The high cost of education coupled with a long-stagnant job market has left many college and trade school grads with a pile of insurmountable debt. New data released by the U.S. Department of Education reveals that numerous students have defaulted or failed to pay back their student loans. In fact, at more than 1,000 colleges and trade schools across the country, at least half the students have not made a payment within seven years or have defaulted altogether. Some borrowers wind up … [Read more...]
Archives for January 2017
Is a Trust Safe from Bankruptcy?
I am a named beneficiary of a revocable trust. Will the assets be attached in a bankruptcy? When you file for bankruptcy, a trustee will look for assets that you own in order to sell and pay your creditors. Whether the assets in your trust are vulnerable in bankruptcy boils down to who has control of the assets in the trust. Revocable Trusts in a Bankruptcy If you have a revocable trust, the person waiting to receive something from the trust (called a trust beneficiary) does not … [Read more...]