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What you should know about student loans and bankruptcy

If you are currently struggling under the weight of enormous debt, you are certainly not alone. In cases where debt becomes overwhelming and cannot be repaid, bankruptcy is a reasonable option to consider. Unfortunately, many people don’t realize that some debts are not dischargeable in bankruptcy – including student loans.

Millions of Americans take out student loans as a sound investment in their future. But despite our best laid plans, the difference between paying back a student loan and defaulting sometimes comes down to luck. When the economy crashed in 2008, recent graduates discovered that their expensive education could not yield a good-paying job in such a tight recession. This means that those who eventually needed to turn to bankruptcy for relief were unable to discharge perhaps their largest source of debt.

How are child custody decisions made?

Some of the biggest concerns divorcing parents tend to have include who will end up with custody of their child and how that decision will be made. Fortunately, parents are encouraged to work together to find an agreeable custody option, and when parents collaborate, they usually have more control over the results.

If you and your spouse have difficulties working together, mediation or arbitration might be appropriate to try. You may even be required to try mediation before your case can be heard by a judge. Courts often favor alternative dispute resolution techniques for child custody matters because when parents collaborate there is usually less stress for the parents and the child. Also, parents tend to know their child best, so they are positioned well to come up with the arrangement that would be in the child’s best interests.

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Gastonia, NC 28052

Phone: 704-864-0235
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