Blog Category: Loans

Vehicle loans are one of the most popular loan types in the country, and for good reason. To make a living, most people require reliable transportation. When people file Chapter 7 bankruptcy, one of the main concerns they have is whether or not they will be able to obtain a car loan afterwards. While you  … Read more

Repossession is the process in which the lender of your vehicle takes the ownership back for lack of payment. The auto lender doesn’t need to warn you or provide the court’s orders regarding the same. It is almost always included in the contract that you signed when purchasing the vehicle. The laws for vehicle repossession  … Read more

It is a common misconception that student loan debts cannot be discharged through a bankruptcy filing. This statement has often been dismissed as a myth by many judges and bankruptcy professionals. If you have been overburdened with enormous student debt, you should consider filing for bankruptcy. Can you ignore your student loans? If you have  … Read more

When lessee files for a Chapter 13 bankruptcy, he/she is provided with certain broad protections by the law. 11 U.S Code has stated that when Chapter 13 petition is filed, it operates as a stay that is usually applicable to all entities or on any act of the lessor to gain back the possession of  … Read more

Debt consolidation loans work by taking out a loan on secured properties, like a home, and the money is used to pay outstanding debt. This could be a good tactic if you will be able to pay off several high-interest credit cards and loans. Often the one monthly payment will be less than the combined  … Read more

Most courts are reluctant to eliminate student loans in bankruptcy. You have to prove that you are unable to work and have no prospects of getting a job due to a disability. Congress has made it difficult to discharge student loans. You must prove an “undue hardship” by paying it back. The bankruptcy judge will  … Read more

A car payment is one of the more common types of secured loans. Most of us enjoy having access to transportation whenever we want it. We need to be able to get to our jobs, school, grocery stores, and doctors easily. Having a lifestyle that allows us access to transportation usually comes with a car  … Read more

When creditors obtain a judgment against a debt you owe them, filing Chapter 7 bankruptcy can discharge the debt. However, if the debtor has obtained a property lien, bankruptcy won’t automatically wipe it out. In essence, debt owed to a creditor and the lien created to secure that payment are separate. Liens Explained When a  … Read more

In a story that has been unfolding over the last 4 years, students who were defrauded by colleges are still waiting to have their debt forgiven. The problem stems from a string of for-profit colleges, mainly Corinthian College, which closed in 2015. The next year, the Department of Education announced they would allow borrowers who  … Read more

When considering bankruptcy, you may encounter unique and creative ways to protect your assets and prevent declaring bankruptcy. Sometimes these methods work and in other cases they delay the need to declare bankruptcy. Cash-out refinancing preventing bankruptcy is one strategy. It is a one of these methods that could give you access to seemingly cheap  … Read more