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What You Should Know About COVID Student Loan Forbearance

Unfortunately, many people experienced financial distress and health challenges as a result of the COVID-19 pandemic. As such, several individuals owing student loans were unable to keep repaying. To mitigate the effect, the federal government offered student loan forbearance relief – a temporary pause on a student loan – to those who were affected.

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What to Do If a Creditor Doesn't Respect Your Discharge

Filing for bankruptcy is a promising option to help you achieve financial relief during times of financial distress. At the end of your bankruptcy case, the Nevada court will discharge all qualifying pre-petition debts, and you won't need to pay back such debts. However, some creditors may fail to respect your debt discharge order.

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Life After Bankruptcy

Believe it or not, there is life after bankruptcy. In fact, life after making the decision to file may be significantly less stressful than life was prior to filing. Rather than being stuck in place under a heavy load of debt, you can begin moving forward, facing a more positive financial future.

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Dispelling Bankruptcy Myths

Thousands of Nevada residents file for bankruptcy each year, seeking relief for both personal financial struggles as well as financial hardship associated with a business. In 2019, nearly 8,000 Nevada residents filed for bankruptcy.

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Which Chapter of Bankruptcy is Best for Me?

Bankruptcy is a path to financial relief that many people realize is best for their situation. In 2020, there were 910 Chapter 7 bankruptcy filings, 19 Chapter 11 bankruptcy filings, and 239 Chapter 13 bankruptcy filings in Reno, Nevada.

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Preparing for Bankruptcy

There are some signs that you might need to file for bankruptcy. Perhaps you are paying only the minimum on maxed-out credit cards or have fallen behind on your mortgage, car payment, or other loans. If you are overwhelmed, stressed by your financial situation, and are tired of being contacted by collection agencies, filing for bankruptcy might be the only way to find relief.

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