Americans owe a total of $1.4 trillion in student loan debt as of the first quarter of 2019. That figure was provided by Experian, and it represents a 116% increase in student loan debt over the past 10 years. While this has caused a financial burden for many young...
Month: June 2019
How does preference law affect my bankruptcy case?
The decision to declare bankruptcy is not an easy one to make. Once you have chosen to commit to the process, it is normal to have a lot of questions about this unfamiliar undertaking. You may already understand the difference between Chapter 7 and Chapter 13...
The role of student loan debt in bankruptcy filings
People in Mississippi who are struggling with debt may be among the nearly one-third of people who filed for Chapter 7 bankruptcy with student loan debt. This was one finding in a study by LendEDU. The same study also found that among that group, on average, almost...
Credit card delinquencies on the rise among younger borrowers
Young people in Mississippi and around the country are finding it increasingly difficult to manage their revolving debt according to the New York Federal Reserve's most recent Quarterly Report on Household Debt and Credit. The report reveals that more than 8% of the...
Supreme Court ruling upholds creditor responsibilities
People in Mississippi may be aided in finding relief from overzealous creditors by a U.S. Supreme Court ruling. The high court ruled on June 3 that creditors can be held in contempt of court if they continue to pursue debts that were clearly discharged in a...