Lakewood Law Blog

One of the problems with bankruptcy today is that it doesn't address the looming problem of student loans. For many people in America who have crippling debt, the issue isn't that they don't make enough money or that they aren't good with it. The reality is that their student loans can cost them as much as a mortgage payment each month, straining their finances significantly.

It's not unusual to see that many people carry debt in the form of student loans. For one in three consumers, student loan debt makes up around 49 percent of their debt, leaving them with as much as half of their debts untouchable through bankruptcy. Presently, bankruptcy does not allow the discharge of many student loans.

As a same-sex couple, being able to marry gives you the same rights as heterosexual couples. You get the right to thousands of benefits federally and at the state level, too.

Of course, just like opposite-sex marriages, same-sex marriages can end in divorce. With them, though, there are more complications. Why? Many same-sex couples were not married when they would have been because it used to be illegal. As a result, the shared assets they have may include more than just what they've acquired during their marriage.

Teens are going through fragile years in their lives. Disruptions can seem like the end of the world, even if nothing really changes. Teens are among the most difficult people to talk to during divorces, too. Though they understand what's happening, they also may have the independence to stay away from home, participating in more school events or staying overnight with friends.

As a parent, it's important to monitor your teen for changes in their behavior after you tell them that you're getting a divorce. Your teen may be fine with the divorce and have no major concerns, or they may feel that everything they know is changing. It's your job, as a parent, to make sure you know how your teen feels and to guide them through the changes in a healthy manner.

Bankruptcy isn't always easy, but it can be the right solution for some people who are struggling with money. Whether you're still working and are trying hard to make ends meet or cannot work as a result of your circumstances, it's important to know if and when bankruptcy may be the right choice for you.

Bankruptcy comes in a few forms, but one that is talked about less than it should be is Chapter 13. Chapter 13 bankruptcy is special, because it doesn't require you to liquidate any of your assets. Federally, if you have debts less than $394,725 (unsecured) and $1,184,200 (secured), you can apply for Chapter 13 bankruptcy.