In some cases, Kentucky residents may want to go back to college after they have obtained a discharge of debt through bankruptcy. Some of them may be concerned that their bankruptcy will prevent them from being able to secure student loans to help them pay their college tuition, and they may refrain from enrolling as a result.
Many factors can push an individual or family into debt. Medical bills, the loss of a job and underemployment are just a few examples of issues that can lead to reduced cash flow and the inability to keep up with monthly expenses. People in this situation do have options, and they can often benefit from the help of a credit counselor in determining whether some form of debt consolidation or a bankruptcy filing is the best solution. For Kentuckians, who rank 46th in the nation in financial literacy, such counseling can be a vital first step in addressing the problem of debt.