Student Loan Debts and bankruptcy don’t really mix. Although student loans are not forgiven in bankruptcy most of your other unsecured debt is. At one time student loans were forgiven in bankruptcy since that time Congress amended laws several years ago to disallow filing bankruptcy on student loan debt. This includes almost all types of student loan debt: private, governmental,…
Medical Debt and Bankruptcy go hand in hand. Medical debt is one of the leading causes for bankruptcy filings. Even with reform and wider insurance coverage, medical debt and bankruptcy still highly intertwine. Between co pays and deductibles we still find ourselves with medical expenses that are out of control. Often, people are financially stable until a traumatic medical event…
It’s normal for people to not run out and immediately file bankruptcy when financial issues first appear. However, when is the best time to file bankruptcy is a great question? This question is common, but the answer is unique to each circumstance. To get an idea of what might work for you, this article sets out some guiding principles on…
Unlike a Chapter 7, a Chapter 13 bankruptcy does not immediately wipe out all the debts that the court can. Instead, a Chapter 13 bankruptcy creates a plan for paying back a percentage, if not all, of what you owe your creditors. This is done by establishing your monthly income and your reasonable monthly expenses, including things like groceries, medicine,…