Most Arkansas residents are aware that student loan debt is not normally eligible for discharge within a personal bankruptcy case. That said, there are certain instances in which student loans can be included within the discharge process, if individuals meet certain measures of hardship. Understanding exactly what those measures may be, however, is something of a challenge for those who are considering filing for personal bankruptcy.
When financial troubles occur, many Arkansas residents are concerned about the damage done to their credit standing. Paying bills late and allowing balances to rise will have a negative impact on one's credit score, and the longer that financial difficulties continue, the more pronounced that damage will become. For consumers who are concerned about bad credit scores, the following tips may help structure a repayment plan that can help.
Once debt has reached a critical level, many Arkansas consumers are unable to think of little else. Anxiety over how to pay the bills can be crippling to one's health, happiness and the well-being of interpersonal relationships. Once this point has been reached, many will look for relief in the form of debt consolidation or debt settlement options. Understanding how each works is crucial in making the best possible decision.
Real estate markets are unpredictable things: the property that an Arkansas resident buys one year may be worth far more or less in the years to come. While property values do tend to rise over time, the short-term value can be very volatile. In many cases, homeowners who took out second mortgages on their homes are now underwater on those debts, meaning that their home is worth less than the total amount owed. In such cases, Chapter 13 bankruptcy offers a viable solution.