Blog: chapter 7 bankruptcy

Many borrowers still believe student loans can never be discharged in bankruptcy. That is not always true. Federal law allows some student loans to be discharged when repayment would create an “undue hardship.” The process is more difficult than eliminating ordinary credit-card debt, but it is possible in the right case. For borrowers considering student…

When people stop paying credit cards, they often do it because the minimum payments have become too difficult to manage and they are overwhelmed by credit-card debt. The balances may barely be moving, too much of the paycheck may be going toward debt, and something has to change. That is often when advertisements for debt…