Most people have had debt of some kind during their lives. While in the perfect world it may be great to be debt-free, for most of us some debt may be very hard or impossible to do without (for example, a mortgage loan if you want to own a house) …
Student loans – the next debt bomb?
Filing bankruptcy helps to wipe out or alleviate many financial burdens, with a glaring exception – student loans. Most student loans cannot be discharged in bankruptcy, and there are few or no options for distressed borrowers. Unfortunately, the combination of rising cost of education and worsening job prospects is a …