On January 27, 2016 the Federal Trade Commission filed a lawsuit against DeVry University alleging the for-profit school deceived prospective students by exaggerating post-graduation job prospects. This constitutes a violation of the FTC Act and the complaint asks the court to provide redress to consumers and prohibit DeVry from further violations.  Additionally, the U.S. Department of Education (DE) has taken separate action to require DeVry to stop deceptive advertising claims regarding its graduates’ employment success and to implement procedures to insure the truthfulness of post-graduation employment claims. These enforcement actions may open the doors for DeVry graduates to request student loan debt relief. 

Published in DeVry
Tuesday, 09 February 2016 00:00

Closure of Marinello Schools of Beauty

Marinello Schools of Beauty operates 56 cosmetology schools across five states, including two locations here in San Diego (Miramar and El Cajon).  On February 4, 2016 Marinello suddenly shut down all of its locations leaving 4,300 students unable to continue their education and 800 employees out of work.

 The sudden shut down came after the US Department of Education denied recertification of Marinello’s eligibility to participate in federal student aid programs.  According to the Department of Education website, Marinello was notified on February 1, 2016 that its participation would end effective February 29, 2016.  Three days after Marinello received this notification, it shut down all locations.

Published in Marinello

An important factor that sets student loan debt apart from all other kinds of debt is that it’s just about impossible to rid yourself of it. Even borrowers that end up in such financial burdens file for bankruptcy and struggle to get a fresh start void of their student loan debt.

But a few cases working their way through the legal system could alter that. They increase the possibility that the courts might offer a loose definition of how difficult the borrower’s financial situation is before a bankruptcy judge can justify discharging his or her loans.

Published in Student Loans
Thursday, 21 August 2014 00:00

Loan Forgiveness

Loan Forgiveness

When one's student loan debt isn't managable and exedes one's income, it may cause the loan barrower to abandon the prospects of a career in a low-paying profession. For instance, a public defender or prosecutor can have more than $100k in law school debt, but a greatly lower beginning salary, yielding a debt-to-income ratio of 2:1 or more.

Loan forgiveness that requires the borrower to work in a particular occupation is tax-free under the current federal laws. Other types of debt forgiveness are treated as your income to the borrower, leading to what may be considered as a tax liability.

loan forgiveness | debt relief | debt relief services

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I had no idea where to start with my bankruptcy and process. After my first meeting with DJ I felt confident that things were going to go well. He helped guide me through the entire process and time. 

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D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

Client Testimonial

To whom it may concern,
Mr. Rausa is extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted Mr. Rausa and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
Sincerely,
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CJW
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