Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Tips for students to lower loan debt in college

Most individuals entering college have already accepted that they will be saddled by student loan debt. Because student loan debts are so ruthless, students should act immediately to save some money through their own actions.

Freshmen may want to shorten their stay in college by determining which major they will pursue early. Clear career paths can translate to avoiding unnecessary classes. A student can also save money by reducing daily expenses. Consider buying used books and selling them at the end of the semester. Although treating yourself once in a while is gratifying, momentarily sacrificing some lifestyle choices, such as daily coffee or weekly pizza, could be beneficial in the future. When taking out loans, be sure to prioritize the financial assistance offered by the federal government, since it has lower interest rates than that offered by private institutions.

The attorney at Greenway Bankruptcy Law, LLC understands that many individuals are plagued with student loan debt. If you are saddled by debt, we may be able to offer you workable solutions that could help you recover from your financial woes. Learn more about your options with us today by calling (205) 324-4000.

Take a summer vacation while avoiding debt

For many families, credit card debt is an expected consequence of a nice vacation: American Express reports that a family of four is likely to spend approximately $4,580 on a vacation.

Families who are on a tight budget may want to explore destinations nearby. Public places such as national parks and other recreation sites are worth considering for those who want to avoid the expense of traveling but still want to get away. People who have friends in other cities may consider staying at their place for a while or try swapping homes with relatives or friends. Similarly, because gasoline is still inexpensive, people may consider traveling by car instead of plane. Road tripping makes travelling considerably less expensive, especially since families can bring their favorite foods in a cooler and stay at affordable lodging facilities while on the road.

The legal team at Greenway Bankruptcy Law, LLC in Birmingham understands that many people are struggling with their finances due to overwhelming credit card debt. If you have amassed serious debt, we may be able to offer you the necessary advice to help you negotiate your debt. Find out how we may be able to work for you by calling (205) 324-4000.

U.S. grads find it harder to pay off student loans than UK grads

A recent study revealed that although student loans are substantially higher in the UK than the U.S., college graduates in the U.S. often find it harder to settle their debts, an article of University Herald reported on June 17.

In the report released by the Sutton Trust, tuition fees in the UK were the highest among English-speaking countries and college graduates were left with heftier student loan debts. Even so, students in the UK had an easier time settling their debts than American students. The research focused on 30 English-speaking countries including Australia, New Zealand, and Canada. Unlike graduates in other countries, UK grads are given “clear repayment methods.” U.S. grads often contribute to the glaring student loan debt level because many of them are not earning income to settle their debts.

The Greenway Bankruptcy Law, LLC legal team understands that many college graduates are stuck repaying their student loan debt without an income to do so. If you have debt with no income, we may be able to offer you a legal option to help resolve your financial issues. Call our office today at (205) 324-4000 to learn more about your options.

Understanding debt negotiation

Individuals in Birmingham who are dealing with overwhelming debt may hesitate to do anything about it because they feel that bankruptcy is their only option. Fortunately, that is not true. Debt negotiation is a process by which individuals who are struggling with debt may enlist the help of a financial attorney to renegotiate the terms of certain loans or debts. This option often allows every party to walk away feeling satisfied with their new arrangement.

During the negotiation process, a representative, usually an attorney, will meet with creditors on your behalf in order to take a look at the terms of your loan. You may be able to change things like the interest rate or payment schedule to better suit your situation.

Individuals who are considering debt negotiation should be wary of fraudulent companies who offer this service with no intention of honestly working on your behalf. There are unscrupulous organizations that will take advantage of those in financially vulnerable situations; that is why it will be important for you to find a bankruptcy attorney you can trust.

The lawyers at Greenway Bankruptcy Law, LLC, work for financially-troubled individuals in Birmingham who are interested in the debt negotiation process. Our trustworthy lawyers will work to protect your interests so that you can regain your financial footing. Call (205) 324-4000 today to learn about our services.

Handling credit card debt during unemployment

Facing unemployment is frustrating, espeically if you are burdened with credit card debt. Individuals who are in a situation like this may want to consider the following ways to alleviate their situation:

  • If you are currently looking for potential employers, it is important that you are capable of stretching your money–though make it a point to settle at least the minimum of your monthly dues.
  • Consider notifying your credit card provider about your unemployment; this is crucial mostly if you are planning to negotiate a delay or decrease in your payments.
  • Avoid financing assistance that comes with high interest rates offered by credit card companies.
  • Avoid any unnecessary expenses during unemployment and try to improvise ways to further decrease your daily expenses.

Aside from these tips, the lawyers of Greenway Bankruptcy Law, LLC, in Birmingham also offer other ways to help unemployed or employed individuals who are stuck with overwhelming debt. If you want to know more about the options that could alleviate your financial situation, call us today at (205) 324-4000.

Many Americans remain plagued by serious credit card debt

According to a new survey, many American families are still affected by overwhelming credit card debt, although the number is decreasing, an April 10 article of KOMO News stated.

In the survey conducted by the National Foundation for Credit Counseling (NFCC), it was revealed that one in three family members is having trouble paying the monthly credit card balance. Those individuals who fail to pay their monthly dues eventually struggle with their debt because of the accumulating monthly interest. To manage credit card debt, NFCC Vice President of Communications Bruce McClary suggests that people should faithfully pay their monthly credit card balance in full.

If you are heavily burdened by overwhelming credit card debt, enlisting a lawyer could help you understand the legal options available to you that may help you recover from your debt. Call the Birmingham lawyers of Greenway Bankruptcy Law, LLC, today at (205) 324-4000 to find out how we may work for you.

Senator proposes alternative to payday loans

In a proposed bill, U.S. Senator Sherrod Brown suggested allowing families to withdraw money they would have received on their tax return, thereby allowing them to avoid the high interest of predatory payday loans, 1370 WSPD reported on January 19.

According to the proposed bill, instead of resorting to payday loans, which quickly sink many families into debt as they struggle to pay on interest, employees who qualify for Earned Income Tax Credit (EITC) may acquire cash advances from their employers, which would then be withdrawn from their tax return. Senator Brown’s move reportedly would help millions of Americans burdened by debt from short-term loans. Employees may get a cash advance for as much as $500. The cash advance to employees would be paid by the Internal Revenue Service (IRS) to the employer.

In Birmingham alone, the legal team of Greenway Bankruptcy Law, LLC, understands that many employees are burdened with debts from the high interest rates imposed by payday loan companies. If you are in such a situation, our lawyers may also offer you legal options to alleviate your financial problems. Call our office today at (205) 324-4000 to find out how we may work for you.

Ways to manage credit card debts after the holidays

Credit card holders who have splurged during the holiday season may consider the following tips to possibly lessen the headaches come repayment time, a Market Watch article stated on January 5 .

• Credit card holders may want to pay their cards with the highest interest rates first followed by other cards with low interest rates. Individuals who do this not only improve their credit score but also get lower interest rates on their future transactions.
• On the other hand, individuals who need a little encouragement may want to prioritize paying their cards with lower interest rates.
• Reputable card holders with a solid history who are struggling financially may ask their issuer to lower their interest rates.
• Another option for reputable card holders is to move their balance from one card to another. Moving balance from a card with high interest rate to card with lower rate can be beneficial.
• For card holders who like to budget, another option is to pay their card’s monthly due slightly above the minimum to reduce the payment duration and interest rates.

Though the following tips are helpful in managing credit card debt, working with a lawyer is also beneficial mostly if you believe your debts are already unmanageable. Find out how the Birmingham lawyers of Greenway Bankruptcy Law, LLC may possibly help you with your debt today by calling (205) 324-4000.

Tuscaloosa people rallied to limit payday loan interest

Hundreds of people in Tuscaloosa flocked to Calvary Baptist Church on the night of August 11 to advocate for a limit on the interest rates of payday loans, The Tuscaloosa News reported.

According to reports, more than 200 people showed up to urge the state’s lawmakers to cap the interest rates that pay day loan lenders can charge. Center for Ethics and Social Responsibility’s director and founder Stephen Black urged those who were in the rally to message their corresponding state legislators to limit the annual interest rate of payday loans to 36 percent. The group, organized by members of Tuscaloosa Citizens Against Predatory Practices (T-CAPP), is hoping that their move will be considered by legislative bodies in their convention next year. Policy analyst Stephen Stetson said as it stands, Alabama borrowers can end up facing interest rates up to 456 percent from taking out new loans to pay off the old ones.

Being trapped in the vicious cycle of payday loans may leave you feeling overwhelmed. If you are in a situation like this, a lawyer may possibly offer you legal solutions to help you manage your debt. Learn more about your options from the Birmingham lawyers at Greenway Bankruptcy Law, LLC, today by calling (205) 324-4000.

University athletes also burdened by student debt

College students in the U.S. who represent their schools through sports are also burdened by student debt after school is over, a Forbes article stated on June 3.

Though some college jocks are privileged enough to be rewarded with complete or partial scholarship funding, many still take out loans to cover additional living expenditures. There are many student athletes from economically-challenged backgrounds who must borrow funds to cover school and living costs. College athletes who are not covered by scholarship benefits are no different from any other college student who suffer massive debt repayment after they graduate.

The burden of student debt after graduating is significant, especially because well-paying jobs are not always available to inexperienced graduates. If you are struggling with debt in Birmingham, the lawyers of Greenway Bankruptcy Law, LLC, may offer you other solutions to solve your debt problems. Call (205) 324-4000 to find out how we may help you.

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505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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