This is a hot button question I get asked all the time. It’s no wonder, with about 1 trillion dollars (that’s more than the auto industry bailout and the Wall Street bailout) in student loan debt in this country and a very bleak job market for college graduates, this will become a crisis in the coming years. In fact, this very well may be the next meltdown in the country.

This is the second part to my last article I wrote on whether spousal support can be discharged in bankruptcy. If you missed that article, you can read it here. Credit card debt works differently than a Domestic Support Obligation and there are different rules for this type of treatment.

One of the most depressing statements I hear, “I’m such a loser because I’m filing for bankruptcy”. I’m not sure where this sentiment comes from, but it could be traced to what we have been programmed to believe from the news media, financial pundits, and the credit industry. We are taught that we get into debt, the only way out is to pay our bills. It’s the right thing to do!

Retirement assets are protected in Chapter 7 or Chapter 13 bankruptcy. Don’t cash them in to pay your creditors.

Your Detroit Bankruptcy Lawyer took a call this week and a potential client in need and these were the first words out of his mouth

             Of all the questions I get asked on a daily basis, this is the last question anyone should be asking of their bankruptcy attorney. Bankruptcy is very complicated and very technical and if done right, it can get you a fresh financial start in life. If done wrong, then you can…