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April 2013 Archives

As student loan debt increases, discharge in bankruptcy hasn't gotten any easier

Between 2005 and 2012, the burden of student loan debt grew from $364 billion to $904 billion, an increase of 13.9 percent annually. Student loan debt, some economists predict, may be a ticking time bomb. This may or may not be the case. Whether or not student loans are the next bubble getting ready to burst, they can be a serious problem for many borrowers.

Doctors increasing filing for bankruptcy amidst financial difficulties

Because of the far-reaching effects it has on credit, bankruptcy is a big decision for anybody to make. According to experts in the field of bankruptcy, more and more doctors have been forced to file for bankruptcy in recent years.

Mistakes that Baby Boomers are making with what little retirement money that they have saved

  Sometimes I want to screem from the tallest building, "Don't waste what money you have to retire on paying credit cards and leave yourself no retirement money." Ok, I need to shorten the massage a little, but retired and retiring babyboomers are the fastest growing segment of my business as a consumer bankruptcy attorney here in Lexington, KY. It is so sad. There are a lot of reasons for the problem. 1. We were no told how much we needed to save to retire after the almost demise of the old fashioned pension. 2. We were not disciplined enough and thought that there would always be more time. 3. It takes a lot more money to launch your kids from the nest than it used to. 4. We were allowed to borrow money way too freely (also mostly our own fault).