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We recently discussed the link between healthcare costs and bankruptcy in our blog titled "Medical Issues Can Lead to Bankruptcy." According to CNBC, recent studies by NerdWallet Health, show startling statistics revealing that healthcare is the leading cause of...
In a recent appeal before the U.S. 9th Circuit Court of Appeals, Michael Hedlund has given hope to students drowning in student loan debt. Mr. Hedlund was able to discharge (eliminate) $58,000 of his $85,000 student loan debt. Hedlund's case may be important to you...
If you are struggling to pay your mortgage and trying to avoid foreclosure, you are likely considering filing for bankruptcy or attempting a short sale. Many clients ask which option is better. The answer depends on your unique circumstances, but below are a few...
When you file a Chapter 7 or Chapter 13 bankruptcy, the automatic stay is immediately effective. The stay prohibits creditors from continuing any collection activity during the bankruptcy case. Thus, because the stay is effective as soon as your petition is filed, the...
If you are considering filing a Chapter 7 or Chapter 13 bankruptcy and you are married, you must decide whether you will file jointly as a married couple or if only one of you should file. There are numerous factors to consider in making this decision. For example:...
One of the most common myths about bankruptcy is that it forever destroys your credit. While it takes time to improve your credit score after a bankruptcy filing, with patience and hard-work, a debtor can rebuild his or her credit. It is important to understand what...
According to the American Federation of Teachers in New Jersey (AFTNJ) student loan rates for more than 7.4 million students with federal "Stafford loans" are scheduled to double July 1, 2013. If nothing is done, the current rate of 3.4% will increase to 6.8%. The...
A recent study performed by researchers from the Fred Hutchinson Cancer Research Center in Seattle revealed that cancer patients were twice as likely to file for bankruptcy as individuals without cancer. The report linked bankruptcy court records and information from...
If you are considering filing for Chapter 7 or Chapter 13 bankruptcy, it is important to understand the consequences. There are pros and cons to filing for bankruptcy protection. Below is a summary of the good and bad: Pros of bankruptcy: The majority, if not all of...
Most of us assume that with the strict regulations governing bankruptcy, it is unlikely that bankruptcy fraud crimes still occur. However, a Bethesda woman who pleaded guilty to using a bankruptcy scheme to defraud creditors was recently sentenced in federal court to...