Blog Category: Loans

In a Chapter 7 bankruptcy, you are free of all debts except for tax payments and other necessary payouts like child support. Your secured loans are also removed from you in the sense that they have some kind of backing in the form of property, so personal liability is removed. Lenders are not free to  … Read more

Debts can be a burden on you, especially when you default and your credit score goes all awry. In many cases, it is actually better for you if you simply file for bankruptcy and deal with your debts that way. However, if you wish to not file for bankruptcy, which again does little to help  … Read more

There are many ways in which payday loans are handled in case of a bankruptcy. First, it is vital that you understand that there are two types of bankruptcies; chapter 7 and chapter 13. A chapter 7 is when your assets are sold and you are liquidated. Payday loans during bankruptcy will be paid off and  … Read more

There is no doubt that Gen X and Millennials now face more debt than prior generations. The student loan debt problem is a real burden among young adults today. The effects are far reaching. Poisoning their take home pay and ability qualify for a home. While we can all agree that college should be more affordable, managing  … Read more

A common question for bankruptcy attorneys is from those who have taken out a loan from a “loan company” or another lender that is not a bank and subsequently hit a rough patch causing them to be unable to repay the loan. What is the best course of action for someone in this predicament? The  … Read more

When you file for a Chapter 7 bankruptcy and have secured personal property loans, you have a choice as to whether you want to relinquish the item be it a car, furniture, electronics or something similar or reaffirm the debt and continue paying for the item even after your discharge. The opportunity to renegotiate the  … Read more

When individuals run into financial difficulty they sometimes panic and make decisions that are not in their best interest. Most often credit card debt or even medical debt can be mounting and there just isn’t enough money from one paycheck to the next after the bills have been paid to get through. What will happen  … Read more

Individuals that are filing for bankruptcy not only have to consider what this action is going to do for them here and now but in the future as well. It is most likely your personal bankruptcy is going to remain on your credit report for at least seven years and maybe up to ten. While  … Read more

You may have heard that since the changing of the Bankruptcy  Code in 2005 that student loans are no  longer  eligible for a debt discharge. This statement, as it reads, is false. While it is true that having a student loan debt discharge can be difficult, it is certainly not impossible. Here is what you  … Read more

The rising costs of tuition, economic turbulence and a less than fruitful job market are part of the recipe for the student loan debt disaster we are experiencing today. With more students borrowing for college than ever before, too many are finding themselves in financial hardship over their repayments after graduating.  So what, if anything,  … Read more