AboutRegan Shinski Expertise I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit reporting.
Experience Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports.
Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry.
I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA).
I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage.
In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.
Education/Credentials BA - University of Minnesota
Question My wife and I are looking to file bankruptcy soon. we have met with two different lawyers and and have decided on one in particular. However, i have some student loan questions. I know that i have 4 loans for my bachelors degree that are stafford and i cannot file bankruptcy on. Sallie Mae is letting me do forbearance on these loans.
Then i have a career training loan, listed at a private loan in my account information on Sallie Mae's website. I keep get mixed answer. Can I discharge this loan in the bankruptcy since it is not 'federally back' and a private loan?
Answer Jason:
The law was amended in 2005 to say private student loans cannot be discharged unless the court grants the "undue hardship" clause of the bankruptcy code. This is typically NOT granted. It is used primarily in cases where the petitioner will not be able to work in the next 25 years due to a physical disability. However, some courts are more lenient than others. You should ask your attorney if he/she thinks you would qualify for this exemption.
