Newsletters

What Are the Benefits of Federal Student Loans?

Whether you are approaching the end of your high school career or are seeking higher education later in life, you will have to answer the question: Where will I find the money to ensure a successful career? The vast majority of people seeking a college education will look to loans as their means of getting their degrees. There are a variety of institutions that are willing to fund an individual’s college aspirations, but what types of loans are best for you? What are the benefits of federal student loans? Here is a short list. You do not need a credit history to obtain federal student loans. Whereas most private loans require some sort of credit history, federal student loans are available to any enrolled undergraduate that can demonstrate financial need. Federal student loans do not require a co-signer. If you are young and do not have much credit history, you…
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Bankruptcy and Student Loans

In bankruptcy, there are dischargeable debts and non-dischargeable debts. What is the difference? People can eliminate their liability for dischargeable debts through the bankruptcy process, whereas they cannot eliminate their liability for non-dischargeable debts and will still be responsible for paying them after the bankruptcy is complete. Student loans fall into the category of non-dischargeable, although in certain rare circumstances, the bankruptcy court grants debtors a hardship discharge, relieving them of their student loan liability. Although bankruptcy typically does not discharge student loans, it may still be a useful tool for consumers with burdensome student loan debt. An experienced Kansas City bankruptcy attorney can evaluate your financial situation and explain your bankruptcy options. How Chapter 7 Can Help With Chapter 7 bankruptcy, debtors are able to discharge most unsecured debt, including medical bills, credit cards, payday loans and certain income taxes. They can also surrender secured property which they are…
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Bankruptcy and Home Foreclosure

As the country slowly emerges from its economic and housing problems, foreclosure rates have dropped nationwide. Missouri, however, has seen things worsen. Comparing recent statistics with the same time period in previous years shows a nearly 16% increase in home foreclosure filings in the state. Home foreclosure results when homeowners stop making payments on their mortgage. After several notifications and warnings, the owners’ bank may then begin a foreclosure proceeding, which results in the bank’s taking possession of the house and selling it in order to recover the money the bank is due. A bank may offer a homeowner several financial options to stay in the house, but, if these also fail, foreclosure may be inevitable. Filing for bankruptcy may be a home owner’s best option to save his or her home. If you are having trouble making payments on your home and would like to learn about how filing…
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A New Hope for Discharging Debt?

Kansas City Bankruptcy Attorneys Analyze a Potential Solution It has been a few years since Occupy Wall Street reached its zenith, and one offshoot of the movement is still working to represent the needs of the 99 percent. Rolling Jubilee, a group formed by former Occupy activists, is paying large portions of students’ unforgiven debt. A recent NPR article describes how one student received a letter in the mail explaining that $790.05 of her debt had been covered by Rolling Jubilee. What Can I Do About my Student Loan Debt? So far, the group has covered $15 million worth of student loan debt across the nation. The group, which has Christian ties, says that the word “jubilee” refers to Biblical times: every 49 years, a “jubilee” occurred that erased everyone’s debt. Considering that Americans owe a total of $1.2 trillion in student loan debt, Rolling Jubilee members have their work…
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