THE STUDENT LOAN “DEBT BOMB”

AMERICA’S NEXT MORTGAGE-STYLE ECONOMIC CRISIS? A Report Prepared for the National Association of Consumer Bankruptcy Attorneys (NACBA) February 7, 2012 EXECUTIVE SUMMARY Americans now owe more on student loans than on credit cards. The amount of student borrowing crossed the $100 billion threshold for the first time in 2010...

Can I afford a Chapter 13 Bankruptcy?

Gossip, rumor and street lore. Don’t depend on them to make important financial decisions for yourself. Consult a professional. When it comes to bankruptcy, speak with an attorney who has considerable experience with Chapter 13. Many attorneys have experience with Chapter 7 but are not competent to file Chapter...

Alternatives to Chapter 7 Bankruptcy

Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy...

Chapter 13 | Do Some Financial Homework

It is indeed tax time and all of us are looking for deductions that will help lower both our State of Michigan and our IRS taxes. If you look hard enough, you can find critical deductions hidden in a variety of places. Deductible Mortgage Interest: If your Chapter 13...