Welcome to the first radio show with Jeff Kelly featuring guest Patrick Matson. Today we debunk the fears surrounding bankruptcy and ensuring that your bankruptcy experience is one that goes smoothly.
Hello, this is Jeff Kelly and Today is August 31, 2020. Today’s title of what I’m going to talk about is why should student loans be dischargeable in bankruptcy? I believe that it is way past time to end the economic slavery that millions of college graduates across our country suffer and make student loans dischargeable in bankruptcy just like they were back in the 90s. Can you imagine the nightmare of living with a $200,000 debt that just hangs over your head increases with interest every single year? For many Americans this nightmare is their daily reality. Want to finance a house? Forget it. Want to finance a car? Forget it. How about getting a loan to start a new business? Forget it. When a dark cloud of student loan debt hangs over your head moving forward is economically impossible. Now, prior to 1976, student loans could be discharged just like any other debt. And over the years, restrictions were added. The first restriction was you had to wait five years after graduating before you could discharge student loans. Then the goal line got changed to seven years and then in 1998, the hammer was completely put down. Student Loans could virtually no longer be dischargeable in bankruptcy. As a result, if you want to go find a good summary on the internet about the history of student loans and bankruptcy, you can go to savingforcollege.com backslash article backslash history of student loans bankruptcy discharge the consequences of making student loans non-dischargeable in bankruptcy. Since 1998, the cost the cost of a college education has more ...
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Transcript: Hello, this is Jeff Kelly, and today I’d like to talk to you about stopping a garnishment in Georgia. When your employer is served with the garnishment, it is extremely important that you take action as soon as you can. If you don’t do anything, if you try to ignore it, here’s what’s going to happen, the creditor is going to take up to 25% of your net paycheck. In other words, if you take home $500 a week, they’re going to get $125 a week. Here’s how the garnishment process normally works in Georgia. First, the creditor is going to file a lawsuit against you. In most cases, the local sheriff is going to drive up to your house and serve with court papers. You know if you dispute this claim, if you think somebody’s trying to pull a fast one on you and you don’t really owe this debt, you really need to hire an attorney and you need to respond to this lawsuit, you need to get an answer filed within 30 days of being served. Otherwise, a creditor is going to obtain a default judgment against you. Once they obtain the default judgment, the creditor is then going to apply for a garnishment and the court will then serve papers on your your employer. Now, this is really important to note. If you’re the court papers are going to clearly state that your employer has 45 days to ...
