Articles Posted in Bankruptcy

Maintaining a good relationship with your spouse requires work. Hard work. Remaining emotionally connected to your spouse while coordinating the logistics of your daily lives involves true commitment, selflessness, and sacrifice. Debt should not come between you and your spouse. Here are five ways debt can wreck your marriage. 1. Keeping Secrets According to a recent survey, as…

Once your Chapter 13 bankruptcy has been filed, you will make your Chapter 13 Plan payments directly to the trustee for several months. Your first Plan payment must be made no later than 30 days from the date that your case is filed. Once your Plan has been confirmed, usually three to five months later,…

Many people experience a feeling of relief when they see on their credit reports that an old debt has been marked as “Charged Off.” Some think that these debts have been forgiven because a creditor has charged off the debt. But what exactly does it mean when a debt is charged off? You Still Owe…

If you are behind on your rent, bankruptcy may a good option for you. In many situations, Section 362 of the Bankruptcy Code (the Automatic Stay) can stop your landlord from continuing eviction proceedings. In fact, bankruptcy stops eviction in almost every case, but not all. If your landlord has obtained a writ of possession,…

Student loans remain valid debts after discharge in either Chapter 7 bankruptcy or Chapter 13 bankruptcy. However, paying your student loans in Chapter 13 bankruptcy allows you some breathing room to pay your other debts. What Is Chapter 13? Chapter 13 bankruptcy is sometimes called the “wage-earner’s bankruptcy.” Many people who do not qualify for Chapter…

You can discharge only very old parking tickets in bankruptcy, after they have been sent to a third-party debt collector. Otherwise, parking tickets pass through the Chapter 7 bankruptcy discharge because they are debts owed to a “governmental unit.” Parking Tickets in Bankruptcy Unfortunately, in most cases parking tickets cannot be discharged in Chapter 7…

America’s student-loan debt grows by $2,726 every second. Total student loan debt in the United States has topped $1.3 trillion, second only to mortgage debt. Nearly one-third (30%) of Americans know someone who has delayed the purchase of a home because of student loan debt. And more than half of those expect that delay to last longer…

Deuteronomy defines bankruptcy in the Bible. But the Bible also frequently mentions lending, fair pay, creditors, interest payments, and money in general. Let’s start out with one of Jesus’ most important messages before we take a look at the Old Testament. The Golden Rule You may know of the so-called Golden Rule from the Sermon on…

An early 2016 study by insurance and investing behemoth Northwestern Mutual revealed some interesting insights into several issues impacting people’s long-term financial security. Here are the top 9 financial fears in America. The 9 Biggest Financial Fears for Americans Number One and Number Two on the list of biggest financial fears are really just the same thing:…

Section 523 of the Bankruptcy Code provides that student loans are not dischargeable in bankruptcy. But unpaid tuition is not a student loan. While it is extremely difficult to discharge student loans in bankruptcy, unpaid tuition is dischargeable in bankruptcy. 11 U.S.C. 523(a)(8) provides that, absent undue hardship, a debtor cannot discharge student loans. The…