There have been some developments in the past several months regarding your credit and your student loans if you have them. When these sorts of developments are released, it is important that people find out about it, as it often gets shouted down by all the other things that the media is talking about.
That is why, in this episode of the podcast, I am starting a new feature where I discuss and analyze important developments that could affect your financial freedom, so they are not lost to you in the noise created by the latest political scandal. Here are two stories that could well affect you and your financial future: one on your credit score, and one on federal student loans.
Student loans continue to be in crisis in this country, with debt over $1 trillion nationally. Naturally, people with these loans are looking for a solution to their problem. Unfortunately, many of them are automatically eliminating one of them based on a common misunderstanding, and that is: Student loans cannot be discharged in bankruptcy.
Therefore, in this episode of the podcast, I wanted to dispel this misunderstanding and show how student loans can be discharged in bankruptcy. It is not easy to do, and it definitely is not inexpensive, but it is worth looking into if you have a crushing balance of student loan debt.
Student loan debt continues to be a problem in this country with over $1 trillion owed nationally. A large percentage of them are struggling to make payments or cannot make them at all. They are sliding towards default and an even bigger financial problem.
In the face of this, there have been a lot of ads lately, as well as articles on the web, that tout refinancing of your student loans as a solution to those unaffordable monthly payments. They say that you can get a better interest rate by doing so! While this may be a solution for some borrowers, for others, it could actually make things worse!
That is why in this episode of the podcast, I wanted to talk about the refinancing option and give some advice on when it can be the solution for you. You cannot work towards financial freedom if you are being held back by unaffordable debt that you can seldom wipe out.