Oak Park Real Estate & Estate Planning Blog

If you have student loan debt and are struggling to make your payments, it is critical to know that you could be targeted by a student loan debt relief scam. Receiving a call or another form of contact from an alleged student loan debt relief organization can feel particularly welcome for many Americans, especially if you have recently read or heard that student loans can be difficult to discharge in a consumer bankruptcy case. Yet student loan debt relief companies may not be able to keep the promises they make to consumers, and they can ultimately cost you more money and stress in the long run. Our experienced Oak Park consumer protection lawyers want to discuss a recent action taken by the Consumer Financial Protection Bureau (CFPB) against operators of an unlawful student loan debt relief company, and to tell you more about your options for managing student loan debt through bankruptcy and otherwise. It is a common misconception that there are no options to discharge student lo...

Many student borrowers in Oak Park and throughout the country are struggling with debt and trying to determine whether consumer bankruptcy might allow them to get a fresh start. As many people know, it can be extremely difficult to discharge student loan debt through personal bankruptcy, and as such, not many debtors often try to do so. Given the difficulty of discharging student loans in bankruptcy and the rising level of student debt in the country, many borrowers have been contacted by student loan debt relief companies. However, as a recent article in Consumer Affairs underscores, some student loan debt relief companies are engaging in fraudulent consumer practices. The Federal Trade Commission (FTC), along with state attorneys from eleven different states, has “launch[ed] a coordinated attack on student loan debt relief services, alleging they have fraudulently collected roughly $95 million in fees, according to the article. Illinois Attorney General Lisa Madigan is ...