When planning for retirement, no one anticipates the foreclosure of their home. In a recent study, one and a half million Americans over the age of 50 has lost their home to foreclosure between 2007 and 2011. Of those Americans, the highest foreclosure rate was...
Month: July 2012
Student loan debt discharged in rare bankruptcy case
Generally, whether you are filing Chapter 7 or Chapter 13 bankruptcy, you are unable to discharge debts to the government, including taxes, court judgments and student loans. In a rare case, a bankruptcy judge wiped out $56,299 of student loan debt. The debt was an...
Misdemeanor fees, debts and bankruptcy
Minor offenses like speeding can result in hundreds of dollars in fines. Suspension or loss of license can leave an employee unable to work. While the government uses a penal system to punish individuals for crimes, many victims of the criminal justice system are...
Facing your debt: a reality check
For most consumers, overwhelming debt is usually the compounding of denial, credit card use, and an unexpected event that leaves them crippled. With the looming national debt crisis, the collapse of the mortgage market, and the widespread economic downturn, it is time...
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