Having a credit card may not be as common of a thing among Millennials as one might think. This is one of the things a recent survey indicates.
In today's world, having student loan debt is a reality for many. There are quite a few individuals here in Tennessee who carry a student debt load. According to federal government estimates, there are around 831,000 student loan borrowers in the state.
Debt comes in many different types, and individuals who hold debt can be in all sorts of different financial situations. Thus, each particular debt situation has its own unique characteristics.
What impact a Chapter 7 bankruptcy would have on a given person's debt load is dictated by several different factors. One such factor is what specific types of debt are within the person's debt load. This is because not all debts are treated the same in Chapter 7 bankruptcy. For example, some types of debt are eligible to be discharged in such a bankruptcy, while others are not.