Demystifying The Student Loan Bankruptcy Myth – Throwing Light On The Facts

student loan bankruptcy
The age old belief that student loans can’t be discharged through bankruptcy is one that makes us cringe every time we see it. More and more parents and students are worried about their surging student loan bills as they fear to think about the consequences. Every one is of the opinion that unlike credit card debt or payday loan debt, student loan debt can’t be discharged through bankruptcy and...

Bankruptcy- Chapter 7, 11 and 13 explained

Bankruptcy- Chapter 7, 11 and 13
There are mainly five different types of bankruptcy designed by the United States and each type is identified by the chapter code. In this article we will define bankruptcy-chapter 7, 11 and 13. Chapter 7 bankruptcy: Chapter 7 bankruptcy is likewise alluded to as liquidation bankruptcy. It will free you of your extraordinary obligations, yet the court may drive you to sell some of your advantages with...

Settling your credit card – A review of the pros and cons

Credit cards carry outrageously high interest rates but they can be used properly to maintain a good credit score. Despite knowing this, how many of us use credit cards in a proper way? In fact, there are very few who are even aware of what is responsible usage of credit cards. Are you too following the herd? Do you carry credit cards in your wallet only to misuse them and incur credit card debt? If...

What Happens When You File For Chapter 13 Bankruptcy?

If you currently have more debts than you can pay off, and are unable to find another solution (for example debt consolidation), then you may have to file for bankruptcy. Filing for bankruptcy as an individual, means you will have to meet the terms for one of the available types of bankruptcy for someone in your situation. For the majority of people this will be either chapter 7 or chapter 13.

Doctors Bankruptcy Filings Increase

Doctors have been forced into bankruptcy at higher rates. According to the Public Broadcasting Station, “Half of the primary care doctors in the U.S. are at some financial risk for the care they give.” They are not filing for bankruptcy due to malpractice lawsuits. Simply put, a doctor’s office is a small business. If the business is not operating properly, it will fail. Managing and operating...

Bankruptcy And Bank Accounts: The Facts

If you are unable to manage your debts you may be forced to declare yourself bankrupt in order to escape a vicious cycle of increasing charges, fees and fines with no means of repaying what you owe. Bankruptcy usually lasts for a period of 12 months and is undoubtedly a difficult time but at the end, you have the peace of mind of knowing you can make a fresh financial start.

Your New Year Personal Financial Checklist

With the on-set of a new year, many people review the previous year and make resolutions regarding their spending habits and personal finances.  It can be hard for many to make real, quantifiable resolutions if they are too vague, making resolutions like “I want to save more money.”  More specific information regarding one’s finances, which can be kept on a personal financial checklist,...