A common question young people have after finishing school is, can I discharge my student loans in bankruptcy? Unfortunately, for most people, the answer is no. Unlike credit card debt, student loans do not automatically qualify for a Chapter 7 discharge. Instead, a debtor will have to prove three specific elements in order to receive […]
Some people choose to use a bankruptcy petition preparer instead of a St. Louis bankruptcy attorney for their filing. They do this because a petition preparer is cheaper. The filer might believe they are getting the same service at a discounted price, but this is not the case. The petition preparer has strict limitations on
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A woman in Kansas City has won an $83,000,000 verdict against a debt collection company for unfair debt collection practices. The woman was sued over a $1,000 credit card bill. Unfortunately for the debt collection company, this debt wasn’t hers. The company pursued her for 15 months in order to collect this debt. A judge
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Former students of Corinthian Colleges are calling for help after the for-profit university system declared bankruptcy. Many of these students (both current and former) allege that Corinthian misrepresented job placement stats and other information necessary to evaluate the worth of their degree. Lawmakers across the country are investigating whether Corinthian specifically targeted a specific type
Former Students Seek Redress Against Corinthian Colleges, Inc. Read More »
Many credit counseling companies run ads on TV claiming that they can reduce your payments or negotiate debts without the consumer filing bankruptcy. This sounds attractive to many people because they think it will help them get their debt under control without going through the bankruptcy process. What many consumers find, however, is that the
For older Americans in debt, the thought of filing bankruptcy and losing their retirement accounts is terrifying. These people have worked their entire lives saving to enjoy their golden years and worry that an unexpected illness or job loss may derail years of planning. Fortunately, retirement accounts are generally exempt from bankruptcy. Therefore if you
Some people hesitate to contact a bankruptcy attorney out of fear. They may have heard thing such as their credit will be forever ruined, they won’t be able to get a mortgage, and more that gives them great fear. What they often find, however, is that bankruptcy is not as bad as they think and
One way to check your debt situation is to determine your debt to income ratio. This is the ratio between your monthly gross income (before taxes) and the amount you pay each month to creditors. This is an important ratio because it determines whether or not a person is eligible for a mortgage. Even if
Watch your Debt to Income Ratio says St. Charles Bankruptcy Attorney Read More »
When filing bankruptcy, a person and their St. Charles Bankruptcy Attorney will need to attend the Meeting of the Creditors, also called a 341 meeting. This is an informal meeting that often occurs in a conference room with various creditors. This meeting is done so the creditors can ask questions of the debtor in order
St. Charles Bankruptcy Attorney on the Meeting of the Creditors Read More »
Many people are struggling with student loan debt. As student loan borrowing passes $1 trillion, many young people are finding themselves saddled with six figures of debt with little chance to pay it back. They may turn to a St. Charles Bankruptcy Lawyer for help, hoping these debts can be discharged in bankruptcy. The only
Undue Hardship Explained by a St. Charles Bankruptcy Lawyer Read More »
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the Bankruptcy Code.
