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October 2015 Archives

Trouble discharging student loan in bankruptcy linked to Congress

As most workers in Washington already know, it is difficult -- if not virtually impossible -- to embark on a financially successful and personally fulfilling career without a degree from an institution of higher learning. While demand for college graduates increased, so did the price of college attendance, and many students are now faced with the decision to take out loans to attend school or skip the experience altogether. Now loaded down with debts that are often difficult to pay back, many students are realizing the helpful role that bankruptcy can play in their financial situation, even if their loans are not dischargeable.

When choosing bankruptcy isn't easy, we're here to guide you

Many of the details and information concerning bankruptcy that makes the news concern businesses that are navigating a Chapter 11 reorganization. This information is no doubt interesting to consumer groups in Washington, but it has little bearing on debt relief that can be achieved through personal bankruptcy. We understand that choosing bankruptcy might not be the clearest or easiest choice, especially when much of the information in the media only pertains to a process that cannot help the average individual.

For some patients, bankruptcy best option for medical debt relief

Medical debt continues to be one of the largest financial troubles that burden people in Washington. Most people remain in the dark and confused when it comes to figuring out what exactly their next medical bill will cost, and sadly, some even avoid seeking necessary medical care out of fear of taking on more debt. While predicting the cost of visiting the doctor is getting somewhat easier, medical debt relief is still often best accomplished through a successful bankruptcy filing.

New proposal could create student loan relief in bankruptcy

Bankruptcy is an enormously useful tool for individuals who are suffering financially to discharge their debt in order to get a fresh start. However, one type of debt has remained, perhaps unnecessarily, difficult to discharge despite the growing number of people who are unable to pay it back. A new proposal from President Obama could possibly make it easier for some people in Washington to discharge student loans that they are simply unable to pay back in bankruptcy.

What is Chapter 7 bankruptcy anyway?

When under the pressure of overwhelming amounts of debt, it can feel as if there is no way out. Bankruptcy can create a glimmer of hope and help relieve some or all of that debt. However, some confusion still exists about what exactly Chapter 7 bankruptcy is and how it works. For those unfamiliar with bankruptcy law, this is entirely understandable. Before making the decision to proceed with a bankruptcy filing, most people in Washington can benefit from a more in depth understanding of the process.