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 you unable to manage your credit card bills? Are you looking out for a way to get rid of your debt? The best way to control things and clear your debt is by using the credit card debt consolidation. This is nothing but consolidation of all your bills into one so that you will have to deal with only one repayment instead of too many.
In 2005, new credit card bankruptcy laws were passed. The laws impacted consumers in many ways.
General questions regarding Chapter 13 bankruptcy Information will be discussed in this article. For detailed information about filing and if you can qualify is best left to a lawyer who is experienced in this branch of law. As a courtesy, an interview is often given at no charge.
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.