Bankruptcy usually doesn’t erase student loan debt

Posted by administrator | 05/09/11 | Tagged Credit Card Debt

Bankruptcy usually doesn’t erase student loan debt
News from Los Angeles Times:
Dear Liz: I was hurt on the job and was fired. I have a lawyer helping me fight the company, but I have no income and I’m being haunted by collection agencies. I owe $ 5,000 on credit cards and have a student loan that started at $ 20,000 but is now $ 30,000. I was thinking of filing for bankruptcy. I have nothing, and I feel bad all the time. I can’t afford Christmas or birthday presents or find a job that I can do. Any advice would be helpful.

Answer: Bankruptcy could wipe out your credit card debt but probably won’t erase your student loans. Student loan debt usually can’t be discharged in bankruptcy unless you’re totally and permanently disabled. Since you’ve been looking for work, that doesn’t seem to be your situation.

Besides, filing for bankruptcy costs money that you probably don’t have. A Chapter 7 filing can easily cost $ 1,500.

What you might want to do instead is discuss your situation with a bankruptcy attorney to find out if you migh…………… continues on Los Angeles Times
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Banking and Finance : Debt Settlement
News from How Credit Card Companies Are Taking … – SkyNewswire.com:

(SkyNewswire.com) For years, the credit card industry has been using the American people – and we blindly allowed it to occur, thinking that we had little choice in the problem. Society gave us no alternative, as more firms started preferring credit over money, and some even require the use of mastercards and won’t accept money as a payment option. When you are making a charge on your Mastercard, within a couple years, that charge might have tripled from what it originally was. This is because of the rates the card corporations charge, as well as the ridiculous costs that they tack onto every month’s bill.

This is how they have taken full advantage of you. While congress has taken steps to guard the American folks from the practices of the credit card corporations to a certain level, you should also take steps to guard yourself. This starts with a credit ana…………… continues on How Credit Card Companies Are Taking … – SkyNewswire.com
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St. Tammany assessor used public credit card for meals, diamond pendant
News from NOLA.com:

St. Tammany Parish Assessor Patricia Schwarz Core has been criticized by some residents for the way she runs the assessor’s office, including the tax assessments she has placed on land and her handling of special assessments for undeveloped property in the parish.

Through it all, Core has bristled at all the fault-finding and staunchly defended her agency, saying it has done a good job overall. But it appears the five-term assessor didn’t let the criticism affect her office’s appetite.

According to records of the agency’s credit-card spending, officials from the assessor’s office spent nearly $ 35,000 on meals from 2008 to April 2011, a practice that has brought Core under even more fire as she prepares her re-election campaign.

The food charges are among the nearly $ 253,433 in credit card spending at the 50-employee office since 2008. The bulk of the spending, nearly $ 154,000, was on office supplies.

Core, in expl…………… continues on NOLA.com
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