This advice is invaluable to consumers who have to make some financially hard decisions. For example: we remind consumers that student loans, are not dis-chargeable in a bankruptcy. Essentially, this means if you have student loans and you file for bankruptcy, then you would still owe the money for the student loans. Wouldn’t it be interesting, if a consumer used their credit card debts to pay off their student loans and then later on down the line had to legally file bankruptcy on their credit cards, the result would be that the student loans were paid off or down and the credit card debt legally vanished.
Sometimes consumers have questions about their auto loans or mortgage payments and how long someone can stay in their house, what to do about their car or even if there’s a judgment already against them and they are totally confused on who to pay, with what little money they have. These types of questions and answers can result in possibly buying a consumer months or years of extra time of not paying their bills and quite possibly, they may never have to legally pay a lot of those bills. Getting the right information and having a plan is crucial. Remember, those who fail to plan, plan to fail.