Family Law Attorneys Fight for Families

About Me

Family Law Attorneys Fight for Families

Many parents fail to realize that they are still co-parents even after a divorce. This means no matter what their feelings are toward each other, their goals should always be geared toward the best interests of their children. I am an attorney practicing family law, and I see parents every day who have forgotten that children should always come first. I hope that this blog will remind people that kids can be terribly hurt when their parents get divorced and that it is up to the adults in their lives to provide a secure foundation where they can feel safe and know that they are cared for. Children are often innocent victims of divorce. Learn how to protect your kids.

Latest Posts

How a Chapter 13 Bankruptcy Attorney Can Help Secure Your Financial Future
11 June 2024

Navigating financial difficulties can be overwhelm

What to Expect in Divorce Mediation: A Guide for Couples
23 February 2024

Divorce is a life-changing experience that can be

Why It's Important to Speak with a Probate Attorney If Your Loved One Didn't Leave a Will Behind
23 February 2024

Losing a loved one is never easy, and it's even mo

Five Reasons Why You Should Hire an Auto Accident Attorney if Your Car Was Destroyed in an Accident
22 January 2024

Car accidents are not only frustrating, but they a

The Ins and Outs of Process Serving: What You Need to Know
18 December 2023

Process serving is a necessary and often overlooke


Should You File For Bankruptcy While In School?

The cost of higher education has never been higher, and many students may find that -- unlike their parents -- working a part-time (or even full-time) job while attending classes won't be enough to cover the total cost of attendance. Adding steep medical bills or consumer debt to this burden may leave you feeling as though you'll never be able to dig your way out of debt. While bankruptcy is an option for many, most student loans are excluded from the bankruptcy estate. Given this, does it ever make sense to file for bankruptcy protection while you are still a student? Read on to learn more about the pros and cons of this approach. 

Why might a student file for bankruptcy?

In some ways, filing for bankruptcy prior to graduation can make sense -- even without the ability to discharge student loans. Because your ability to file either a Chapter 7 or Chapter 13 plan can depend on your income, seeking bankruptcy protection while your income is low can improve your odds of success, especially if you expect your income to substantially increase after your graduation. 

Many can also find the prospect of a fresh start at a young age an attractive one -- rather than spending your early career trying to pay off a mountain of debt, you will instead be responsible only for your student loans and other nondischargeable debt. 

Are there disadvantages to filing while you're still in school?

Depending upon your chosen career field or profession, filing for bankruptcy while still in school may not always be the right choice. Some fields, especially law and finance, may require job applicants to undergo a credit check before an offer of employment is extended, and having a bankruptcy on your record can affect your ability to find a job. 

In other cases, filing for bankruptcy while still in school may be premature. If you are planning on additional schooling, expect high medical expenses in the near future, or are otherwise planning to take on additional debt, you may want to wait. There are time limits on the frequency with which you may file for bankruptcy, and you may find yourself with an even greater debt load a few years down the road -- with no recourse but to wait until you're again able to declare bankruptcy.

If you are considering filing for bankruptcy and are a student, you may want to consult with an attorney, such as Price James S & Associates, to ensure that this is the best option for you at this stage in your life.