Our bankruptcy attorneys understand that bankruptcy is an option of last resort. Before contacting a bankruptcy attorney for advice, many of our clients seek help from a debt settlement company. They expect that the company will negotiate favorable payments terms with their creditors or even get the debt balances reduced. While there are some reputable companies that offer debt settlement services, there are also many companies that charge a high fee and do little to help.
As a general rule, student loans are excepted from a bankruptcy discharge, meaning a borrower remains obligated to pay the student loans after successful completion of a bankruptcy. However, as with any rule, there are exceptions. Student loans can be discharged in bankruptcy if the bankruptcy debtor can prove that the student loan obligation imposes an undue hardship on the debtor and the debtor’s dependents.
If you buy a car with little or no money down, there’s a good chance your loan is upside-down, meaning you owe more than the car is worth, as soon as you drive off the lot. These little or no money down loans are often coupled with high interest rates. It’s not a good position to be in if you have trouble making the payments and want to sell the car. The good news is that Chapter 13 bankruptcy can help right this situation.
Stumbo Hanson, LLP, is honored that Tom Barnes, Todd Luckman, Lee Hendricks, and Kathryn Sheedy are listed among the 12 Top Rated Bankruptcy Lawyers in Topeka, Kansas by Super Lawyers. Additionally, Gary Hanson and Lee Hendricks are named as Top Rated State, Local & Municipal Attorneys in Topeka, Kansas. If you are wondering whether this hard …
This is a frequent question we hear from our bankruptcy clients. Many imagine that bankruptcy will leave a black mark on their credit reports resulting in a lifetime of denied credit and high interest. As bankruptcy attorneys, we have seen clients rebound from bankruptcy quickly, but we now have data to reassure clients that those rebounds are not a rare occurrence.