Congratulations, you just graduated college! Now you’re $24,000 in debt! That is, according to the Federal Reserve Bank of New York, the average outstanding loan balance, with 10% of borrowers owing over $58,000. Some graduates are able to land a good paying job right out of college and pay them off without any problems. Some graduates are not. Different experts offer different advice for paying back your student loans: treat the loan like a mortgage create a 3-5 year plan establish your own college repayment fund start early with a part-time job in college avoid the usual traps max out federal loans before using any private loans pay down your principal check out programs like public service loan forgiveness to see
How can you remove a bankruptcy from your credit report? Well legally, you can’t, but that’s not how you should be thinking about credit anyway. Video Transcript Hello, this is Darrell Castle. I’m an attorney licensed to practice law in the state of Tennessee and on this video today, I’m talking about how you can remove a bankruptcy filing from your credit report. The answer to that question is – you really can’t. Not legally anyway. There are many people – agencies, companies – that come to you through advertisements and tell you how you can remove a bankruptcy from your credit report, but it can’t legally be done. And it’s not the right way to think about credit anyway.
How does a Chapter 13 bankruptcy work and what are the advantages? This infographic should help. Click on the image below to enlarge. If you’re considering filing for bankruptcy or if you have any questions, please contact us today, either online or by calling us at (901) 327-2100. One of our experienced Memphis bankruptcy attorneys will be happy to speak with you, free of charge. With the advocacy of a liquidation lawyer Memphis, TN residents trust, bankruptcy can usually be completed within 3-6 months from the date of filing.
By: Darrell Castle When hiring a bankruptcy attorney, keep in mind that you pay for what you get. Some attorneys advertise “cheap bankruptcies.” But that’s often JUST the cost of the attorney fee. There are also filing fees and credit counseling fees they don’t explain. And then there could be even more … Do you have a mortgage? That’s extra. A car you want to keep? Extra. More than one creditor? That’s extra too! Almost everyone ends up burdened with these hidden fees. So when it’s all said and done, those “cheap” bankruptcies end up being REALLY EXPENSIVE. That’s why I’m not going to tell you about OUR fee in this blog post. Because at Darrell Castle & Associates, we
Experian, one of the three main credit agencies, has released their Fourth Annual State of Credit. In this post-recession study, each of the four generations are compared based on the following statistics: Average credit card debt Average number of bank cards Average balance on those bank cards Average revolving utilization rate (the overall percentage of credit limits used) Average VantageScore (a credit score developed by Experian, Equifax and TransUnion) Here are how the four generations stack up: Greatest Generation (ages 66 and older) – this generation has the highest VantageScore along with the lowest average debt and the lowest utilization rate. This generation doesn’t use much credit, but whatever they do use, they manage very well. Baby Boomers (ages 47-65) –
Applying for Disability and the Role of Education Are you less likely to be approved for Social Security Disability Insurance (SSDI) if you have a high education? Here’s what you need to know about how education affects your Social Security Disability application. How Education Affects Your Work Options First, you’re just as entitled to SSDI with a law degree from Harvard or if you dropped out of school in 3rd grade. As long as you’ve worked and paid into the system (either through your paycheck or taxes), you can get SSDI for a disability. In fact, education can be a hindrance when it comes to SSDI. Your options will likely be seen differently by the SSA. More education typically means
By: Darrell Castle People worry about what a bankruptcy will do to their credit score. And rightfully so. Your credit score is important and maintaining a good one can save you a lot of money and frustration in the future. Just like a bankruptcy, a foreclosure will appear on your credit report. And the foreclosure will probably have negative effects. But the truth is, your credit score probably wasn’t very good already. What’s one of the main ingredients in a credit score? On-time payments. And what’s one of the main ingredients in a foreclosure? Missed mortgage payments. Therefore, if you’re facing a foreclosure, then you’ve missed your mortgage payments, meaning your credit score probably isn’t very good. A bankruptcy can
If you’re injured on the job, should you get an attorney? How can a lawyer help with your compensation claim? Is it expensive to hire a Workers’ Compensation attorney? To help prevent treatment coverage denial, if you’ve suffered a serious injury while on the job, contact a workers’ compensation lawyer Memphis, TN knows and trusts. In this video, Memphis attorney Darrell Castle discusses why you might want to get an attorney for your Workers’ Comp case. Transcript: How can an attorney help me with my Workers’ Compensation case? You need an attorney for your Workers’ Compensation claim in order for you to be successful in receiving a lump sum benefit for your injury. If you have a disabling injury, then
Truck accidents are different from regular accidents in personal injury because of various factors, from what may have caused the crash to the level of damage done. Memphis truck accident lawyer Darrell Castle explains. What makes truck accidents distinct? Truck accidents are different from other accidents, if by truck you mean the semi, tractor trailer type of thing. They’re different in many ways: for one thing, the speeds tend to be very high when those accidents occur. They usually occur on interstate highways or other throughways at high speed; and a truck that’s several thousand pounds of steal usually plowing into a bunch of cars or something can cause horrendous injuries. The issues involved are different as well. You have
How bankruptcy affects attorneys By: Darrell Castle Did you know that Chapter 13 bankruptcy was developed in Memphis, Tennessee in 1978? There aren’t many better people to discuss its development with than longtime Chattanooga Chapter 13 Trustee, Ken Still. The National Association of Chapter 13 Trustees Quarterly did an interview recently with Still. In Still’s closing remarks, he summed up not only how bankruptcy has affected the clients’ lives, but his as well: “I look forward to every day that I come to work. It is and has been a great challenge and a satisfying job. But it has been much more than a job, it has been an opportunity to assist thousands of people in dealing with their financial