What does bankruptcy, Easter and Passover have in common? Let’s see if you will agree with my analysis. What are the words that pop into mind when you think of bankruptcy? Guilt, sin, slave to debt, fresh start, family, broke, worthless, forgiven and hope. What words come to mind when you think of Easter? Eggs, [...]
Filing for Bankruptcy
Folks frequently come in to talk about bankruptcy and are very concerned that an arrest warrant may be issued as they haven’t paid their debts — either before filing bankruptcy or even after filing for bankruptcy. They have heard about phone calls or emails from debt collectors (or have even gotten those kind of threats) [...]
Last year U.S. Representative Steve Cohen of the Ninth District of Tennessee introduced a bill called the Private Student Loan Bankruptcy Fairness Act of 2011. The bill would make private student loans generally dischargeable in bankruptcy as a way of addressing the mounting student debt crisis that many have written about. This is what the [...]
In 2010, the annual volume of new student loans reached 100 billion dollars. There is now more than a trillion dollars in student loan debt on the books and this type of debt is growing rapidly. A new economic crisis is about to emerge. Student loan debt cannot be discharged in bankruptcy except under the [...]
Top 15 Lies About Bankruptcy Lie #1: Congress Ended Bankruptcy in 2005 Truth-o-Meter: Even though the 2005 amendments to the Bankruptcy Code known as “BAPCPA” were passed a long time ago, we are still hearing a lot of misinformation about this. Some of the worst falsehoods that bill collectors still are saying are: The [...]
Approximately 10-20 folks each week come to my office to talk with me regarding bankruptcy and nearly all of those folks in my office believe that they have failed. That their lives will be ruined because the neighbors will know, the boss will know, the pastor/rabbi will know, and worst of all, their “Mom” will [...]
