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July 2015 Archives

Chapter 7 bankruptcy gives mother new outlook on life

Even for individuals who have surpassed living paycheck to paycheck, a single tragedy or financial disaster can be enough to plunge them into unthinkable debt. Medical bills are a prime example for people in Washington, as even those who have health care insurance often face costly co-pays for necessary surgeries and procedures. After taking on thousands in debt following a medical emergency, one mother filed for Chapter 7 bankruptcy and found a bright new future down the road.

Choosing bankruptcy led to success for one entrepreneur

Think that bankruptcy is the end of the line for financial success. An out-of-state entrepreneur successfully smashed that misconception when he rebuilt his business following a bankruptcy filing. For many people in Washington, choosing bankruptcy is not about admitting defeat or giving up control over finances, but it is instead about laying the groundwork for future financial success and stability. 

Guidelines concerning student loans and bankruptcy released

Confusion and controversy concerning student loans and their ability to be discharged during personal bankruptcy is hardly new. While student loans can be discharged in certain situations, more restrictions are leveraged against them than other types of debts. The Department of Education's recently released guidelines concerning the discharge of student loan debts might be a useful tool for Washington debtors who are considering filing for bankruptcy.

Social media complicates former business owner's bankruptcy

Washington residents following the news might have noticed that social media seems to pop up in a surprising number of articles and news stories. Although not necessarily at fault for any of the incidents social media is mentioned alongside, the integrating of technology and popular social media platforms like Facebook and Twitter into daily life is constantly reflected in these types of stories. However, the more integrated social media becomes, the quicker laws concerning bankruptcy and asset forfeiture must evolve to keep up. 

Need debt relief? Choosing bankruptcy is often the best route

Sadly, there often seems to be no end to the number of myths that permeate the world of bankruptcy. One of those pervasive untruths is that people who seek debt relief by choosing bankruptcy are in some ways not quite as intelligent as those who do not. One expert recently weighed in on the matter, making a compelling argument as to why this myth is far from the truth.