Posts

  • 3 Things You Should Know About Bankruptcy And Your Student Loans


    Student loans are some of the biggest debts that many Americans carry. The average student loan debt for students who graduated in 2012 was more than $29,000. With those numbers in mind, it should come as no surprise that many people who consider bankruptcy also struggle with student loan debt. However, while bankruptcy may be an effective way to deal with mortgages and credit card debt, few people wrestling with student loan debt find their answer in bankruptcy proceedings.
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  • Chapter 7 Bankruptcy: Special Considerations For Senior Citizens


    Many senior citizens rely on payments from Social Security or private pension funds to cover their expenses during retirement. Unfortunately, people on fixed incomes often struggle to pay off their debts. If you are living on a fixed income and struggling to pay your bills, bankruptcy might be a good option for you. Here are several things you must consider before making the decision to file. Home Equity and Bankruptcy
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  • Struggling To Keep The Bills Paid In Your Golden Years? Bankruptcy May Go Easy On You


    Bankruptcy is often portrayed as a terrible thing to be avoided at all costs. However, for elderly people facing debt, bankruptcy's negatives may not be so serious, and its ability to get rid of certain types of debt may be even more important. If you're getting older and worrying about your debts, maybe it's time to consider chapter 7 bankruptcy. Elderly People Have More Untouchable Money When you file for chapter 7 bankruptcy, you must first pass a means test before you can proceed.
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  • Chapter 13 Bankruptcy: Reduce Balance And Interest Rates On Car Loans With A Cramdown


    Americans are borrowing more money to buy cars. Despite the economy being in a recessive state, Americans are buying more cars with an increase of 15.6 million units in auto sales. Instead of paying for the vehicle in full, most buyers are opting for car loans instead, as interest rates have lowered. There were 60.5 million car loans taken out in 2014. If you have taken out a car loan previously, and your car is now worth less than what you owe on it, you may be able to apply for a cramdown if you file for chapter 13 bankruptcy.
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