A recent Wall Street Journal article details the plight of many American senior citizens whose Social Security benefits are being reduced on a monthly basis in order to pay back federal student loans. This situation, which is more common than you might think, is causing thousands of elderly individuals to live with an income that falls below the poverty line. Most baby boomers are entering retirement with student loans that they used to finance their own educations, but some have loans that they used to finance their children’s educations. All told, there are about seven million Americans over the age of 50 who owed $205 billion in federal student loan debt. One in three of these individuals are in default on their debts, a number that is likely to increase as more baby boomers retire from the workforce.
As a general rule, seniors who defaulted on their federal student loans have held their loans, which stemmed from their own education, for decades and were subject to an offset or garnishment of the maximum of 15% of their social security benefits. Most of these individuals owe less than $10,000 on their student loans. The offset amounted to about $140 per month. More than half of these individuals were receiving disability rather than retirement benefits. However, about half of these individuals were either able to pay off their loans or obtain cancellation of their debt as a result of the total and permanent disability (TPD) process. Nonetheless, there are annual certification requirements necessary to remain in the TPD process, and if the borrower fails to do so, he or she runs the risk of having the loan reinstated and social security offsets resume.
We are the Wisconsin abuse lawyers whom you can turn to if you suspect or become aware of abusive actions taken toward your loved one while residing in a nursing home or an assisted living facility, whether it is financial, physical, or sexual in nature. Regardless of the complexity or difficulty of your situation, the Madison financial abuse attorneys of Boller & Vaughan are prepared to advocate on behalf of your loved one and hold assisted living or other long-term care facilities responsible for any abuse that has occurred.
The state of Wisconsin, like almost every other state, requires all drivers to carry at least a minimum amount of motor vehicle insurance to cover medical costs and property damage if an accident should occur. […]
After a car accident occurs in which you suffer property damage or injuries, you have only a certain period of time during which you can file a personal injury lawsuit against any parties who are […]
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We live in Friendship, Wisconsin, and Boller & Vaughan came to our doorstep to discuss our mother’s wrongful death claim on a Saturday morning. Not only were we pleased with the large recovery, we were so thankful to have lawyers who were willing to explain to us every twist and turn along the way. It is great to know there is a law firm that will fight for the rights of elderly people all over Wisconsin.
Mr. Boller and Ms. Vaughan were incredible in working on my case and my daughter’s case. I was out of work and in the hospital with a new baby. Mr. Boller and Ms. Vaughan protected our rights and it was a pleasure to work with them. I hope never to be in another motor vehicle accident, however, if I am and I am injured, I will contact Boller & Vaughan immediately.
I was referred to Michelle through a friend. I have never had a better experience. It took a little over a year to get my settlement but the staff there stayed in constant contact and kept me in the loop. Oh, and Michelle actually got me MORE money than we discussed. I will refer anyone to this firm. Words cannot do justice the thanks that I have for Michelle and her staff (Mary especially) thank you guys so much!
After my husband died as a result of a motor vehicle accident, Boller & Vaughan spent countless hours talking with me, meeting with me in person, and making sure that I was okay. The drunk driver who hit us did not have any insurance, and we had to make a claim through our own insurance. Boller & Vaughan was fantastic at explaining the law to me and the handling of our claims.
After my son was injured in a daycare setting, Ms. Vaughan took the time to thoroughly investigate our case and my son’s injuries. Michele was approachable and had answers to our questions. Talking with her helped to relieve many of our anxieties.
