Monthly Archives: April 2020

The potential penalties for not paying credit card debt

The potential penalties for not paying credit card debt

Debt collectors might suggest that individuals who owe credit card debt could be sent to jail. However, Michigan residents who are struggling to pay current or past due balances generally don’t have to worry about being taken into custody for not paying what they owe. In 1833, the federal government outlawed debtors prisons. Furthermore, individuals […]

One case discharges student loans in bankruptcy

One case discharges student loans in bankruptcy

One of the long-held rules in a Michigan bankruptcy was that debtors could not escape their student loan debt, even after filing for bankruptcy. Now, a recent court case may give those who are struggling with unmanageable student loans some hope that bankruptcy can be a way out of their situation. Getting student loans discharged […]