Sometimes, people with seemingly higher incomes and large assets file a personal bankruptcy. This may be due to a temporary financial crisis or a long-term buildup of debt that the individual eventually could not handle. Bankruptcy can be a useful remedy for lawyers,...
Month: September 2014
Pros and cons: bankruptcy versus debt consolidation plan
When a person's unmanageable debt load reaches a critical point, constant harassment, lawsuits, judgments and even executions are the natural order of things. Arkansas citizens suffering in that circular nightmare, or who may be getting close to it, may find...
Proving undue hardship may discharge student loan in bankruptcy
The $1.2 trillion that is owed in the country for student loan debt constitutes the highest amount of consumer debt except for mortgage debt. In prior days, a student loan could be discharged in a bankruptcy as an unsecured debt. However, Congress has passed several...
Bankruptcy still offers an effective path to a fresh start
Surveys indicate that the credit card crisis nationwide, and including in Arkansas, has not ended. There may be more people watching their step and using credit more judiciously these days, but according to one survey by a national credit counseling foundation, a full...