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November 2014 Archives

National Hockey League player files for personal bankruptcy

Professional sports players often make millions from the get-go in their careers. However, this does not mean that they are immune from financial problems.

Many drowning in student loans need debt relief

Many people in Massachusetts who go to college do so in hopes of obtaining a lucrative job after graduation. Unfortunately, due to the economy and other outside forces, many people are no longer able to make their student loan payments and soon find themselves being harassed by debt collectors. However, the U.S. Treasury Department is trying to take some steps that will help student loan debtors in these situations.

What are the consequences of re-filing for personal bankruptcy?

Unfortunately, there are times when a debtor's bankruptcy case in Massachusetts will be dismissed. When this happens, the debtor will be restored to the same financial situation that he or she was in prior to filing for bankruptcy, without obtaining any form of debt relief. Obviously this is not the outcome that the debtor wanted and he or she may consider re-filing for bankruptcy. However, debtors should understand that there are consequences that stem from re-filing for bankruptcy.

What happens if I just pay the minimum payments on debt?

One of the difficult parts of having credit card debt is that interest rates can be extremely high. Many companies provide unclear statements that rack up debt for individuals if they only pay the minimum payments on their debt. Credit card debt for Massachusetts residents can rack up quickly and spiral out of control.