as-vts5midw's blog

The answer is maybe. If you are struggling with large student loan balances, you’re not alone. The Consumer Finance Protection Bureau estimates that approximately 40 million Americans owe student loans with the average debt owed totaling $29,000.00. And many student loan borrowers owe balances much more than the average.

It is a common belief that filing Bankruptcy will result in a person losing their home, vehicles, or other property.

A prospective client came into our Birmingham, AL office to get more information about Bankruptcy. As we were reviewing her list of creditors, she noted that one of the creditors had a cosigner.

In my last blog, I described what constitutes a preferential transfer under the Bankruptcy Code.  Now I’ll go into a few of the defenses a creditor might have to a preference lawsuit by the bankruptcy Trustee.  These defenses, as well as several others, are set forth in

When it comes to eliminating debt, there are really only three broad strategies from which to choose. If you are struggling with debt problems, you should consider the “big picture” as you try to intelligently assess your options.

A Chapter 13 Bankruptcy case, also known as a debt-consolidation bankruptcy, is a lengthy process.

In several recent consultations with prospective clients and current clients, I have noticed a recurring theme; too many married couples keep their finances separate. Neither spouse knows how much income the other is making or the amount of debt the other owes and sometimes a combination of the two.

If you paid money to one of your creditors before you filed bankruptcy, this might have been what is called a “preferential transfer.”  If the payment meets the definition of a preferential transfer that is in the bankruptcy code, the Trustee will try to recover that money from the creditor to benefit the bankruptcy estate.