It has been said “there is nothing new under the sun,” but when it comes to bankruptcy stories, all bankruptcy stories are unique. Each new story is woven from the bankrupt’s own financial cache laden by unequaled experiences but clothed in similar circumstances.
This personal bankruptcy story was posted on the internet in April of 2011,
I am in a pretty unique situation. I have debt of $70,000 in a student loan, $17,000 in judgments which are currently being garnished from my check, and I have around $10,000 in other debts (credit cards, medical bills). I own a Honda Accord and one 3 year old computer. I was in school and tragedy struck. I had to drop out. Four years later I am trying to get back on my feet. I work a $12/hr job, 40 hours a week. I have a child, but thankfully I have not fallen behind on child support payments. I have tried to get back into school, but I am stuck in a vicious cycle of not having enough money to pay for classes and not being able to get student loans. Low credit scores have also made it impossible for me to get my own place, so I sleep on friend’s couches. I live in Pennsylvania, and my rent is $600 per month. Will filing bankruptcy eliminate my student loan debt? Can I file for bankruptcy without hiring a bankruptcy lawyer? Is it worth it? I need a fresh financial start.
The debtor has a student loan he cannot easily repay, his paycheck has been garnished, and he has credit debt, unpaid medical bills and a recurring child support payment. Is filing for bankruptcy the right answer for him? Is it the best financial decision? Talking to a bankruptcy lawyer may help him make a more informed decision.
He asked if his student loan debt can be discharged. Unless a filer can prove hardship, the loan will not be discharged. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made all student loans much harder to discharge and classified private student loans as a non-dischargeable debt.
Is it easy to file bankruptcy? Bankruptcy laws are complicated, and every filer has a unique situation. Bankruptcy attorneys can answer any questions you might have pertaining to your financial situation.
He wants a fresh financial start. Filing for bankruptcy is a legal process that is designed to protect both the creditor and the debtor and allows honest individuals or businesses to start over.
If you need relief from the stress of debt and you live in or around the metropolitan area of Birmingham, Alabama, contact us at www.betterbankruptcy.com . We will help you find a bankruptcy attorney in your area who can answer your bankruptcy questions.
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