Is it true that you don't have to pay student loans if you're on disability?
I'm 18 and I get disability for my Asperger's. Personally, I don't even think I need disability. I don't even consider Asperger's a disability as much as an advantage. But, my mom put my on it and I get free money and don't have to get drafted so what the hell right? Anywho, I'm paying 25,000 a year for my college (I'm a freshmen) and half of it is grants, the other half is loans. If I brought this up to this financial aid office, wouldn't that mean I could like go to college for free? Or would I have to wait till after I graduate? Also, would it just cancel out the loans, or would it give me refunds?
Is there any student loan forgiveness for the elderly?
My mother-in-law is 57 years old and not doing well. She's lived longer than anyone in her family and her mental and physical health is constantly declining. She hasn't saved any money and doesn't has never been mentally well enough to manage finances or her life very well. We assume she's had either some undiagnosed mental illness or a learning disability and it's left us in a tough situation. One debt she has is a very high interest Sallie Mae student loan. She took some classes at a community college, never finished or got a degree or worked in the field. She's owes a ton of money because the interest is so high. These loans are probably over 15 years old and she's still paying on them. We are looking at options to help her and I want to know if anyone knows of any ideas for this specific thing. Are there any student loan forgiveness programs for an old loan and someone who's below or at the poverty line? We live in St. Charles County, Missouri. Her loan is from the same area. Thanks.
Is there a way to get my husband's student loans forgiven with my disability forgiveness?
Federal student loans can be discharged if the borrower has a total and permanent disability. There is no provision for discharging the debt if the borrower’s spouse is disabled.Some private student loans offer a disability discharge that is similar to the disability discharge on federal student loans. Like the federal disability discharge, private student loans cannot be discharged if the borrower’s spouse is disabled. However, there are a few circumstances in which there’s a chance for a discharge, albeit a very small chance:If the borrower’s spouse cosigned the loans, the spouse could apply for a disability discharge. Usually, however, this will discharge only the spouse’s responsibility to repay the debt. It will not discharge the primary borrower’s responsibility to repay the debt.The borrower could appeal for a compassionate review by the lender. Again, unless the spouse’s disability affects the borrower’s ability to work, it usually will not result in a discharge.Be sure to tell the lender if the spouse became disabled while on active duty in the U.S. Armed Forces, as some lenders are more accommodating for service-related disabilities.
How can I defer taxes over several years on the gains with student loan forgiveness?
It sounds like you have already obtained the debt forgiveness.Instead of just deferring the tax, wouldn’t you like to completely eliminate the tax?I’ll tell you how you might be able to do that. You might not owe taxes on the forgiveness if you meet the IRS insolvency test.Refer to Publication 4681 (PDF), Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals), for more detailed information regarding taxability of canceled debt, how to report it, and related exceptions and exclusions.The link to the IRS publication will tell you all you probably need to know.If you were able to obtain the forgiveness, there is a good chance you will qualify.Good luck.Any readers who want to find out about dischargeing income taxes in bankruptcy can take a look at my free Ebook, Best Bankruptcy Book, which tells you the basic rules for discharging income tax debts in bankruptcy.
Ex owes 20,000 in child support will ssi erase his arrears?
My ex husband is filing for ssi or ssdi, im not sure which one, i understand his current support will no longer exsist while he is on and that I will get a portion for kids. My question is what happens to the 20,000 he owes in arrears. He is only filing ssi(pretending to be bipolar which he has fooled all the doctors and he has gone to extremes for a over a year) to get a lump sum of money for himself and he told me he will no longer owe me current or BACK child support. He said he will stay on for a year or so just enough to get his "stuff" together. Pay his bills get his liscense back( that child efforcement took away), buy a car, wipe away the back and current child support, etc. Can you report fraud to social securtiy? How can this be fair? If he goes on ssi for a short time and they wipe out his arrears and then he gets a great job, wins the lottery or whatever and has no obligation to his child support arrears????? This just doesnt seem right.
Would you consider leaving the US to evade student debt?
Would you consider leaving the US to evade student debt?Very few student loan borrowers have done this.If a borrower leaves the U.S., the debt will still exist and will continue to accrue interest, growing larger and larger. The federal government has very strong powers to compel repayment of federal student loans. While most of these powers do not reach overseas, some are still effective, such as offsetting Social Security disability and retirement benefits. Also, if the borrower ever hopes to return to the U.S., allowing the loans to grow unchecked is not an ideal solution.Making payments on student loans from outside the U.S. can be very challenging. Wire transfers can be expensive, and fluctuating currency exchange rates can make it difficult to precisely determine how much money to transfer. It may be easier to maintain funds in a dollar-denominated bank account in a bank with branches in the U.S. and the foreign country. However, if the bank account is owned by the borrower, it may be vulnerable to a bank levy if the borrower is in default and the lender gets a court judgment against the borrower.Expats who have defaulted on student loans in the U.S. are often in a limbo state, where they are unable to access government-sponsored benefits, such as healthcare, in the country in which they reside. Most countries do not allow expats to become citizens if they owe debts in their country of origin. Expats may have to return to the U.S. periodically, since most countries do not allow non-citizens to remain in the country indefinitely.There are alternatives.Borrowers of federal student loans can rehabilitate defaulted student loans and switch to an income-driven repayment plan. This bases the monthly payment on a percentage of discretionary income, as opposed to the amount owed. This can yield affordable monthly loan payments, with the remaining debt cancelled after 20 or 25 years in repayment. If the borrower works full-time in a public service job, the remaining debt is cancelled after 10 years (120 payments).Private student loans are subject to a statute of limitations, that varies from 3 years to 15 years, depending on the state. 6 years is the most common duration. Borrowers have to be careful to avoid resurrecting time-barred debt, but the debt will eventually become uncollectible.
What predicaments has the manic side of bipolar disorder gotten people into?
Oh boy…What people don’t understand that is while hypomania is very enjoyable and a hyped up version of yourself, Mania with a capital M is something entirely different. In the latter case, someone else takes over your brain. You’re not in control, even if you think you are.For instance, in hypomania I’ll change my life goals and career plan to something different, but this thing is usually something I enjoy as a hobby, for instance. There are exceptions to this but with milder hypomania you’re basically just way more optimistic about your abilities and future.In one of my first hypomanias I probably bought around $500 worth of makeup and clothes, but the thing is I still use and like the things I bought.Now for mania… I’m going to preface this with that I don’t like cars. But I’m still recovering from my last manic episode, in which the course of 3 days I decided I wanted a car, then I searched obsessively for cars, and then I bought a car after about half an hour of consideration.I’m out like $3,000 now. I also did some other minor stuff, but still—that’s a loooot of money to burn in less than a week. It’s funny, but also sad. I actually don’t want a car. Mania isn’t losing inhibitions, it’s becoming an entirely different person.And the person I became really wanted a car, I suppose.