Causes of Debt

There are many different causes of debt. The TV quiz show Jeopardy! recently addressed five types. Student loans Seven in ten students graduate with student loan debt, which is now bigger than both auto loans and credit cards. And student loan debt is the most collectible cause of debt there is. Student loans are nondischargeable […]

Does Bankruptcy Get Rid of Student Loans?

Does Bankruptcy Get Rid of Student Loans?

Today, the average student in the United States graduates with $29,400 in student loan debt. High youth unemployment may make it very difficult for many of these students to repay their student loans. As a result, young people struggle with monthly payments they cannot make. Many wonder: Will bankruptcy get rid of student loans I […]

Student Loan Discharge in Virginia

Student Loan Dischargeability in Virginia

According to American Student Assistance, around 60 percent of all students attending college or pursuing higher education borrow money to pay for tuition. As of 2012, the average student loan balance among all age groups was $24,301, with around a quarter of borrowers owing more than $28,000. These high student loan balances are a major […]

Can Student Loans in DC Be Discharged through Bankruptcy?

Today, one of the biggest debt problems that many people face is student loan debt. According to American Student Assistance, around 60 percent of college students — or 12 million college students each year — borrow money to cover the costs of attending school. Washington, D.C. has the most student debt in the nation. So can […]

How Do I Stop a Garnishment?

How Do I Stop Garnishment?

Garnishment (or “attachment”) is a last-ditch effort at debt collection, a tool of last resort for creditors. When you default on a debt, and the creditor is unsuccessful in recovering on the debt, a judgment may be issued against you to garnish property, bank accounts, or wages. Garnishment can often severely impact your monthly finances, and […]

Are student loans dischargeable in bankruptcy?

In the United States there is more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000. Are student loans dischargeable in bankruptcy? No. If you are considering filing for bankruptcy in the Washington, D.C. area, you should know that student loan debt is generally nondischargeable, which means that […]

The Top Ten Reasons For Bankruptcy

The Top Ten Reasons For Bankruptcy

You have your own story, but so do we all. If you’re considering bankruptcy, you may feel isolated or uniquely afflicted. But you are not alone. In fact, certain recurring circumstances lead people to file bankruptcy. Here are the top ten reasons for bankruptcy. 1. Debt The primary goal of bankruptcy is to eliminate debt. In […]