Bankruptcy Law: An Untapped Resource for Student Loan Relief
In recent years, the burden of student loans has weighed heavily on millions of Americans. This burden was exacerbated by the Supreme Court's recent decision to strike down President Biden’s student loan forgiveness plan..........
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Do Medical Bills Affect Your Credit Report?
Ever asked yourself, "Do medical bills affect your credit report?" The short answer is yes, they can. However, recent changes have made it less likely for medical bills to severely impact your credit scores. In this article, we will explore the relationship between medical bills and credit reports, provide tips..........
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Student Loans and Bankruptcy: A Game-Changer in Debt Discharge
As we edge closer to October, millions of Americans are bracing themselves for the resumption of their student loan payments. This looming deadline is set against a backdrop of rising financial distress. A recent survey by Morgan Stanley found that an alarming 34% of respondents said they would not be able to make any..........
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Navigating Credit Card Debt: Understanding the Power of Debt Forgiveness and Bankruptcy
For the first time in history, American households are carrying over $1 trillion in credit card debt. As if this figure isn't alarming enough, the average interest rate has escalated to 24%, the highest it has been in over three and a half decades. Amidst such an economic crisis, it's crucial for individuals to fully..........
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Voluntary Repossession: Pros and Cons
When dealing with financial difficulties and unmanageable car payments, one of the options you might consider is voluntary repossession. However, it's essential to weigh the pros and cons before making such a decision, and consulting a bankruptcy attorney can ensure you are making the best decision for your situation........
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How to choose the right wage garnishment attorney?
Choosing the right wage garnishment attorney is crucial, as this professional will guide you through the complexities of wage garnishments and bankruptcy law. Just as you wouldn't hire a real estate attorney to handle a divorce, the same applies when dealing with wage garnishments - you need a specialist. This specialist should be well-versed in local collections laws and bankruptcy law, and not just in theory. They should have practical experience in these areas........
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How to File for Bankruptcy and Is It Really Worth It?
Filing for bankruptcy might initially seem like a daunting prospect. However, it's crucial to understand that the actual bankruptcy process is not the frightening aspect. What's truly worrisome is the situation you're currently facing. When you're overwhelmed by debt, incessantly hounded by phone calls, and too stressed to even glance at your mail, that's where the fear lies........
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Foreclosure vs. Short Sale: Understanding the Key Differences
When facing financial difficulties, homeowners may find themselves in a situation where they are unable to continue making their mortgage payments. In these cases, three potential options for dealing with the property are foreclosure, short sale, or bankruptcy to eliminate other debts and allow the homeowner to reinstate the mortgage over time. While all three options can have significant implications for the homeowner, there are crucial differences between foreclosure and short sale that are important to........
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Is Medical Debt Dischargeable in Bankruptcy in Michigan?
It is often assumed that medical debt cannot be discharged in bankruptcy, but actually, this is not the case. The truth is that, in Michigan, you can include your healthcare bills in your Chapter 7 or Chapter 13 filing. In fact, the bankruptcy process…
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What Is Considered Harassment by a Creditor in Michigan?
Under Michigan law, creditors and debt collectors are prohibited from engaging in any behaviour that would have the effect of harassing, oppressing or abusing an individual who owes or has owed money to the creditor…
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