Data compiled by the Federal Reserve Bank of St. Louis shows that student loan debt increased by 107% during the last decade -- yet, student loans are frustratingly difficult to eliminate even in bankruptcy. Things may be looking up for drowning borrowers, however....
Month: January 2021
Can lenders come after a co-signer during bankruptcy?
You have decided that it’s time to declare bankruptcy. Perhaps you lost your job, ran into excessive credit card debt, accumulated massive medical bills or something else entirely. No matter why it happened, you’re facing financial challenges that can only be overcome...
Cash advances on credit cards can trap you in serious debt
People use credit cards to pay for purchases or bills. Most credit card balances come from purchases made directly with the card at the point of sale. However, the companies that issue credit cards eventually realize that many people need financial resources to pay...
Can I convert my Chapter 13 bankruptcy to a Chapter 7?
When you decided to file for bankruptcy, you chose Chapter 13 to be able to save your car and your home. Since then, however, you got laid off from your job and can no longer afford to make the monthly payments that you agreed to pay your creditors. What can be done...
Is there anything I can do to avoid repossession of my vehicle?
A common question that debtors ask is whether filing for bankruptcy can stop their vehicle's repossession. Whether pursuing this option will help depends on how far behind you are in making payments and how willing your lender is to work with you. What happens when...
Unable to pay your student loans? Things could be looking up
If you are one of the 45 million or so people with a student loan, there could be good news on the way. Lawmakers are talking about two pieces of legislation that could help people escape the weight of student loan debt. Student loan forgiveness could be on the way...
