Chapter 13 and Chapter 7 bankruptcy are great tools for lightening a person’s debt load. With both chapter 13 and Chapter 7, you can eliminate medical debt, credit card debt, and other types of unsecured debt. Shrinking your debt can be critical to your financial and emotional health. If the load gets too heavy, something
The Wall Street Journal says that the college graduation class of 2014 is the most indebted class ever in the history of our great nation. Many for-profit colleges across our country have enslaved many of their customers with student loan debt. Recently, the Department of Education has announced some relief to students who were victimized
Bitcoins have the potential to change the way the world does business. I believe bitcoins also have the potential to impact the bankruptcy world. After reading my headline, I bet some of you are asking yourself, “What is a bitcoin?” Bitcoin is a virtual currency that was created in 2009 by an unknown person using
If you are considering filing bankruptcy, I recommend that you close all of your bank accounts with Wells Fargo before you file Chapter 13 or Chapter 7. I realize that it is a pain to get your payroll to change the direct deposit to a new bank account. However, you don’t want to run the
Student loans are a trap that have ensnared thousands of our youth across the United States. The promise of a college education rings hollow for many graduates. Mitch Daniels, former governor of Indiana and current president of Purdue University, does a great job of describing the economic slavery that many college graduates face today. Mr.
Earthquakes are hard to predict. However, I think I see an earthquake coming in the collections and bankruptcy worlds. The Georgia garnishment law might be declared unconstitutional this year. If this happens, all garnishment actions in Georgia will come to a screeching halt. As a consequence, some small collection and loan companies will go out
The Wall Street Journal reports today that Freddie Mac, Fannie Mae and their regulator provided for a “low down-payment mortgage program, which could open homeownership to thousands of cash-strapped borrowers. Here are some highlights: Borrowers could be able to get a mortgage with a down payment of as little as 3%. loans will be available