Those with sizable student loans are often unsure of what their financial obligations related to their education will mean during a bankruptcy. Many people have heard the myth that bankruptcy cannot discharge student loan debts. That claim is not true. There are rules...
Year: 2023
What you should know about “zombie debt”
If you’re dealing with overwhelming debt, it can feel like you owe everyone from the place you went for pizza during college to the gym you left last year because you could no longer afford that luxury. Collectors may be contacting you via phone, text and email every...
Why payday loans lead to financial trouble
To get a payday loan, you need to prove that you have some level of income, and then you’re given an amount of money that you have to pay back when you get your next paycheck. For example, maybe your paystubs show that you make $1,000 every two weeks. A payday loan...
Why those with health insurance often still end up with medical debt
Health insurance assists people with the basic costs of maintaining their health and treating any concerns that arise. People trust that the health insurance they purchase or receive through their employer will allow them to get the care they require if they have a...
Can you manage your student loan debt after graduation?
You’ve just graduated college and now you’re looking at a large number of student loans for your troubles. It’s likely going to take some time before you can pay off all of your student loans. Seeing how much you have can be overwhelming. How are you going to pay it...
What are your options when resolving credit card debt?
Getting a credit card can help in a lot of ways. It can help pay for gas, food, school books, clothes or even the occasional night out. But, eventually, creditors are going to want their money back and you’ll be responsible for paying it. There are many ways you can...
2 reasons that credit card debt could be impossible to overcome
Credit cards are important financial resources that give people flexibility between paychecks. Having revolving lines of credit can mean that someone is able to absorb unexpected expenses or a sudden drop in income due to injury or illness. Unfortunately, people often...
4 mistakes to avoid when filing for bankruptcy
Filing for bankruptcy can be a difficult decision, but it can also be the first step toward regaining financial freedom. Therefore, it is prudent to understand how things work and what you can do to make the most of the bankruptcy process. An excellent starting point...
Can I get a mortgage after bankruptcy?
People often worry about declaring bankruptcy because they think that it will make future borrowing impossible. For example, maybe you’re facing medical debt and credit card debt that you would like to eliminate through bankruptcy. But you’ve also always dreamed of...
How does the automatic stay impact garnishments and collections?
People who’re swimming in debt may benefit from filing for bankruptcy. A person who takes advantage of this opportunity will have the benefit of an automatic stay, which is a court order that halts collection attempts by creditors. The automatic stay, garnishments and...
