With the cost of education skyrocketing, more kids are turning to parents and grandparents to cosign on private student loans, leaving them liable for payments if the child cannot pay the loan, becomes disabled, or in the event of the borrower’s untimely death. Co-signors stepping up to the plate happens more often than one would think. The number of people over the age of 60 paying off student loan debt on behalf of a family member has quadrupled over the last decade. If you are considering … [Read more...]
Archives for January 2020
Information Is King When Considering Bankruptcy Protection
Bankruptcy is often the last resort for millions of families overburdened with debt. Bankruptcy serves as a financial safety net for families trying their best to stay financially afloat when they are faced with insurmountable debt such as uninsured medical expenses or credit cards used to make ends meet. Bankruptcy law offers individuals or couples bankruptcy protection under chapter 7 or chapter 13 bankruptcy. Generally speaking, in a chapter 7, debtors surrender their nonexempt assets to … [Read more...]