Arlington Bankruptcy Blog

How Bankruptcy Affects Retirement?

It is a well-known fact that debt can seriously hurt an individual’s savings, but as more and more of the Baby Boomer population is entering retirement, the question of whether this debt can harm their ability to retire is becoming more of a concern. According to a 2010 study conducted the University of Michigan School of Law, seniors are the fastest growing group of bankruptcy filers in the ...

Could Relief be Coming to Student Loan Borrowers?

Student loan debt continues to be a thorn in the side of many borrowers in the United States. It is said that student loan debt amounts to a collective total of $1.5 trillion. According to the Brookings institute, 40 percent of borrowers are expected to default on their student loan debts by the year 2023. However, do these borrowers have any recourse when it comes to discharging these obligations ...

Bankruptcy and Taxes

Taxes play an important part in bankruptcy, both before and during the bankruptcy proceedings. Many debtors want to know if debts they owe to the IRS will remain with them once the bankruptcy is completed or whether these debts can be discharged along with other debts through the bankruptcy. Discharges are possible, but it can depend on a number of factors. Discharge of Tax Debt One question that ...

How to Avoid Repossession During Bankruptcy

One of the biggest fears that bankruptcy filers have involves the possibility of losing their property once bankruptcy is filed. Most people need to keep their cars to get to and from work and home. Many enter the process already upside down on their car loans. What is recommended when it comes to avoiding repossession during bankruptcy? The Automatic Stay Once bankruptcy is filed, whether it be ...