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It can actually be the start of something good.
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Student loan debt burdens baby boomers

Posted on September 30th, 2014 No Comments

According to research, the amount of student debt held by the American elderly has escalated in recent years, the New York Times reported on September 12.

According to the “Household Debt and Credit Report,” unsettled student loan debts held by senior citizens reached $43 billion from the $8 billion recorded nine years ago. Data from the Treasury Department stated that since last July 31, the Social Security benefits of nearly 140,000 elderly citizens are being deducted to cover their unpaid student loans. The Federal Reserve Bank of New York stated that an estimated 2 million elderly in America aged 60 and above are plagued with student loan debts.

Suffering from overwhelming student loan debts can be frustrating, especially if you depend on Social Security benefits and your finances are already limited. However, if you are experiencing this in Birmingham, the lawyers at Greenway Law, LLC., may work for you. Find out how our lawyers may possibly help you get rid of your debts today by calling (205) 324-4000.     

Former Westlife member speaks about his recovery from bankruptcy

Posted on September 23rd, 2014 No Comments

Ex-Westlife member Shane Filan expressed relief after moving on from bankruptcy and is currently writing a book regarding his financial struggle, an article on Irish Mirror reported on September 4.

According to reports, the 35-year-old singer/songwriter of the popular Irish boy band filed for bankruptcy two years ago after millions worth of his real estate investments were affected by the recession. These days, Filan says that he and his family are slowly recovering from the slump. His financial troubles are frankly detailed in his autobiography, My Side of Life, due out in October. Filan is hoping that his autobiography will provide hope and solidarity for people who are suffering from crippling debt.

Financial problems can feel overwhelming. Though in this difficult situation, a lawyer may possibly offer you personalized legal solutions to help you manage your debt. Find out how the Birmingham lawyers at Greenway Law, LLC may work for you today by calling (205) 324-4000.

Tuscaloosa people rallied to limit payday loan interest

Posted on September 3rd, 2014 No Comments

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 Law, LLC., today by calling (205) 324-4000.

Depression symptoms related to unsecured debt

Posted on August 22nd, 2014 No Comments

According to a recent study, older people are likely to exhibit signs of depression if they are plagued with a certain amount of unsecured debt, a Newsday article stated on August 1.

In the study conducted at Rutgers University, the researchers stated that an estimated 30 percent of people aged 51 and above have unsecured debts, such as from a credit card or unpaid bills. The study also revealed that the higher the debt was in proportion to income, the greater the chances that person showed signs of depression. A different study listed the average amount of credit card debt for adults 50 and over was $8,300.

In times of financial hardship, debts can quickly become unmanageable and overwhelming. However, there may be method of recourse for those in debt to start again. The attorneys at Greenway Law, LLC., may be able to offer you legal solutions to mitigate or manage your debt. To learn more, call our Birmingham offices at (205) 324-4000 today.

Nationwide foreclosure activity the lowest since 2006

Posted on July 31st, 2014 No Comments

A recent report released by RealtyTrac said that nationwide foreclosure activity was the lowest since the U.S. was plagued by the foreclosure crisis, an article by the World Property Channel stated on July 17.

Last June, there were 613,874 homes recorded in the U.S. in different stages of foreclosure procedures. The recent data was reportedly lower by 23 percent compared to the first half of last year. Also in June, a 4 percent decrease in foreclosures was observed, and bank repossessions decreased by 5 percent compared to the month before. Though overall foreclosure continues to improve, RealtyTrac stated that at least 15 states last month experienced an increase in foreclosure activity.

Though the U.S. foreclosure rate continues to improve, many homeowners are still having troubles honoring their mortgage obligations due to financial difficulties. If you are struggling to avoid foreclosure in Birmingham, the lawyers at Greenway Law, LLC., may offer you legal solutions to help defend your home. Learn more about how our legal team can help by calling (205) 324-4000 today.

Sports mogul Steve Donner bankrupt

Posted on July 17th, 2014 No Comments

Former owner of the Amerks and Knighthawks, Steve Donner filed for bankruptcy in Florida, the Democrat & Chronicle stated on July 3.

The 57-year-old sports mogul and his wife reportedly filed for Chapter 7 bankruptcy last May. Donner, who had an outstanding debt of $9.5 million, listed his two vehicles as his remaining assets of an estimated amount of $17,000. The bulk of Donner’s debt was a loan worth $8.5 million acquired from NBT Bank to finance the construction of Sahlen’s soccer stadium. Currently Steve and his spouse Lynne have listed a monthly income of $4,000. Aside from being a project manager for the Daytona Ice Arena, Donner stated recently that he works with a meat packaging firm.

Facing overwhelming debts can be frightening and make you feel helpless. However, a lawyer may offer you legal options to help you recover from your debts. Find out how the Birmingham-based lawyers at Greenway Law, LLC., may work for you today by calling (205) 324-4000.

Proposal to ease students’ debt burden

Posted on July 1st, 2014 No Comments

In legislation recently proposed by a senator, students who took out private loans may have them discharged in bankruptcy cases, an article by the Huffington Post stated on June 25.

In the Higher Education Affordability Act introduced by Senator Tom Harkin (D-Iowa), the option was proposed for struggling borrowers of private student loans to have their debts discharged through bankruptcy, as federal student loans can be. Individuals who borrow funds from private lenders struggle to settle their debts due to higher interest rates than loans from the government. A report by the Wall Street Journal said an estimated 15 percent of the total education debt was from individuals who borrowed from the private sector.

The attorneys of Greenway Law, LLC., know that many Birmingham individuals are struggling to repay their student loans. If you are in such a situation, we may possibly offer you legal solutions to solve your debt problems. Discuss your situation with us today by calling (205) 324-4000, and find out how we may help you.

U.S. foreclosure activity steadily decreased in the last 8 years

Posted on June 18th, 2014 No Comments

A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10.

Reports said that in May, banks acquired fewer homes and property owners filed for fewer foreclosures than in the past eight years. At least 109,824 homes nationwide were recorded in foreclosure procedures in May, a decline of 6 percent from April. Nationwide, records showed that banks only acquired 28,373 homes in May, and at least 47,085 homes were auctioned–both numbers the lowest since 2007. RealtyTrac Vice President Daren Blomquist is optimistic that the foreclosure rate will continue to decline.

Unfortunately, the lawyers at Greenway Law, LLC., understand that in Birmingham alone, many homeowners are still plagued by foreclosure crisis. If you are in a situation like this, other legal options may be available to you to protect your home. Speak with us today at (205) 324-4000 to learn more about your options.

University athletes also burdened by student debt

Posted on June 11th, 2014 No Comments

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 Law, LLC., may offer you other solutions to solve your debt problems. Call (205) 324-4000 to find out how we may help you.

Foreclosure activity across U.S. continues to drop

Posted on May 30th, 2014 No Comments

Fortunately, the U.S. housing industry observed a 1% decrease in foreclosure rates for the month of April, Reuters reported on May 15.

Foreclosure activity including bank repossessions, foreclosure notices, and auctions is overall 20% lower than last year, making it the 43rd month in a row that foreclosure activity has been down. Compared to March, last month’s scheduled auctions declined by 3 percent, significantly lower in comparison to March 2013′s numbers.

According to RealtyTrac vice president Daren Blomquist, “we are getting closer to pre-recession levels of foreclosure activity.”

At Greenway Law, LLC, we understand that many people in Birmingham still deal with foreclosure. By getting in contact with our highly knowledgeable lawyers, we may be able to defend you against your home foreclosure and even reduce or eliminate your debt at the same time.  Contact us at (205) 324-4000 so that we can discuss your situation together.

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Greenway 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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