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Bankruptcy Archives

Could your debt lead to divorce?

If you are in debt, you know that owing people money can be stressful. While you have heard that having money does not make you happy, most people would like to have the opportunity to see whether that is, in fact, true.

For senior citizens, bankruptcy can be an answer to debt problems

Here at Giddens & Gatton Law,amp; P.C., we help people from all walks of life whose debt problems have become overwhelming. Nowadays, it is becoming more common for senior citizens to consider bankruptcy as a realistic answer when retirement has become weighed down by debt.

Discharge of student loans in bankruptcy under scrutiny by U.S. DOE

Last month, we blogged about the challenge of getting student loans discharged in bankruptcy. In that post, we talked about the legal standard of "undue hardship" that must be met in New Mexico to have your student loans discharged in bankruptcy.

What is the automatic stay in bankruptcy?

When a debtor files a petition for bankruptcy, an automatic stay of all collection activities against the debtor takes immediate effect. This is a broad, temporary protection for the debtor against legal action to collect the debtor's money or property to satisfy debts.

Are student loans negatively affecting your standard of living?

Many New Mexicans face daunting student loan payments each month that restrict their abilities to buy homes and vehicles as well as, ironically, to begin to put money away for their own children's future college educations. While the federal government and some private lenders offer repayment plans based on income that reduce monthly payments as well as other options like deferment or forbearance, some student loan debtors are either not eligible for relief or even with it, the payments are still very difficult.

Rebuilding your creditworthiness after bankruptcy

At our law firm, we assist New Mexicans who face insurmountable debt with facing their financial problems with creativity and from a position of strength. A variety of approaches to these issues exists, but often our clients ultimately decide to use bankruptcy as the main tool for financial recovery.

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