National Public Radio aired a great interview this week with recent college graduates to talk about their student loan debt. Student loans are often categorized as “good debt” or an “investment”, but as some of the interviewees note, it’s hard to imagine an 18 year old fully knowing what they’re getting themselves into when they…Read more
Colorado Bankruptcy Median Income As Of April 1, 2014
The United States Census Department has issued new median income numbers for Colorado as of April 1, 2014, which are as follows: Household size: 1 – $50,978 Household size: 2 – $66,663 Household size: 3 – $72,180 Household size: 4 – $84,551 *Add $8,100 for each individual in excess of 4. Determining the household income…Read more
How Debt Settlement Can Come Back To Haunt You At Tax Time
One of the things that I talk about during initial consultations with potential clients are alternatives to bankruptcy. The biggest one, of course, is debt settlement. Debt settlement is where the lender agrees to accept a smaller amount than what’s owed to satisfy a debt. For someone struggling to figure out how to take care…Read more
How Chapter 13 Bankruptcy Can Help You Manage Your Student Loans
If you have been researching bankruptcy as an option to help you eliminate student loan debt, you know that the chances of that happening are almost zero. Student loans are virtually impossible for the typical debtor to eliminate. Even so, bankruptcy can sometimes be an option to help you manage student loan debt by eliminating…Read more
How Chapter 13 Bankruptcy Can Help After Your Divorce
Ask any bankruptcy attorney, and they’ll you that one of the top reasons people come to them is because they’ve recently gone through a divorce. Suddenly, their finances are in disarray. They turned to credit cards to help them make it through the process, paying for things like moving and living expenses and even fees…Read more
Can I Get Rid Of Private Student Loans In Bankruptcy?
It’s fairly common for someone to start a consultation with the phrase, “I read on the Internet…” When it comes to student loans, that phrase usually ends with, “that you can get rid of private student loans in bankruptcy.” Unfortunately, just like much other information floating around in the recesses of the World Wide Web,…Read more
8 Tips For Avoiding Credit Card Problems
After medical debt, overwhelming credit card debt has to be the biggest reason our clients come to us for help. For a variety of reasons, like divorce, unemployment, and medical needs, they have had to resort to using credit cards to make ends meet. Credit card use can quickly spin out of control. Below are…Read more
Can I Get My Student Loan Forgiven Or Cancelled?
If you’re dealing with overwhelming student debt, you may be looking to repayment alternatives to help you manage it. Although bankruptcy will rarely eliminate student loans, there are other programs available that provide some relief. Two of those programs are loan forgiveness and cancellation. Which, if any, of these programs you qualify will depend on…Read more
Should I Consolidate My Student Loans?
Many people who we help have one thing in common: they are struggling repaying their student loans. If you are scouring the Internet looking for solutions, the bottom line is this: it is nearly impossible to get rid of your student loans in bankruptcy. If you are young, able to work, and have only been…Read more
Three Ways To Get Your Federal Student Loans Out Of Default
Once you default on your federal student loans by failing to make payments, they’ll be placed in collection status. Your paycheck and tax refund could be garnished. You’ll also be ineligible for any other federal student loans, which may keep you from completing your degree. You can read more about what happens when you default…Read more
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