ewoods's blog

The short answer is “no,” but there’s some good news, too. Before we jump into the options you do have for making things right with a friend or family member when you file bankruptcy, let’s look at the general rules for repayments leading up to a bankruptcy filing and how “insiders” are treated differently. 

Many people struggling with debt fear losing their housing. That concern runs deep, and not just for those who are purchasing homes and fear foreclosure. Although the process and the financial impact is different, eviction can be just as traumatic as foreclosure. And, the eviction process typically moves much faster, leaving a renter little time to make alternate arrangements. That is challenging under any circumstances, but especially when financial resources are limited.

Recently, the Clarion Ledger newspaper in Jackson, Mississippi reported the results of a Wallethub.com study. Wallethub.com is a personal finance website. The study used information from TransUnion to compile the average credit scores of the residents of several towns and cities across America.

Large amounts of student loans continue to be a problem for many people. The Washington Post recently reported on a Federal Reserve study concerning student loans and homeownership.

I recently read a Federal Reserve study indicating that 89% of millennials do plan to purchase a home at some point in the future. However, 48% have not been able to save anything towards this goal. According to the study, the problem is student loan debt.

Navient is a publicly-traded student loan servicer familiar to many Americans with student loan debt. The company formally split off from Sallie Mae and contracts with the U.S. Department of Education to service and collect upon student loan accounts.

We welcome Merideth Drummond to Bond Botes & Woods, P.C.! Merideth is an experienced bankruptcy and social security attorney and has joined our firm to counsel with our clients in these areas.

Millions of Americans have revolving credit card debt. The rate of interest on credit card debt is usually very high in relation to other types of debt. These rates can vary. Many credit card rates are affected by the Federal Reserve’s benchmark rate.

I recently read an interesting article in a national news magazine about strategies for dealing with co-signed debt. The article contained ideas for extracting yourself from that situation.