“Do not go out hastily to argue your case; Otherwise, what will you do in the end, When your neighbor puts you to shame?” –Prov. 25:8By: Donald L. Swanson It now seems obvious that the Archdiocese of Milwaukee overplays its hand after receiving a favorable ruling from the U.S. District Court in Milwaukee. Here is a chronology: –On January 4, 2011, the Archdiocese of Milwaukee files its voluntary Chapter 11 Petition. –On June 28, 2011, the Archdiocese of Milwaukee files a lawsuit asking the Bankruptcy Court for a declaration that it’s $55 million Cemetery Trust fund is off-limits from creditor claims. –On January 17, 2013, the Bankruptcy Court rules against the Archdiocese on summary judgment, and the Archdiocese appeals to the U.S. District Court. –On July 29, 2013, the U.S. District Court reverses, ruling in favor of the Archdiocese, and the Official Creditors Committee appeals to the Seventh Circuit Court of Appeals. –On March 9, 2015, the Seventh Circuit Court of Appeals agrees with the Bankruptcy Court and reverses the U.S. District Court. The Archdiocese begins its appeal process to the United States Supreme Court James I. Stang — founding partner of the Pachulski, Stang, Zeihl & Jones law firm of Los Angeles
• 45% of survey respondents didn’t know what percentage of their salary went to paying off their loans. • 37% were unaware of the interest rate on their loan. • A very oblivious 15% were even unaware of how much they owe. . 44% claimed not to fully understand the difference between federal and private loans.Ouch. You know what they say. Denial is not a river in Egypt. If you do not know your situation, how can you handle it? How can you budget without knowing what your own student loan debt is?
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