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Personal Bankruptcy Archives

The differences between Chapter 7 and Chapter 13 bankruptcy

Some Arkansas residents may not know that there are different types of bankruptcy that an individual can go through. The two most common, though, are Chapter 7 and Chapter 13. These bankruptcies allow the filer the chance to get out of debt, but the way in which that may be achieved depends on the bankruptcy.

Student debt is very difficult to discharge through bankruptcy

Did you know that the total amount of student debt in this country has reached $1.2 trillion? That figure represents a total that is nearly double the amount of credit card debt in the country ($0.68 trillion) and far surpasses the amount of auto loan debt in the country ($0.86 trillion). As if those figures aren't staggering enough, the $1.2 trillion in student debt -- which represents the 2013 total -- is more than triple the amount of student debt this country had just eight years ago in 2005 ($0.36 trillion).