The Department of Education and the Consumer Financial Protection Bureau have asked Congress to consider allowing students to discharge their private student loans through bankruptcy. Most students have not been able to discharge these loans since the Bankruptcy Code was amended in the early 2000s.
If you are considering filing for bankruptcy, you might wonder what you should do about your credit card debt. You should know that it is generally not advisable to pay off your credit card debt or to continue to use your credit cards prior to filing for bankruptcy.
Medical bills have a way of piling up, easily overwhelming a family who was otherwise in a very comfortable financial state. Unfortunately, medical bills are typically costly and unexpected, yet cannot be avoided once medical care is necessary. On the upside for those facing mounting medical bills, typically the debt is not submitted to credit reporting agencies for several months.
When you went through bankruptcy, you probably figured that it would be your last financial hurdle. Now, something has happened that has put you right back in the same financial distress you faced before, such as a medical emergency, job loss or unexpected divorce.