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.
When you file for bankruptcy, all of your assets are made part of your bankruptcy estate. In most cases, figuring out what your own your assets is easy. Will you be allowed to keep an inheritance that you become entitled to when preparing to file a bankruptcy or even after you file? ? That all
Chapter 7 bankruptcy, also called “straight bankruptcy,” is the most common type of bankruptcy proceeding because it allows you to discharge most debts, meaning that you are no longer responsible for paying them off. Filing for Chapter 7 bankruptcy is often the fastest way to get out from under a debt you can’t to pay. However not
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.