Generally speaking, it is not possible for most people to discharge a student loan. Federal rules limiting the discharge of student loans in bankruptcies have grown more and more restrictive over the years. Federal student loans were made non-dischargeable in the 1970s, and in 2005, Congress passed a law exempting private loans from discharge as […]
Can I Discharge a Judgment in Chapter 7 Bankruptcy?
If you are party to a lawsuit and lose your case, the court may issue a judgment for money damages against you. Such a judgment is an order for you to pay the money you owe to the plaintiff in the lawsuit. Judgments may arise from many types of lawsuits, including for personal injury, wrongful […]
What is the Difference between a Chapter 7 and a Chapter 13 Bankruptcy?
Millions of consumers every year benefit from consumer bankruptcy. Among the most commonly filed forms of bankruptcy are Chapter 7 and Chapter 13, both can only be filed by natural persons, not by corporations. A husband and wife can file jointly in the same case or file separately. While both Chapter 7 and chapter 13 […]
Should I Use a Debt Settlement Company or Hire a Phoenix Bankruptcy Attorney?
Many people who are experiencing financial distress may consider working with a debt settlement company in order to try and reduce the amount of money they owe. Debt settlement companies work with a person’s creditors and attempt to negotiate a settlement for less than the total amount owed, and typically charge consumers fees based on […]
What Property can I Keep in a Chapter 7 Bankruptcy?
When you file for Chapter 7 bankruptcy (https://ellettlaw.com/chapter-7-bankruptcy), a bankruptcy trustee will take some of your property, liquidate it, and use the proceeds to pay off some of your debts. Though losing property may deter you at first from filing for bankruptcy, you should know that Arizona law provides numerous exemptions that allow you to […]
What are the Credit Counseling Requirements of Personal Bankruptcy?
If you fell you feel like you are financially under water, you may be considering filing for personal bankruptcy. Personal bankruptcy works to discharge the debts of individuals so they may start fresh. However, there are many steps involved in filing for bankruptcy, many of which must be followed completely and accurately in order to […]
How do I a Modify a Second Lien on my Home?
Owning a home is a source of accomplishment and pride for many American families. Your home can also be used as an asset to borrow additional money to cover large purchases or consolidate other debts. For this reason, many people end up taking a second lien on their home. However, your home is also one […]
Which should I File First: Bankruptcy or Divorce?
Divorce can be extremely emotionally traumatic and can bring significant changes in almost every aspect of your life. As if divorce were not stressful enough, it often also causes substantial financial problems for one or both spouses. All of your hard-earned marital assets and property will be equitably divided, so you will lose approximately half […]
How can a Lawyer Help with Credit Card Debt Relief?
Millions of Americans are struggling with credit card debt. Many people do not understand the nature of credit cards, interest, or repayment. At times, a credit card can feel like free money and suddenly a person is facing an overwhelming balance. Other people mistakenly believe that they can make a dent in their credit card […]
How Does the Automatic Stay work in Chapter 7 Bankruptcy?
Falling behind on your bills is always stressful and likely weighs constantly on your mind. You likely have frequent reminders of your overdue bills due to regular phone calls, letters, or other communications by your creditors and bill collectors. It is not uncommon for communications by collectors to reach the level of harassment. Additionally, you […]
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