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

Unpaid student loan debt increasing

A fair number of New York residents are familiar with student debt. Recent data shows that many individuals are currently behind on student loan payments.

2013-02-16
February 16, 2013 (Press-News.org) Unpaid student loan debt increasing

Article provided by Nathan Erlich, P.C.
Visit us at http://www.erlichpc.com

A fair number of New York residents are familiar with student debt. Recent data shows that many individuals are currently behind on student loan payments. According to the Federal Reserve Bank of New York, 11 percent of student loan balances are 90 or more days past due. Last quarter the rate was only 8.9 percent, and the quarter before that was 8.7 percent.

The current number of people behind on their student loan payments is the highest it has ever been in the United States. The amount of student loan debt now outnumbers debt from items such as mortgages or credit cards.

Unfortunately, the problem is expected to get worse. In 2010, student borrowing reached $100 billion. Additionally, total unpaid loans reached $1 trillion in 2011. According to the National Association of Consumer Bankruptcy Attorneys, these unsettling figures may mean that student debt is the focus of the country's next financial crisis.

Student loan debt is generally not dischargeable in bankruptcy

Student loans are generally not dischargeable in bankruptcy. In the mid-1970s, this was not the case, but Congress changed the law in 1976 after receiving reports of new doctors and lawyers taking advantage of the law to eliminate hefty debts. The law has become stricter throughout the years, and now applies to private student loans as well. The only exception to the law is for people who suffer an undue hardship. However, according to a majority of bankruptcy attorneys, undue hardship is extremely difficult to prove.

Federal judges commonly use the Brunner test to determine undue hardship. The Brunner test considers the following factors:
-Whether a current budget allows for minimal living expenses

-Whether a good faith effort was made to pay the loans

-Future ability to pay the loans


In determining whether a good faith effort was made to pay the loans, judges analyze job-hunting efforts, earning potential and living expenses. Future ability to pay loans is hard to predict because of the uncertainty involved.

Financial tips for individuals with student loan debt

Saving money and planning for retirement are two key steps young people can take to help ensure a stable financial future. Most employers offer retirement plans and regularly add a certain sum to a retirement fund if employees match the amount. It is a good idea for people to take advantage of this opportunity.

Target date retirement funds are an ideal option for those with little investing knowledge. Individuals who invest in these funds enter a presumed retirement date, and the funds automatically invest more conservatively as this date approaches. This decreases the risk of losing a significant sum of money due to a risky investment when nearing retirement.

Additionally, it is important for everyone to learn the difference between good and bad debt. Any debt with an interest rate lower than what could be earned by investing is good debt. Fortunately, student loans are often considered good debt, while credit cards are typically bad debt.

Finally, pay attention to credit reports. Order free copies online, and correct any errors or discrepancies. A good credit score increases the chance of being able to purchase a home in the future.

An individual struggling with student loan debt can benefit from speaking to an experienced bankruptcy attorney. Even though student loan debt can usually not be eliminated, a bankruptcy can eliminate most other types of debt, which could make student loan payments more manageable. The attorney can provide knowledge and guidance and assist with developing a solid financial plan.


ELSE PRESS RELEASES FROM THIS DATE:

Landau Eugene Murphy Jr. Comes To Charleston Municipal Auditorium Saturday April 6TH To Headline Spring Fling Concert

2013-02-16
Landau Eugene Murphy Jr., the Logan West Virginia resident and landslide winner of NBC's hit television show America's Got Talent, will perform his first ever concert at the Charleston Municipal Auditorium Saturday April 6th at 7pm. Murphy's only scheduled Charleston area public performance in 2013 is a benefit for the Community Music Association and Junior Achievement of West Virginia. Tickets are on sale now just in time for Valentines Day gift-giving at the Charleston Civic Center box office, via telephone at 1-800-745-3000 and at http://www.ticketmaster.com/event/16004A459737389F. ...

A Christmas Gift That Keeps on Giving from Integrated Agency - Targetbase

2013-02-16
Instead of the usual extravagant chocolate boxes and end-of-year long lunches, Targetbase Integrated invited existing and potential clients to a digital marketing and social media seminar, Sharing Strategies, Getting results from social media, which they are hosting in Sydney on Thursday 21 February 2013. Defying the tradition of lavishing expensive gifts on clients at Christmas, integrated agency Targetbase said thank you at the end of 2012 in a far more meaningful way. The drawcard for the event is guest speaker Laurel Papworth (laurelpapworth.com), author of Social ...

Phoenix SEO Firm PrimeView is on Top of the Google Panda Update

2013-02-16
It has the capacity to build and maintain high-quality websites that assist clients to better search engine rankings. Just recently, Google made an announcement that confirmed about the new Panda refresh, which is said to have affected 1.2% of English queries. Specifically, it made several websites (even those owned by large companies) bouncing up and down the search engine rankings. Most organizations and website owners were caught flat footed that before they were able to react, their search engine rankings were badly affected and quick to act on this is PrimeView, ...

Creating an Outstanding Life with Alex Stark on February 19 Why Shamanism Now? with Christina Pratt

2013-02-16
Streaming live on the Co-Creator Radio Network (www.co-creatornetwork.com) on Tuesday, February 19, at 11 a.m. Pacific time/2 p.m. Eastern time, on her show "Why Shamanism Now? A Practical Path to Authenticity," shaman and founder of the Last Mask Center for Shamanic Healing Christina Pratt asks the questions: What steps must you take to live in harmony with nature, culture, community, and the path of your heart? What overlooked assumptions about space and energy keep us from engaging in the awakening energy of our time? This week guest Alex Stark offers practical, ...

Homeowners Chooses Made to Measure Curtains for Home Renovation

2013-02-16
Homeowners, who need a simple renovation or total redesigning of the house, think about the benefits of using made to measure curtains. These individuals believe that these items can improve their house greatly. When decorating the windows, it requires much effort to consider the best designs that provide the exact complement to the house. The market today is offering wide range of window coverings and the most impressive choices include the made to measure curtains and roman blinds. In most well developed countries like in UK, people here consider these curtains ...

Franchise Council of Australia Partners with Shoebooks

2013-02-16
Shoebooks continues to be recognized as an invaluable partner and success contributor to business organizations and business owners in Australia. That is why the Franchise Council of Australia (FCA) has partnered with Shoebooks in the aim of making the members of the FCA have access to the country's leader in online accounting. According to Carolyn Dib of Amigos Mexican Restaurant, "Shoebooks the system and organisation is what I would tell any business person to align with immediately to have elevated business management results". This partnership is making ...

CleanFreeFun Announces New Website to Find Ways to Have Fun For Less

2013-02-16
The new website for CleanFreeFun has been launched, providing a centralized source for finding events and entertainment in Atlanta and surrounding areas. Locals and visitors benefit because they can find clean, inexpensive fun, often for free or $5 or less. Editorial recommendations, user comments, and expert advice from local businesses help readers make decisions and find popular and lesser known spots in the area. The website includes categories such as music, sports, plays, movies, and car events, plus it offers listings for museums and outdoor activities such as ...

Sunshine Opens Grizzly Terrain Park This Family Day Weekend

2013-02-16
Sunshine Village Ski and Snowboard Resort today announced the launch of the Grizzly Terrain Park, set to open just in time for the Family Day long weekend. The newly designed park, which will see its first opening since the 2010-2011 ski and snowboard season, will open with one jump line and include an uprail, 25-foot table and 40-foot table. Additional lines and features will also be added throughout the season. "Thanks to the outstanding efforts of Sunshine's terrain park crew, we will be able to increase Sunshine's terrain park offerings leading into this ...

Diladele B.V. Releases Web Safety - Simplified Advertisement Blocking and Privacy Protection for All Your Browsing Needs

2013-02-16
Diladele B.V. announces release of the new version of Diladele Web Safety, simplified advertisement blocking and privacy protection solution for home users and small offices. Diladele Web Safety is a personal web filter featuring simplified advertisement blocking and privacy protection. It supports all existing browsers (Internet Explorer, Google Chrome, Mozilla Firefox, Opera and Apple Safari) running on Microsoft Windows 7 or Microsoft Windows 8. The product was awarded the "Certified for Windows 8" and "Windows 8 Compatible" certificates by Microsoft. ...

Kelowna Home Watch Company Launches New Website and Innovative Client Portal

2013-02-16
The new website of Guardian Property Services, Inc. has been launched, aiming to provide potential and existing customers with a wealth of resources related to the home watch industry. The site also features a Client Portal that is designed to remotely link homeowners with their properties in an interactive, secure dimension. The site, http://www.gpskelowna.ca, features detailed information about the wide spectrum of services that Guardian offers, as well as an informative Resource Centre that includes home watch FAQ's, homeowner tips to keep homes safe and well-maintained ...

LAST 30 PRESS RELEASES:

Are lifetimes of big appliances really shrinking?

Pink skies

Monkeys are world’s best yodellers - new research

Key differences between visual- and memory-led Alzheimer’s discovered

% weight loss targets in obesity management – is this the wrong objective?

An app can change how you see yourself at work

NYC speed cameras take six months to change driver behavior, effects vary by neighborhood, new study reveals

New research shows that propaganda is on the rise in China

Even the richest Americans face shorter lifespans than their European counterparts, study finds

Novel genes linked to rare childhood diarrhea

New computer model reveals how Bronze Age Scandinavians could have crossed the sea

Novel point-of-care technology delivers accurate HIV results in minutes

Researchers reveal key brain differences to explain why Ritalin helps improve focus in some more than others

Study finds nearly five-fold increase in hospitalizations for common cause of stroke

Study reveals how alcohol abuse damages cognition

Medicinal cannabis is linked to long-term benefits in health-related quality of life

Microplastics detected in cat placentas and fetuses during early pregnancy

Ancient amphibians as big as alligators died in mass mortality event in Triassic Wyoming

Scientists uncover the first clear evidence of air sacs in the fossilized bones of alvarezsaurian dinosaurs: the "hollow bones" which help modern day birds to fly

Alcohol makes male flies sexy

TB patients globally often incur "catastrophic costs" of up to $11,329 USD, despite many countries offering free treatment, with predominant drivers of cost being hospitalization and loss of income

Study links teen girls’ screen time to sleep disruptions and depression

Scientists unveil starfish-inspired wearable tech for heart monitoring

Footprints reveal prehistoric Scottish lagoons were stomping grounds for giant Jurassic dinosaurs

AI effectively predicts dementia risk in American Indian/Alaska Native elders

First guideline on newborn screening for cystic fibrosis calls for changes in practice to improve outcomes

Existing international law can help secure peace and security in outer space, study shows

Pinning down the process of West Nile virus transmission

UTA-backed research tackles health challenges across ages

In pancreatic cancer, a race against time

[Press-News.org] Unpaid student loan debt increasing
A fair number of New York residents are familiar with student debt. Recent data shows that many individuals are currently behind on student loan payments.