student debt loris law office
 
Rep. John Delaney, D-Md., introduced bipartisan legislation Friday to allow student debt to be discharged in bankruptcy. 
 
The Discharge Student Loans in Bankruptcy Act (H.R. 2366) reforms federal bankruptcy rules to establish parity between student loan debt and other forms of debt. Rep. John Katko, R-New York, is the lead republican co-sponsor of the bill.

online loans

You've seen the commercials. You need money, and these websites can give it to you, often within 24 hours and without a credit check. Should you take the offer?

Common sense would suggest no. Everyone knows that there is no free lunch, and the terms of many quick and easy loans mean that a financial company will have you for lunch. Granted, not all online lending services are shady. Many mortgage lending companies are reputable, as are many lending companies that offer low rates based on a high credit score.

But if you have lousy credit, and you're still being offered a loan, that's a red flag that you're about to accept money that you'll later regret.

So before you use an online lending service, do your research – check out the online reviews, comb the internet to see if there's a barrage of negative press on the company and study the loan's fine print. At least then if you still take the loan, you'll know what you're in for. And what might that be? Here are details you won't often find trumpeted in the ads for online lending services.

Read the rest of the story at US News.

payday loans

Too many borrowers seeking a short-term cash fix are saddled with loans they cannot afford and sink into long-term debt," said CFPB Director Richard Cordray. "By putting in place mainstream, common-sense lending standards, our proposal would prevent lenders from succeeding by setting up borrowers to fail.

The CFPB research showed that median fee on a payday loan is $15 per $100 borrowed with a median loan term of 14 days, resulting in an annual percentage rate of 391 percent on a loan with a median amount of $350. Those fees generated $3.6 billion in fee revenue in 2015 for the estimated 15,766 payday loan stores across the U.S.

Lenders would still have the option to loan up to $500 to consumers without a full-payment test but only to consumers without any outstanding short-term loans. Long-term loans would also be available but the interest rate would be capped at 28 percent and the application fee could be no more than $20.

Read the entire artice: AL.com

credit repair

While everyone understands the value of improving your credit scores, there is no single strategy to improving it quickly. If you want to raise your credit score by more than 100 points, you have to understand what is causing your credit scores to be lower in the first place. Here are three strategies that may help to point you in the right direction in your quest toward credit score improvement and help you raise your credit score.

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