Changes Coming to Student Loan Bankruptcy Rules
The Department of Education is reviewing the current ‘undue hardship’ standard when it comes to discharging student loan debt in bankruptcy. Judges generally require borrowers prove that they cannot maintain a “minimal standard of living” while repaying the loans, that their circumstances will not change for a significant amount of time and that they have made “good faith efforts” to repay the loan before filing for bankruptcy.
What Are the Consequences of Ignoring a Debt Collector?
Ignoring calls from a debt collector can be tempting, but is it always a good idea? Ignoring a problem does not make it go away, and this is especially true with debt. One of the worst things that can happen if you ignore a debt collector is that it can result in you being sued. If a judgment is entered against you for an unpaid debt, it can result in your wages being garnished, even funds being withdrawn from your bank account.
Disabled no longer face tax penalty after Student Loan Debt is forgiven
The Dangers of Filing for Bankruptcy Pro Se
Date: April 23, 2018
FOR IMMEDIATE RELEASE
Tips for Buying a Home after Bankruptcy
One of the biggest fears individuals face prior to filing bankruptcy is that they will never be able to qualify for credit again or even own a home. The fear of filing for bankruptcy keeps many people struggling with insurmountable debt they will never be able to pay off.
Auto Loans in Bankruptcy - Can You Keep Your Vehicle?
One of the biggest worries individuals facing bankruptcy have before beginning the process is what property they will lose. Will they lose their home or their cars? This is one of the biggest misconceptions and common bankruptcy myths. In fact, many of our clients are able to keep the majority of their possessions when they file for bankruptcy. It is very likely you will be able to keep certain pieces of property, including your vehicle when you file for bankruptcy.
The Cost of Bankruptcy and How to Pay for It
If someone is considering filing for bankruptcy, the odds are he or she may have trouble coming up with the money to pay for bankruptcy or hire an attorney to help him or her file. It is important to know what to expect before filing for bankruptcy and the costs associated with it.
The Dangers of Debt Settlement and Debt Relief Companies
The saying goes that if it sounds too good to be true, it often is. This sentiment could not be truer than with debt settlement and debt relief companies. If someone is facing debt collection, he or she is likely to take any help that is offered. And these type companies know it; they prey on your vulnerability. Here are some facts about debt settlement and debt relief companies.
Is There a Limit to How Much Debt I Can Wipe Out in a Chapter 7 Bankruptcy?
Every bankruptcy situation is different. Many of our clients come into the process with enormous amounts of debt while others do not. Clients often ask us, is there a limit as to how much debt I can wipe out in a Chapter 7 bankruptcy?