Bankruptcy

Bankruptcy

Can Bankruptcy Be An Option With Education Loans?

In case you file for bankruptcy and have student loans, those loans will almost certainly not be discharged. This is on account of the government’s 1998 change in its rules concerning bankruptcy and student education loans. Student loans were ruled to be non-dischargeable as many financial institutions had been losing millions of dollars. And when federally guaranteed loans were charged off by way of bankruptcy, the government lost millions of dollars.

Are Your Finances Suffering Because of Past Due Debts?

People file for bankruptcy when they need severe financial help. They have large debts and no money in which to make the payments. Due to the recession and the poor economy, many people have found their bank accounts quickly depleted and struggle just to make ends meet. If you find yourself buried in debt, with no way out, then you may need to file bankruptcy.