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
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.
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
It’s New Year’s Resolution time and what better way to start your budget than to figure out where you are? Every good resolution requires knowing where your starting point is. So in the in the next few posts, we are going to analyze your finances, determine a good budget and make a plan to deal with
Soon after you file bankruptcy, you should expect new bills and phone calls from creditors to stop. Sometimes they don’t. Why? They hope you’ll pay them anyway…without consulting your attorney, and sometimes people in bankruptcy do this. Remember, once you file your petition, the court imposes an “automatic stay” against creditors. It stops all collection
You may have recently heard news about the Credit CARD Reform Act of 2009. It just went into effect on February 22, 2010 and is intended to provide various protections to consumers to combat the wily tricks of the credit card companies. Here’s a great cartoon video (which I saw posted on the Center for
The New York Times had a great February 11 article in its Real Estate section (“Mediating in Slow Motion“) that highlights the challenges of fighting foreclosure in Connecticut. The article features my clients and does a great job of examining the effectiveness (and lack of effectiveness) of Connecticut’s foreclosure mediation program. (Appropriate commentary from BAPCPA
As discussed in a previous post on this blog, most Connecticut residents who file for bankruptcy do not actually need to go to the Bankruptcy Court and appear before a Bankruptcy Judge. Instead, the only in-person interaction with bankruptcy officials comes at your 341 Meeting of Creditors when you meet with the trustee for your