Where to get consolidating loans
If you want to go to college and you don’t have the money in your pocket to pay for it, student loans are definitely the vehicle of choice to help you get the cash that you need.
Here are answers to some of the most common issues surrounding student loans and how they work.If you instead file for a Chapter 7 bankruptcy, you may be able to have your debts discharged.This type of bankruptcy makes it possible for most of your consumer debt like credit cards, store accounts and medical debt to be completely wiped out.You must show that the student loans put an undue hardship on your life financially.You also have to show that you tried to repay the loans in good faith when you initially got them.The bankruptcy court does allow student loans to be discharged in some extreme cases.
In order to have your student loans discharged, you’re going to have to prove that they keep you from enjoying even a minimum standard of living.
The cost of a secondary education has increased substantially in recent years and it’s not showing any signs of slowing down any time soon.
While the costs have gone up, the importance of getting a college degree is still there.
This was the biggest year ever on record and 2012 seems poised to again break the lending record.
After making an adjustment for inflation, college students are borrowing roughly twice as much as they borrowed 10 years ago. It shows that there is a big demand for these relatively low interest loans and easy approval methods.
For instance, if you have a 30 year repayment period on your loans, you’ll need to show that your financial situation could not improve over the next 15 years.