March 2014 Archives

Student loan debt and bankruptcy

There is no question that for many individuals, filing for bankruptcy is the best course of action they can take. Though the process may be stressful, for most, being able to discharge the debt that is undoubtedly dragging them down, makes it well worth it. While most types of debt are dischargeable, there are some that debtors remain responsible for. For example, taxes and back child support must be paid. This is generally the case where student loan debt is concerned as well. There are some exceptions however.

Many turn to credit cards in financial emergencies

There are usually multiple factors that contribute to a resident of Minneapolis or St. Paul, deciding to file for bankruptcy. Credit card debt is one of those factors. The reasons behind each person's credit card debt vary but may include the loss of a job or medical emergencies. While ideally, an individual will have savings set aside to cover several months of living expenses should a financial emergency arise, not everyone is able to accumulate that kind of money before it is needed. In these situations credit cards are often relied upon.

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New Brighton, MN 55112

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