Student Loans Can’t Be Swept Away Through BankruptcyWritten by Charles Essmeier
Continued from page 1 to legislation enacted several years ago, most any loans acquired for education, including those issued by for-profit agencies, may not be eliminated through filing for bankruptcy.
What this means for those with student loans is that they will need to be repaid. If bankruptcy is inevitable, those with outstanding student loans should contact their lenders and see if they can’t negotiate a repayment plan. Those with Federally funded student loans should contact their lender soon, as rates for student loans will go up on July 1, 2005. Now would be a good time to consolidate student loans, as rates can be locked in for long term. If these options are not viable, then holders of student loans should simply be aware that their lenders and their lenders’ loan collectors will be keeping in touch with them for foreseeable future. Those with student loans and other financial problems should also be aware that Federal bankruptcy law will change in October, 2005, making it harder to file for bankruptcy. If you have problem debt, now would be a good time to consider meeting with a credit counselor.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
| | SHOE STRING BUDGET PART ONE--FIXED EXPENSESWritten by Wendy Jackson
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Check to see if you can read your local newspaper free of charge over internet. If you can, cancel subscription. While reading, if you see something you want a hard copy of, go to store and pay 50 cents for a hard copy. Is every light in your house on? Turn them off, and get family in habit, as well. Don’t constantly change setting on thermostat, either. Find a setting that is pleasing to everyone and leave it alone. It is not hard to save hundred of dollars each year, if you take control of what you are paying for.
Wendy writes for http://www.myagonyaunt.co.uk/ amongst other sites
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