With the college season upon families, some students still are applying for private student loans.If you find yourself considering private student loans, beware that in cases where the student dies, the co-signers often are obliged to pay off the balance of the loan themselves—a requirement typically not found in federal loans, according to a recent Wall Street Journal article.Sallie … [Read more...]
Until Health Care Reform Takes Effect
June 14, 2010 By
While a large number of bankruptcies include medical expenses, there is no such thing as a "medical bankruptcy." Thankfully, health insurance reform will push fewer clients over the financial edge.While the full bill won't be enacted for four more years, several changes are now in effect:More services will be paid in full, regardless of deductibles and copays The lifetime benefit "cap" … [Read more...]
Bankruptcy and Divorce
February 2, 2010 By
I frequently tell new bankruptcy clients -- often college-educated, middle- to upper-middle class people who never dreamed they'd be in this position -- that bankruptcy is the new divorce. Long ago, divorce was extremely rare and resulted in a social stigma. No one marries planning to divorce; we make the best decision we can, with the information we have, and plan for a long and happy … [Read more...]
Bankruptcy and Families
July 16, 2009 By
In a study published in the Harvard Law and Policy Review the global financial crisis and the specific effect on real estate, is putting different stresses on families in bankruptcy than in times past. Broken inter-generational safety nets "Specifically, when young adults experience financial struggles, they often rely on their parents for help because parents usually have more assets and fewer … [Read more...]