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...
Bankruptcy
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...
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...
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...
Why do some people delay filing for bankruptcy?
Filing for bankruptcy protects you from high debts and lawsuits. Thus, it's vital to know when you should file for one . Nonetheless, some people overlook filing for bankruptcy, resulting in more trouble that they could have avoided if they had acted sooner. Here are...
Can bankruptcy affect your job search?
You may have heard horror stories about people losing job opportunities because they had bad credit. Now you may wonder how it will affect your job search if you file for bankruptcy. But bankruptcy doesn't have to be a roadblock to employment. Bankruptcy is more...
How a debt spiral draws you in
People who are considering bankruptcy have sometimes found themselves in a debt spiral. They never intended to be here, but it seems like their situation is just continuing to get worse. They are still trying to make their payments on time and to make wise financial...