Parents Stressed over Children’s Student Loans | Denver Bankruptcy Attorney

According to 9 News, a common trend of personal bankruptcy is being seen with more and more parents co-signing for their children’s student loans. The article goes on to discuss a family’s individual case of multiple adversities, student loans being one of them. Bad financial advice paired with a loss of job and a bad economy leaves the Pixomatis family in a difficult position. Despite losing their home and becoming over $200,000 in debt, the family still had to pay their son’s student loans totaling $90,000. Filing for bankruptcy became their only option. Even though multiple factors went into this particular bankruptcy case, parents being liable to pay off their children’s student loans is becoming a widely acknowledged common factor.

Has your personal finances been affected by the economic downturn? Contact a Colorado bankruptcy lawyer to further discuss your options and legal rights.

Knowing that you have options when deciding your next move is important when filing for bankruptcy. Chapter 13 and chapter 7 bankruptcy are the two basic types of bankruptcy for individuals. Chapter 7 bankruptcy is more of a liquidation of assets and Chapter 13 bankruptcy allows a repayment plan of debt. Knowing and understanding the differences between the two can be very difficult and frustrating on your own.  Contact a Dripping Springs bankruptcy attorney today.

If your personal finances are suffering and you are considering bankruptcy as an option then contact a dedicated Denver chapter 13 bankruptcy attorney today. Bankruptcy is often very misunderstood within our society. Bankruptcy laws are often confusing, let the experience of chapter 7 and chapter 13 bankruptcy attorney Custer Roberson help you make your decision less stressful. For more information and a FREE CONSULTATION, contact Roberson at (303)893-0833.

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