| STUDENT LOANS HARDSHIP Student loans are no longer dischargable, except for "hardship". "Hardship" is very narrowly defined. For example, all persons filing bankruptcy are experiencing financial hardship. The issue is whether there is a never-ending (no hope in the future) hardship, such as a medical disability. If possible, do not default on your student loans. The amount that a collection agency can collect includes large collection fees and your interest rate may be increased substantially. One Alaska case indicates that the local student loan authorities can take your driver's license away if they have attempted to enter into payment arrangements with you without success. Seek advice and do not go into default if at all possible!! |
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| TAXES Despite information to the contrary, some taxes may be eliminated in a bankruptcy. However, this is a very sophisticated area. YOU MUST CONSULT WITH AN ATTORNEY TO DETERMINE WHETHER YOU HAVE TAXES THAT ARE DISCHARGABLE, or whether you may be eligible to file a 3 - 5 year bankruptcy, in which you may eliminate further interest and penalties. DO NOT ATTEMPT TO FIGURE OUT WHETHER YOUR TAXES MAY BE DISCHARGED BY YOURSELF, WITH A PARALEGAL, OR WITH A COMPANY OVER THE TELEPHONE! |
| LAW OFFICES OF JENNIFER L. HOLLAND |