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401(k) Loans Are A Tough Case in Greensboro Bankruptcy

401k loan

How 401(k) loans are treated in bankruptcy

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When planning for your future, a 401(k) account helps you plan for your golden years. Many employers provide 401(k) investment opportunities for their employees – and offer a match that can help you set aside even more for your golden years. That account is an asset, and you might not know this, but you can borrow against it. If you file Greensboro bankruptcy, you should carefully consider the fate of your 401(k) and any applicable loans.

Should You Consolidate Your Student Loans?

Loans

Should you consolidate student loans?

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It’s rare that someone has just one student loan. Even if your major stays the same and you stick to the same college and power through in four years or less, you won’t have just one student loan. You’ll have many. That’s one of the reasons it can be a challenge to get your debt under control in the aftermath of leaving college.

Celebrity Bankruptcy Alert: American Chopper Star Files Chapter 13

American Chopper

American Chopper star Paul Teutul Sr files Chapter 13 bankruptcy

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Paul Teutul Sr. rose to fame on the Discovery Channel’s American Chopper that aired from 2003-2010. The successful show brought in around 3.4 million viewers per episode and encouraged profits at Teutul’s California cycle shop, Orange County Choppers. But despite his success, Paul Teutul recently filed Chapter 13 bankruptcy. Here’s a look at this fascinating celebrity bankruptcy case.

Parent PLUS Student Loans and North Carolina Bankruptcy

Parent PLUS loans

The ups and downs of Parent PLUS loans 

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College gets more expensive by the year, and many parents want to foot the bill to get their kids through school. Unless you are independently wealthy or managed to amass a sizable college account, it can be a financial reach. For many parents who want to make sure the next generation gets a degree, that means taking on debt. One of the most common forms of finance is the Parent Loan for Undergraduate Students (PLUS) loan.

4 Ways To Know It’s The Right Time For Greensboro Bankruptcy

Time

Is it time for Greensboro bankruptcy?

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When considering Greensboro bankruptcy, timing is everything. Getting into unmanageable debt isn’t an overnight process but a downhill slide over time. It usually starts with a bill you can’t pay on time, then escalates into a bill you can’t pay at all. From there, it might be a missed mortgage payment (or more than one), maxed out credit cards, and then a debt spiral where debt collectors start hassling you.

5 Scary Outcomes of Student Loan Default

Student loan default

Bad things can happen when you default on student loans

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Credit bureau Experian reports that more than one-fourth of Americans have an item in the hands of a third-party debt collector. For many, those delinquencies are their student loans. At present, student loans have spiraled into a $1.5 trillion debt crisis for American consumers.

How the 180-Day Rule Could Change Your Wilmington Bankruptcy Outcome

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Bankruptcy timelines matter

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In Wilmington bankruptcy, 180 days is a magic number in many respects. In this article, we’ll look at the six-month line for income, inheritances, and other events that can affect the outcome of your case. These are things you must know before you file a bankruptcy case.

Social Security Overpayment Hanging Over Your Head? Greensboro Bankruptcy Can Help

Social security

Overwhelmed by a social security overpayment?

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Social Security benefits are something that many older Americans rely on, but they aren't the only ones getting this type of government benefit. There are also Social Security Administration (SSA) benefits for Spouses and Survivors, Social Security Disability Insurance, and Supplemental Security Income.

More Judges Want to Forgive Student Loans in Bankruptcy

Bankruptcy court

Bankruptcy judges may be loosening restrictions on undue hardship

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Student loan debt in America is a crisis of epic proportions. The total cost of this debt is now over $1.5 trillion. Individual debt coming out of college averages close to $35,000. For those who can afford their student loans, it's no big deal. For others, though, it can escalate into a full-blown financial crisis. Despite the debt spiral, there is some good news lately with court decisions, and it seems that restrictions are loosening on bankruptcy forgiveness of student debt. Here's what you need to know.

Mike Tyson: Celebrity Bankruptcy Success Story

Mie Tyson banruptcy

Lessons to be learned from Mike Tyson's bankruptcy success story

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Most Wilmington bankruptcy filers aren’t world class boxers, never owned pet tigers, and didn’t rake in almost half a billion dollars in earnings before filing. All that applies to Mike Tyson, yet the lessons to be learned from his bankruptcy case resonate for many. Here’s a look at how Iron Mike turned around his finances to become a bankruptcy success story.

4 Concerns When Choosing a Student Repayment Plan

Loan repayment

Choose your student loan repayment plan wisely 

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Student loans are a national crisis at $1.5 trillion and climbing every day. If you’ve got college debt you’re struggling to repay, you may need to reconsider your choice of payment plan. Even if you can afford your payments, you might want to adopt a different strategy for repayment that better fits your financial goals.

Congress Steps Up To Help End Student Loan PSLF Rejections

Student loans

A conversation about PSLF rejections

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Public Service Loan Forgiveness can be a lifeline for student loan borrowers who can’t afford their college debt. It lets you pay on a more affordable plan for 10 years while working at a qualified government, military, or charitable organization and then sees the remainder of your loan balance forgiven with no income tax consequences. It sounds great, but many problems have plagued the plan and rejections have run rampant, leaving many borrowers frustrated.

5 Reasons to Choose Chapter 7 Bankruptcy For Your Wilmington Debt Relief Solution

Why choose Chapter 7

How to choose the best bankruptcy path

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Debt is a necessary evil in life. It lets you buy a home, car, and live a better life than you could if you had to pay cash for everything. But when debt spirals out of control, and you can’t pay what you owe, it can turn into a nightmare. One option to consider for unmanageable debt is Wilmington bankruptcy, but there are two types to choose from – Chapter 13 and Chapter 7. Today we look at why Chapter 7 could be the better option for your debt dilemma.

Student Loans Can Wreck Your Retirement

Retired with student loans

Retiring with student loans is not a good idea!

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As you head into your golden years, your prime years of earning big bucks are behind you, and your income usually settles into a fixed situation and is not nearly as high as it once was. If you can’t afford student loans now, being stuck with them while in retirement is an even worse prospect. Already too few Americans have enough in the bank for retirement and don’t need lingering college debt.

5 Ways to Get Cheaper Student Loan Payments

Student loans

Student loan payments can be cheaper

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Outstanding student loan debt in the U.S currently stands at almost $1.5 trillion. Repaying this debt is a burden for many. If you’re struggling to make your student loan payments, deferment or forbearance can give you a respite from payments, but after that, you need a long-term solution.

Prepare Yourself for Wilmington Bankruptcy – Steps to Take Before You File

Prepare yourself

Get prepared for debt relief

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Filing for Wilmington bankruptcy may be strategic if you're living paycheck to paycheck, dealing with debt collectors, and can’t service your debts. It’s best to go into the process prepared, and that starts with a free consultation with a reputable local North Carolina bankruptcy lawyer. In the meantime, here are some things to examine as you consider bankruptcy.

How To Get Your Student Loans Forgiven

Student loans

Looking for student loan forgiveness?

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Got a pile of student loans you can’t afford (or would love to avoid)? If so, there are several student loan forgiveness programs to consider. There are some run by the federal government, some by state and local government, and others by employers. Today we take a look at five programs that can lessen or eliminate your college debt.

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