgery performed on the wrong side or site of the body, wrong surgical procedure performed, and surgery performed on the wrong patient. According to Dr. Mark R. Chassin, M.D., FACP, M.P.P., M.P.H, President, The Joint Commission, "Wrong site surgery is a rare event for individual surgeons or health care organizations. But when it does happen it is a devastating event that is often life altering for the patient who experiences it." Unfortunately, as noted by The Joint Commission, some estimates put the national ...

Certified Master Facilitator Database Company, FindaFacilitator.com, Offers Quality Guarantee

Certified Master Facilitator Database Company, FindaFacilitator.com, Offers Quality Guarantee
2013-06-12
Access to the Internet as well as the numerous portals of information and opportunity it contains are quickly reshaping the way private and business affairs are conducted all over the world. When someone from India can download an electronic book from a North American website and receive it almost instantly on his or her reading device, you know you are witnessing a radical level of commercial entrepreneurship. The wealth of information available on the Internet can be mind-boggling. FindaFacilitator.com is a website managed by Leadership Strategies, a successful professional ...

Eclipse Shutters Offers Offer Half-Window Applications with Plantation Shutters

Eclipse Shutters Offers Offer Half-Window Applications with Plantation Shutters
2013-06-12
When you are designing how you want your window coverings to look, it often seems that you only have two options: completely covered or not covered at all. Even when you open blinds or curtains, you always face some kind of covering left over. It can be difficult to find a window covering that offers you the perfect look. Eclipse Shutters, Atlanta's premier plantation shutter manufacturers, believe that you should be able to perfectly customize your window coverings to match your ideal vision for your home. To help its customers to bring their home decor ideas to life, ...

Recreate Afternoon Tea at Home with Goods from Gourmet Coffee and Tea Supplier, J. Martinez

2013-06-12
If you're looking for a unique idea for a get-together, why not invite your girlfriends over for an afternoon tea party? Since the 1800s, afternoon tea has been a British staple. A tea party can blend history, elegance and whimsy to create an enjoyable experience for everyone, including gourmet coffee drinkers. With specialty teas and the best coffee around from J. Martinez, your party will be a memorable one. The Tea Set If you do not already have a tea set, you can visit your local antique stores to acquire one. If you can't find a full matching set, pick up interesting ...

AgilQuest Introduces Smart Occupancy to Unify Real Estate and Human Capital Strategies

2013-06-12
AgilQuest Corporation has released the core concepts of Smart Occupancy, the philosophy and approach behind the solutions savings millions annually in office space at large companies and federal agencies without compromising employee satisfaction or productivity. Smart Occupancy applies the latest mobile technology, access control integration, and modern workplace expertise to balance the need to save on real estate and energy with the practical support needs of the workforce. This combination of "secret ingredients" has set AgilQuest apart from their technology-only ...

LAST 30 PRESS RELEASES:

New global index defines what makes digital economies resilient and inclusive

Biologist Scott Solomon named Piper Professor for excellence in teaching

New research analysis predicts that reductions in Medicaid access could result in poorer health outcomes, including increased deaths

Zinc-transporting protein contributes to aggressive growth of brain tumor, OU researchers find

AI system targets tree pollen behind allergies

$2.7 million NIH grant to fund first comprehensive syphilis test

Explaining the link between ‘good’ gut bacteria and rheumatoid arthritis

By 2030, 40% increase in tobacco-related coronary heart disease deaths anticipated

Exposure to extreme heat and cold temperature is leading to additional preventable deaths, new 19-year study suggests

Study marks rise in psychotherapy outpatient visits and declines in medication use for mental health care

May issues of APA journals feature research on better depression care, improving mental health in disaster-affected communities, school-based prevention efforts, and more

Press registration and scientific program now available for atomic, molecular, and optical physics meeting

A digestive ‘treasure chest’ shows promise for targeted drug treatment in the gut

New ASU-Science prize recognizing research focused on societal impact open for submissions

North American birds are disappearing fastest where they are most abundant

Males are more likely to get sick and less likely to seek care for three common diseases

Revealed: The geometrical “frustrations” that shape growing rose petals

Adaptation and sluggish gene flow cannot save mountain plants from climate change

A symbiotic gut fungus wards off liver disease in mice

Study shows how millions of bird sightings unlock precision conservation

Origins of common lung cancer that affects smokers discovered

Breakthrough provides new hope for patients with knee osteoarthritis

Shelters at bus stops intended to provide relief from heat can actually result in higher temperatures, UTHealth Houston researchers discover

With CCTA poised to transform PCI planning, SCAI/SCCT publish expert opinion document

GLP-1 studies add to growing body of evidence demonstrating significant benefit on cardiovascular outcomes

Alarming rise in cardiovascular deaths for those with obesity disproportionately impacting minorities and women

Rhythmically trained sea lion returns for an encore—and performs as well as humans

Study of facial bacteria could lead to probiotics that promote healthy skin

Racial and ethnic disparities in receipt of ERBB2-targeted therapy for breast cancer

Designer microbe shows promise for reducing mercury absorption from seafood

[Press-News.org] Delinquent student loans reach record high
The number of past-due student loans has reached a record high as recent grads struggle to make ends meet in a difficult economy, and some are turning to bankruptcy for relief.