There are many reasons why families are turning to personal bankruptcy for debt relief. While some situations are avoidable, others are completely out of our control.
With the current economic recession, many Americans find themselves in a precarious financial position. However, a growing number of Louisiana residents are choosing debt relief to make a fresh start and begin to rebuild for the future.
Receiving a cancer diagnosis can lead to difficult and overwhelming emotional responses from patients. Many worry about their chance of survival, treatment options and breaking the news to friends and family. All of these are understandable concerns for cancer patients in Louisiana, but unfortunately they also tend to have another worry on their minds -- debt relief.
Many of our readers may be aware that it is extremely difficult to obtain a discharge of student loans in the bankruptcy process. Under bankruptcy law, a debtor must meet certain income requirements and must demonstrate that the student loan debt poses a substantial hardship for the debtor.
When it comes to obtaining debt relief, there are several options debtors have. Depending on the type of debt one is dealing with and the debtor’s overall financial situation, bankruptcy may not be the best option for relief, so it is worth it to consider the alternatives.