It's a strange twist of bankruptcy law, but if a debtor does not formally reaffirm his or her home mortgage or other secured loan in bankruptcy, then the debt is no longer owed. This does not mean that the payments don't have to be made; rather, it results in a...
Hard-working people may suffer a medical or financial emergency that is entirely out of their control and not their fault. Illnesses, disability, being laid off at work, accidents and other disasters usually hit without warning and create a substantial and lasting...
So-called zombie debt is a problem created by unscrupulous banks and debt collection companies, both in Arkansas and around the country. Despite the fact that a debtor may have paid off a debt, or that is has been discharged in bankruptcy or settled by a compromise...
On July 7, the U.S. Department of Education issued a letter of guidance on its future policy toward the discharge of student loans in bankruptcy. Due to the massive build-up of defaulted student loans in Arkansas and nationwide, the Obama administration asked the...
