If you’re having trouble meeting your financial obligations, a Chapter 13 bankruptcy can be a lifesaver, giving you the breathing room you need while allowing you to catch up on unsecured debt. Even student loans, which are quite difficult to discharge, can be effectively managed through a Chapter 13, even though in some cases they
The rising cost of post-secondary education means student loan debt can climb into the six-figure range. Fortunately, relief is available. The federal College Cost Reduction and Access Act offers options for reducing loan balances through career choices and extended payment plans. Under rare circumstances, individuals who file for bankruptcy can discharge their student loan debt.
Because they live on a fixed income, senior citizens are especially vulnerable to credit card debts, which can quickly spiral out of control. For many of these elderly borrowers, bankruptcy is a powerful tool, offering a way out of debt and providing invaluable peace of mind. Unfortunately, worried about the example they would be setting
There is a lot of talk about filing for bankruptcy on the Internet, but not a lot about what happens afterwards. After a successful filing with the help of a bankruptcy lawyer, you can expect: Discharged Debts: For most borrowers, the most attractive result of filing for bankruptcy is the elimination of most unsecured debts.
Bankruptcy, credit, budgeting, debt collection and taxes are just a few of the topics we discuss at Money Go Roundtable. There are now 19 episodes of Money Go Roundtable up and released through iTunes. What started out as a six episode experiment with Consumer Attorney Jay Fleischman has now blossomed into a full-fledged podcast series.
April 15th is rapidly approaching and we all know what that means – that’s right tax return deadlines. Maybe you have already filed your tax return with the IRS and your state (assuming you have a astate income tax). Maybe you are trying to decide whether or not to file because you know you will owe
The results of a recent study released by Professors Robert Lawless and Jennifer K. Robbennolt of the University of Illinois Law School seems to suggest that people who file for bankruptcy would fare greater chance of success if they would apologize for getting into debt. Really? I mean really. What this study suggest is wrong on
So it’s tax season time again. After the end of January, everyone gets their tax papers and receipts together and attempts to get their tax refunds. And so also, anyone who has defaulted in any debt in the last year needs to watch out for some traps. The first is the concept of ‘charge-off‘. Street knowledge
When you are in financial stress, it is hard to think of anything but dealing with the problem at hand. Human nature is to deal with the present before dealing with the future. After all tomorrow never comes, right? This is precisely when you should be thinking about the future most of all. By dealing only
Last week, we covered the balance sheet – the net of your assets and liabilities. The next step of knowing where you are befoe you can fulfill a New Year’s Resolution is to know what your spending looks like. In fact, budget is not an accurate word, at least not yet. More importantly, is knowing