Archive for bankruptcy

Bankruptcy Protection Bill for Private Student Loans Advances in Congress

Posted in Activism, Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags , , , , , on October 16, 2010 by debtprisoner

The Private Student Loan Bankruptcy Fairness Act (H.R. 5043), originally introduced in the House on April 15 by Reps. Steve Cohen of Tennessee and Danny Davis of Illinois, was passed by a House subcommittee on Sept. 15. The proposed legislation would reverse a provision of a lender-friendly bankruptcy reform bill that, in 2005, created special protections for lenders of private student loans, making private student loans almost impossible to discharge in bankruptcy, unlike most every other form of private consumer debt.

LINK TO FULL STORY

American College Debt: The Beast That Swallows Its Young (video)

Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans, Videos with tags , , , , , , , , , , on March 18, 2009 by debtprisoner

Student Loan Scam on The Michael Savage Show

Posted in Activism, Economy, Higher Education, Media Appearances, Sallie Mae, Student Debt, Student Loan Default, Student Loans, Videos with tags , , , , , , , , , , , on March 17, 2009 by debtprisoner

Student Loan Scam: The Most Oppressive Debt in U.S. History
—and How We Can Fight Back
.. – Author: Alan Michael Collinge. JANUARY 29, 2009. MICHAEL SAVAGE Show.

Alan Collinge never imagined he would become a student loan justice activist. He planned to land a solid job after college, repay his student loan debt, and then simply forget the loans ever existed. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.

Default: The Student Loan Documentary (movie trailer)

Posted in Activism, Economy, Higher Education, Media Appearances, Sallie Mae, Student Debt, Student Loan Default, Videos with tags , , , , , , , on March 17, 2009 by debtprisoner

Default: The Student Loan Documentary is a feature-length documentary chronicling the stories of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system.

In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin.

LINK: www.DefaultMovie.com