Medical loans – Medic Buzz Sat, 18 Sep 2021 03:52:55 +0000 en-US hourly 1 Medical loans – Medic Buzz 32 32 TS and PSU banks are at loggerheads over the government lands of defaulting debtors Wed, 07 Apr 2021 23:17:08 +0000

Hyderabad: The Telangana State Government and several public sector banks are at odds over land and government assets mortgaged and developed on them by defaulting debtors, which are collectively worth thousands of crore.

The latest Trident scam, in which CBI booked the developers of the hotel project near Hitec City on bank fraud charges of Rs 1,285 crore, will only add to the ongoing fight between the government. State and banks.

As the state government tries to reclaim ownership of the plots of land in situations where developers defeat the purpose for which the allotment was made, banks argue that the government has allowed l mortgage on the property and therefore cannot recover the land or assets built on it.

Documents available with Chronicle of the Deccan revealed that the former government of Andhra Pradesh leased around five acres to a consortium of companies to build, operate and transfer (BOT) the hotel project after 33 years.

Initially, a five star hotel, Trident was to be built at a cost of Rs 214 crore, but the scope was extended, involving two hotels – Trident and Oberoi. Although the second hotel remained incomplete, the cost of the project climbed to almost Rs 1,300 crore.

As the construction of the second hotel was halted halfway, the hotel building has a mysterious appearance. Half is just a skeletal structure, adjoining the Trident.

Documents also revealed that Golden Jubilee Hotels Pvt Ltd, against which the CBI had brought the case, had made a commitment to the lenders to deposit all of the turnover in an escrow account with the Bank of Baroda.

Later, however, he alleged that the operating company had diverted the amounts to a separate bank account without his knowledge and without his approval.

“The agreement clearly states that the project is being built on a BOT basis and will become state property after the end of the concession period. We must act immediately to protect our interests, ”a senior tourism official told the correspondent.

In a similar case, the state government issued orders for the repossession of five acres which were offered by the then government YS Rajasekhar Reddy to a certain Dr Krishna Swaroop Reddy in the main region of Khajaguda for a simple Rs 55 lakh on the pretext that it would build an ultramodern state-hospital and treat the poor there. A former member of the Rajya Sabha who enjoyed enormous powers during the YSR tenure is said to have done a murder with this deal.

Three years later the doctor mortgaged the property to Andhra Bank for Rs 90 crore and then defaulted. The lender went to the High Court against the government order to take back the five-acre land. “We have fought several of these cases,” a bank official said on condition of anonymity.

Source link

]]> 0
Kamala Harris’ husband Doug Emhoff to campaign in Michigan for Biden Wed, 07 Apr 2021 23:17:06 +0000

Joe Biden’s presidential campaign sends his running mate’s husband to an event on Monday, October 12.

Doug Emhoff, an attorney representing entertainment and sports clients, would be America’s first “second gentleman” if Biden is elected in November. Emhoff recently hit the campaign trail with his wife, Democratic vice presidential candidate Kamala Harris, attending events in Nevada, Colorado, Utah and Texas this week.

The Biden campaign has not released any details on where Emhoff’s event is scheduled. Biden’s events have not been open to the public, due to the coronavirus pandemic.

Biden last visited Michigan on October 2, delivering a speech in Grand Rapids. He stopped in Warren and Detroit on September 9. Harris visited Flint and Detroit on September 22.

Biden’s wife Jill Biden visited a farm in Central Lake and then hosted an event in Traverse City on September 29. She was also in Michigan on September 15, when she visited Grand Rapids and Battle Creek.

US Senator Bernie Sanders, I-Vt., Campaigned for his former main Democratic rival in Ann Arbor and Warren on Monday.


For Michigan evangelicals, Trump stands for ‘Saved Babies’, Supreme Court Seat

Joe Biden urges ‘patriotic’ national mask mandate to stop Grand Rapids campaign

Trump’s positive COVID-19 test upsets 2020 presidential race home stretch

Bernie Sanders criticizes economy under Trump at Macomb County auto rally for Joe Biden

Source link

]]> 0
Greenwood man charged by federal government with alleged $ 14 million fraud scheme | USAO-SDIN Wed, 07 Apr 2021 23:17:04 +0000

Indianapolis – Acting U.S. Attorney John E. Childress today announced that Daniel R. Fruits, 46, of Greenwood, Indiana, has been indicted by a federal grand jury for his alleged role in three separate fraud schemes, including an investor fraud of nearly $ 14 million, an attempted mortgage fraud and a vehicle title wash scheme.

“This financial investor gave his hard-earned money to someone he thought he could trust,” Childress said. “Instead, the victim’s money ended up in the hands of a self-centered thief who only cared about his or her best interests. Living a life of fraud is inexcusable and always comes to an end. “

The indictment alleges Fruits defrauded a Kentucky investor, who was also Fruits’s employer, out of nearly $ 14 million. In 2015, the investor founded a trucking company, Secure Transit, and hired Fruits to manage it. Over the next four and a half years, the investor would invest around $ 14 million in the business.

During this time, Fruits lied repeatedly about the company’s financial health, who its customers were and what the money was spent on. On several occasions, Fruits allegedly sent the investor sales contracts of fictitious customers and falsified financial statements showing inflated profits of the company. At the same time, Fruits reportedly asked the investor for additional investments, sometimes in the millions of dollars, allegedly for the purchase of trucks or other business expenses.

Fruits spent a significant portion of the money on their own purchases and personal payments. He would have spent about $ 880,000 to buy a horse farm and his personal residence, $ 560,000 on a motorhome and trailer, over $ 111,000 on a Corvette, about $ 90,000 on three Rolex watches, about 55,000 $ on a horse, $ 33,000 on a horse trailer, $ 23,000 on payments for two Ferraris, and $ 30,000 on payments for two escorts.

In addition to investor fraud, Fruits attempted to carry out a mortgage fraud scheme on Fifth Third Bank. Specifically, in late 2018, Fruits made false statements to Fifth Third Bank to secure a mortgage for $ 432,000. He twice presented forged documents purporting to show that loans from another bank had been repaid when they had not.

Finally, Fruits carried out a title wash scheme to remove the banking lien from the title of a truck it purchased. He financed the truck with a loan from Ally Financial for more than $ 69,000. Several months later, he sent the Indiana Bureau of Motor Vehicles an allegedly falsified letter from Ally Financial stating that the loan had been repaid and the lien should be released.

The loan had not been repaid and Ally Financial never wrote this letter. As a result, BMV issued Fruits a clear, free title for the truck, which Fruits then sold for $ 48,000, without repaying the loan to Ally Financial.

This case is the result of an investigation by the Federal Bureau of Investigations and the Internal Revenue Service Criminal Investigation.

“This indictment sends a strong message that the FBI will aggressively investigate those who commit such massive financial fraud and rob their employer to line their pockets and fund a lavish lifestyle,” the agent said. Special in charge of FBI Indianapolis, Paul Keenan. “The FBI and our law enforcement partners will always prosecute those who take advantage of others through illegal and criminal behavior.”

“The IRS enforces the country’s tax laws, but is also particularly interested in cases where someone, for their own benefit and greed, has taken what belongs to others,” said Tamera Cantu, special agent. Acting IRS Criminal Investigation Officer, Chicago. Field office. “Using our agent’s financial investigation expertise, we tracked the money and helped unravel the fraud and deception carried out by Mr. Fruits. We are delighted with the successful resolution of this investigation through the efforts of cooperation from our law enforcement partner and the United States Attorney’s Office in the Southern District of Indiana.

An indictment is a collection of allegations and does not in itself constitute proof of guilt. An accused is presumed innocent and has the right to a fair trial during which the government must prove his guilt beyond a reasonable doubt.

In November 2020, Acting United States Attorney John E. Childress renewed a strategic plan designed to shape and strengthen the district’s response to its most important public safety challenges. This lawsuit demonstrates the Bureau’s strong commitment to prosecuting complex and long-standing fraud schemes. (See United States Attorney’s Office, Southern Indiana District Strategic Plan 5.1)

Source link

]]> 0
Southwick house destroyed by fire; two displaced residents Wed, 07 Apr 2021 23:17:01 +0000

SOUTHWICK – A house at 4 HIllcrest Road is considered a total loss to an early morning fire.

Two residents were displaced but no one was injured, said fire chief Russ Anderson.

The fire, reported at around 4:40 a.m., spread to the attic of the single-family ranch and caused the roof to collapse.

Anderson said the fire was the second at the same address in less than 12 hours. Anderson said the second fire is considered a “reignition” of the first, a term for where a fire reignites.

Firefighters were called there shortly after 5 p.m. Sunday over a gas grill fire that spread to the siding and attic. Strong winds and dry conditions helped the fire spread, Anderson said. The damage was estimated at $ 100,000.

Firefighters put out the first blaze and walked through the building looking for lingering hot spots, he said. The fire was considered extinguished, and firefighters left the scene shortly after 8 p.m., he said.

Residents were allowed to go inside and called a contractor to come and fix broken windows, Anderson said.

When they were called back to the same address a few hours later, firefighters found the house completely ablaze.

Westfield and Agawam helped each other during the two fires.

According to city records, the house is owned by Cortland and Colleen Dell and has a total estimated value of $ 170,000.

Source link

]]> 0
An effective migrant labor policy must take into account cases where existing labor laws fail Wed, 07 Apr 2021 23:16:58 +0000

Niti Aayog’s draft migrant labor policy is a clear statement of intent to better recognize the contribution of migrants to the economy and support them in their efforts. It offers several radical ideas, including taking a rights-based approach and establishing an additional layer of institutions to create a more migrant-friendly political environment. It proposes a new national migration policy and the formation of a special unit within the Ministry of Labor to work closely with other ministries. The new structure would bring about an essential convergence between the departments concerned and would constitute a big step towards a universal understanding of the causes and effects of migration as well as the necessary interventions.

The policy calls for improving the track record of implementing the country’s many labor laws which, overall, have failed to make a difference in the lives of migrant workers. It examines in detail the provisions of the Equal Remuneration Act, Bonded Labor Act, Construction Workers and Other Construction Workers Act and Interstate Migrant Workers Act, among others. others. The project also invokes the ILO’s Decent Work Agenda as well as the Sustainable Development Goals which aim to protect workers’ rights. It recognizes the challenges of providing social assistance to a highly fragmented migrant workforce due to recruitment patterns and lack of data. It refers to the importance of collective action and unions and there are detailed plans to improve data on short-term migration, especially seasonal and circular migration. As a goal statement, the project has a lot to celebrate.

But policy needs to delve deeper into the underlying causes of poor enforcement of labor laws that are tied to the political economy of recruitment and placement. Migrant workers from rural areas find work in the urban economy and in high productivity rural enterprises, either through kinship networks or through labor market intermediaries. These networks are essential in providing workers who can be positioned in jobs, where there is a demand for hardworking and controllable workers who will remain tied to the job. One way to ensure that workers do not leave because of difficult conditions is to bind them through the notorious system of advances. Although illegal, this type of arrangement is attractive to migrants from relatively disadvantaged backgrounds because they cannot raise large sums of money for weddings, housing and loan repayments. The document makes reference to unfair recruitment practices, but hardly any analysis of why the system persists and how it is activated by the employment structure of companies and enterprises.

Another area in which the project needs to be strengthened is the treatment of gender differences in employment. Domestic work is one of the most important occupations for migrant women from relatively disadvantaged backgrounds. Although the new policy aims to include all kinds of marginalized migrants, it could do more to explicitly mention the challenges faced by domestic workers. It would be very easy for them to remain excluded as India has not ratified the ILO Domestic Workers Convention and the 2017 Domestic Workers Bill has not become law. Other types of home work, extremely important for migrant women, could also remain excluded.

Another point to be raised here is the apparent ambivalence about the ability of tribal migrants to think for themselves and decide how they access the opportunities offered by migration. At the start of the project, we see a commitment to recognize the migrant agency, but this is less clear in the section where tribal migration policies are discussed. Tribal migration is constructed as a process by which recruiters “lure” or even traffick them. Domestic work, which is mentioned in this context, is an important source of income for tens of thousands of tribal women from disadvantaged backgrounds in the eastern states of India. There are of course a few cases of abuse, but these do not represent the experience of the majority. There is a need to better understand how migrants themselves weigh the costs and risks against the potential benefits of working in cities. Controlling tribal migration would defeat the recognition objective of the migrant agency.

In conclusion, the draft policy is a good start that could, with some adjustments, reduce the vulnerability and risks faced by migrant workers and ultimately build a more sustainable development model.

This column first appeared in the printed edition on April 7, 2021 under the title “Recognizing the Migrant”. The writer is Professor of Migration and Development, University of Sussex

Source link

]]> 0
The housing market is crazier than it has been since 2006 Wed, 07 Apr 2021 23:16:55 +0000
By Nicole Friedman 

Less than a day after real estate agent Andrea White put a three-bedroom home in Sacramento, Calif., Up for sale in March, she received a cash offer. The buyer – who hadn’t even seen the house in person – was prepared to pay $ 520,000, Ms. White said. It was $ 21,000 more than asking price and 37% more than what the seller paid for the ranch-style home just two years ago.

Accepting the offer was the easy part. Ms White then had to call 17 other agents who had scheduled tours of the house to let them know she was no longer in the market.

Ms. White, who works for brokerage firm Redfin Corp. and has been an agent since 2014, has never seen anything like sales madness take hold of her northern California town. “It’s exhausting,” she said. “I’m speechless. It’s heartbreaking for buyers, it’s a party for sellers.”

Last year was the hottest for sales activity in 14 years. Home values ​​are rising in virtually every corner of the United States, and median selling prices in dozens of metropolitan areas have posted double-digit percentage increases from a year ago, according to Zillow Group Inc. In Boise, Idaho, the median selling price rose almost 25% in January from a year earlier, while in Stamford, Connecticut, it rose 19%.

“Prices are going up pretty much everywhere,” said Mark Vitner, senior economist at Wells Fargo & Co. “It’s surprising to see house prices rebound so quickly, of this magnitude, so early in an economic recovery.”

While the pace of home price increases has been staggering, it’s not hard to see what is driving the frenzy. Mortgage rates are near historic lows. Millions of millennials are entering their 30s, the typical age of first-time home buyers. And the pandemic has spurred new demand: Some buyers want more space to work from home while others are willing to move away from their desks. Many workers who kept their jobs in 2020 were able to save for down payments due to stimulus checks, withholding student loan payments, and less spending on travel and entertainment.

The offer, meanwhile, has never been so tight. New home construction fell during the 2007-2009 recession and remained weak in the following years. Homeowners are also staying in their homes longer, in part because aging baby boomers stay healthier later in life and choose not to downsize. The number of homes for sale in March was about half of what it was a year ago, according to In Austin, Texas, Jacksonville, Florida, and Raleigh, North Carolina, the year-over-year inventory decline has exceeded 70%. (News Corp, parent company of the Wall Street Journal, operates

The market has rarely been so competitive, especially for first-time homebuyers or those with limited budgets. Bidding wars are common and new listings don’t last long. Nearly three in four homes sold in February were on the market for less than a month, according to the National Association of Realtors.

Prices for single-family homes across the country rose 12% in January from a year earlier, marking the largest annual increase in data dating back to 1991, the Federal Housing Finance Agency said this week. The nine regions of the country monitored by the FHFA recorded price gains of more than 10%.

In February, the median price of existing homes rose 15.8% from the previous year to $ 313,000, NAR said.

But even with home prices rising rapidly, many homeowners are reluctant to sell because they fear competing for another home in the same market, said Daryl Fairweather, chief economist at Redfin. With mortgage rates so low, many households decided to refinance last year instead of moving.

More stocks could hit the market this spring, which is typically the busiest season for home sales, according to realtors. But there are unlikely to be enough new listings to cool the market. Nationally, there was a two-month supply of homes on the market at the end of February, according to NAR, near an all-time low.

Even the high-priced cities where sales fell last spring are showing signs of growth. Manhattan co-op and condo sales in the first quarter of 2021 surpassed the previous year’s levels for the first time in four quarters, according to broker Douglas Elliman. In San Francisco, home sales in February were up 19% from the previous year, according to Redfin.

Home builders are trying to increase construction to meet booming demand. New construction has rebounded from recession-era lows in recent years, but the country is still short of millions of units. Residential construction activity slowed last spring and accelerated over the summer. But the pace of construction is being constrained by high lumber costs, material bottlenecks and a shortage of land and labor, builders and economists say. The interest in buying is so strong that many builders limit the number of homes they sell at a time. They want to make sure they don’t sell more than they can build.

Economists and executives expect demand to remain robust this year, and they expect the demographic strength to continue for years to come as the great Millennials and Gen Z age. Still, there have been recent indications that price growth may slow down as more homes hit the market. Rising mortgage rates – which are at their highest level since June and have been climbing steadily in recent weeks – could exclude some buyers from the market later this year.

Even buyers elated by the prospect of owning their first home have been devastated by the commitment. Samantha and Doug Hawkins, both 32, left their one-bedroom apartment in Boston when the pandemic struck and entered the home of Ms Hawkins’ parents. They accumulated their savings by not paying rent, and Ms. Hawkins paid off her student loans.

But when they started looking for a home at the end of last year, they struggled to compete with other bidders. They were told sellers wouldn’t consider offers with down payments below 20%, said Ms Hawkins, who works in human resources.

After increasing their budget and expanding their search area, the Hawkins saw their sixth offer accepted in March, for a four-bedroom house in Westford, Mass., Further from Boston than they initially considered. They are under contract and expect the deal to be done in June.

“We are really proud to be able to do this and excited to take this next step in our lives,” Ms. Hawkins said. “But for it to be such a competitive market … It just takes some of the joy out of the process.”

Write to Nicole Friedman at


(END) Dow Jones Newswires

April 03, 2021 00:14 ET (04:14 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Source link

]]> 0
Tucson anesthesiologist entered intensive care at height of pandemic Wed, 07 Apr 2021 23:16:52 +0000

TUCSON (KVOA) – Throughout the pandemic, many of us have been helping our neighbors, whether it’s going to an appointment for a vaccine or just knocking on the door to make a connection human when we were locked up at home. But during the COVID-19 pandemic, a group of doctors provided the ultimate help when their colleagues and patients needed it most.

During our winter wave, as our COVID-19 numbers increased daily and hospital capacity was almost at a breaking point, an anesthesiologist from Tucson Medical Center stepped in and entered the intensive care unit.

“A certain sadness, I think, is probably the biggest emotion because these patients are very sick, extremely,” said Heidi Tavel, anesthesiologist.

Heidi Tavel was born and raised in Tucson. This TMC anesthetist and some of her colleagues answered the call when her hometown and hospital needed her compassion, care and expertise. She and some of her colleagues left the operating room for intensive care last Christmas to take care of COVID-19 patients.

“I think when we were first interviewed and I first volunteered, my overwhelming feeling was a sense of duty,” Tavel said. “Here, I was born and raised in Tucson, Arizona. There are sick and dying patients in Tucson, they need my help. ”

More than three months after Tavel’s first shift in intensive care – Pima County reported 85 new cases of coronavirus on Tuesday, but medics say we need to remain vigilant to avoid another spike.

“We have to buckle down and keep doing that for another six, seven weeks. Especially with the supplement that we get from FEMA, we can get through that and then release all of those mitigation efforts very soon,” said Dr Matt Heinz. , Supervisor of Pima County. “But, we have to wait. We don’t want to force another push.”

Tavel says this once-in-a-century public health crisis has only strengthened his career choice. For her, it is a vocation.

“This is exactly why I went to medicine. This is why I went to medical school,” Tavel said. That’s why I put my life on hold and spent 12 years studying and student loans and everything else because when people need us and are sick or dying, we are here, we are doctors. This is our main duty. My number one job is a doctor, my second job is an anesthetist. “

And as unpredictable as this virus is, Tavel says if there is another outbreak and the hospital calls, she will be there in intensive care, on the front line for her community.

Source link

]]> 0
OppLoans Hires Head of Government Affairs Joseph Rubin as Head of Public Affairs and Regulatory Policy | New Wed, 07 Apr 2021 23:16:47 +0000

CHICAGO, February 4, 2021 / PRNewswire-PRWeb / – OppLoans, a leading fintech platform serving middle-income and credit consumers, announced that Joseph rubin will join the company as head of public affairs and regulatory policy. Rubin brings a wide range of expertise in regulatory policy and government affairs by working with financial regulatory agencies, policymakers and business leaders at the federal and state levels.

Rubin is an accomplished lawyer, business executive and government affairs expert with over 25 years of experience in developing consumer credit and access to credit policy. In his new role, Rubin will lead policy development and engagement to provide education, clarity and specific actions to expanding access to consumer credit.

“As we continue to deliver on our mission of educating and working with state and federal lawmakers to create more access to credit for the millions of people in lockdown, Joe’s strong bipartisan expertise in Financial services and government affairs policy will help us expand this important work. ” noted Jared kaplan, CEO, OppLoans. “As a consumer finance platform focused on the daily median income consumer, we will continue to be that financial champion for consumers – which includes building common ground on public policy and common sense safeguards directly with decision-makers. “

Most recently, Rubin was director of the Bockorny Group, a bipartisan government affairs company. He was also the first leader of the Washington DC for MasterCard Worldwide, as a senior executive at the United States Chamber of Commerce and as senior legal counsel at a large Southeastern law firm. Rubin has played a major role in enacting consumer financial legislation, including the FACT Act, FCRA Update, Bankruptcy Reform, and CARD Act.

About OppLoans

OppLoans is a leading financial technology platform that enables banks to deliver accessible products and a best-in-class experience to ordinary, middle-income Americans. Through our unwavering commitment to customer service, we help consumers who are turned down by traditional suppliers build a better financial path. The company has facilitated the issuance of over one million loans and served over 550,000 clients. OppLoans has been ranked among the Inc. 5000 companies for five consecutive years and named the eighth fastest growing Chicago company by Crain’s Chicago Business. The company maintains an A + rating from the BBB and maintains a 4.9 / 5 star rating with over 14,000 customer reviews online, making it one of the highest rated online financial platforms by customers. For more information, please visit

Media contact

Wendy Serafin, Opp Loans, 312-212-8029 x684,

SOURCE Opp Loans

Source link

]]> 0
Selling a home can be easy with Seattle Home Buyers, I Will Buy House. Wed, 07 Apr 2021 23:16:45 +0000

The I Will Buy House team can help make life easier for homeowners looking to sell their home hassle-free.

Selling a home in Seattle can be stressful, with months of uncertainty in the market, cleaning, repairs, multiple visits, closing costs, commissions and open houses. Selling a property the traditional way can add more stress and make matters worse.

However, when homeowners choose to work with Seattle home buyers, I Will Buy House, they can rest assured that they are selling their home without any strings attached. Alex and Viktor, founders of I Will Buy House, joined forces in 2015.

The duo understand that life can put people in unfortunate situations they need help getting out of quickly, which is where they step in. Whenever they work with an owner, they always put themselves in their shoes.

Alex and Viktor can relate to owners who are struggling as they have been in difficult situations themselves. Viktors’ parents moved to the United States when he was only three years old after being persecuted in his country.

They settled in Washington and worked very hard to support their families. Sometimes their efforts weren’t enough and Viktor and his siblings would go to bed hungry. When the 2008 housing crisis hit, Viktor helped his parents after losing their home to foreclosure.

Likewise, Alex’s family moved to the United States when he was nine due to a lack of jobs in his home country. During the first years of their life in New York, their family lived off food stamps. Alex worked hard full time to support himself throughout college and pay off his student loans.

Viktor and Alex started their business when they saw their family and friends hurt by the 2008 housing crisis. So when they talk to homeowners facing challenges in their lives, whether they are related to the health, finances or family, they can sympathize with them because they know how much pain and anguish these problems can cause.

Working with I Will By House is straightforward, starting with a phone call to discuss the details of the property of interest; Once the company has reviewed the information, they can usually make a fair, all-cash offer within thirty minutes. From there, the fence can be done in about two weeks or entirely depending on the schedule and owner’s requirements.

They never have to worry about paying closing costs or worrying about the sale failing at the last minute.

Those looking for home buying businesses in Seattle are encouraged to contact I Will Buy House, where we buy homes for cash in Seattle. To learn more about the company and their easy home buying process, visit their official website and fill out a form to get a cash offer at

Contact name: Alexandre Romanav


About I will buy a house

I Will Buy House is a Washington state-based home buying company that helps people facing difficult situations such as foreclosure, taxes, divorce, and more. I Will Buy House is proud to buy a home in Seattle and is proud to help members of its community.

Source link

]]> 0
What alumni need to know Wed, 07 Apr 2021 23:16:40 +0000

Former students who attended the ITT Technical Institute – or ITT Tech – may be able to write off some or all of their student loans, thanks to a new rule against the now-defunct for-profit school.

a sign in front of a mirror: ITT Tech Institute Administrative Office

© The Washington Post / Getty Images
Administrative office of the ITT technical institute

ITT Educational Services – the parent company of ITT Tech – filed for bankruptcy in 2016. But many students ended up with millions of dollars in student loans for a school they no longer attend. Last year, ITT Tech settled a lawsuit with the Consumer Financial Protection Bureau (CFPB), guaranteeing that 35,000 former students will have their student loans wiped out.


Loading error

Here’s what the lawsuit says and which students can benefit from the settlement.

ITT Tech trial overview

Although ITT Tech filed for bankruptcy in 2016, hundreds of thousands of students were still on the verge of paying off their outstanding student loans. However, the 2018 lawsuit settlement allowed 750,000 students to write off their debt.

This lawsuit helped students who attended ITT Tech from 2006 to 2016, as well as other students who made payments after the company went bankrupt. Under the settlement, federal student loans were canceled, thanks to the “borrower’s defense” rule, which protects borrowers whose schools have misled them or engaged in wrongdoing.

However, private student loans do not offer this protection, leaving thousands of students still responsible for paying their loans. For example, Navigate still required payments even after the government paid off federal student loans and found ITT Tech guilty of fraud.

In June 2019, CFPB reached an agreement with ITT Tech that released approximately $ 168 million in private student loans. In August 2019, CFPB reached additional settlement, including a judgment against ITT for $ 60 million and an injunction prohibiting ITT from re-offering student loans.

In September 2020, CFPB reached yet another settlement, requiring ITT to give up $ 330 million in outstanding student loan balances. In total, ITT Tech has written off over $ 500 million in private student loan debt.

Who will get an ITT Tech refund?

Gallery: 6 Smart Ways to Spend Child Tax Credit Money (Money Talks News)

a group of people seated at a table: this story originally appeared on The Penny Hoarder.  The $ 1.9 trillion coronavirus relief bill that President Joe Biden enacted into law will provide direct financial assistance to parents across the country, in addition to stimulus checks of $ 1,400.  The new law, the American Rescue Plan Act of 2021, extends the child tax credit up to $ 3,600 for qualifying families for each child under age 6 and up to $ 3,000 for each child under. 6 to 17 years old.  This is an increase over the current tax.  $ 2,000 credit per child.  Half of the tax credit will be paid out in monthly payments from July to December, meaning eligible families could receive up to $ 300 per month for children under 6 or up to $ 250 per months for older children.  The second half of the tax credit will be included as a refund when parents file their 2021 taxes next year.  The amount of money families are entitled to will begin to decline for single parents earning over $ 75,000 a year, heads of households earning over $ 112,500, and married couples earning over $ 150,000.  While there is nothing in the law that requires how the child tax credit money is to be spent, we have found a few ways that parents could use this money to financially benefit their children.  It's not the usual blah, blah, blah.  Click here to sign up for our free newsletter.  Sponsored: How To Find Cheaper Auto Insurance In Minutes Getting a better auto insurance deal doesn't have to be difficult.  You can have Le Zèbre, insurance comparison site, compare quotes in minutes and find yourself the best rates.  Consumers are saving up to $ 670 per year, according to the site, so if you're ready to get your new rate, start now.

To see if you are eligible for your loan cancellation or repayment, you must first check if you meet certain conditions.

For federal student loans, you are eligible for a closed loan discharge if:

  • You attended an ITT Tech school that closed (or it closed shortly after your withdrawal).
  • You have not completed your study program.

This allows you to offload up to 100 percent of your federal student loans.

If you withdrew from ITT before May 6, 2016, completed a program at another institution, or completed all courses in your program (even if you did not graduate), you are not eligible to get your loans discharged.

If you have graduated but believe you have been the victim of ITT Tech fraud, you may be eligible for defending the borrower. The program has been plagued by delays and outright denials of relief in recent years, but the Biden administration recently announced that it will make forgiveness easier for eligible borrowers. The move is expected to affect 72,000 student loan borrowers whose borrower defense claims have been approved but not met.

Private student loan borrowers have similar loan cancellation requirements, but there is a good chance that a lender will contact you regarding your eligibility and you will not have to do anything on your own. However, if you haven’t heard from anyone, you may need to contact your loan officer to review your options. You can also contact the CFPB to see how to get relief.

Next steps

If you attended ITT Tech and have outstanding student loans, you may be eligible for cancellation, discharge, or refund, depending on your loans and the status of your program. For most borrowers, you will be notified by PEAKS – a private student loan program that manages ITT Tech – or your loan manager if you are eligible for your student loan waiver. In most cases, you won’t have to do anything.

If you haven’t heard from anyone, you should contact your loan officer. Your service agent should be able to walk you through the process and know when you attended, if your loans are eligible for relief, and how much you are entitled to.

If you don’t get any help from your loan officer, you can fill out a borrower defense form or closed loan discharge to get help with your federal student loans. You may also be eligible for a state tuition recovery fund, depending on your school and your status.

Private student loan borrowers who do not receive assistance from loan officers may want to contact the Consumer Financial Protection Bureau or a lawyer.

Learn more:

Continue reading

Source link

]]> 0