Of the various kinds of debt that an individual might seek bankruptcy relief from, federal student loans can be among the most difficult to get out from under. Even if you were not able to complete your degree, or were not able to find work in the same field as your degree, or even if you feel that the quality of the education that you received was not worth the tuition you paid, you are still obligated to pay your student loans.
Many people believe that filing bankruptcy is the end of the road for getting a credit card ever again, let alone being approved for a mortgage. But, actually it is a new beginning. Owning a home is still possible for Ohio residents after filing for bankruptcy, or even after a previous foreclosure.
Filing for bankruptcy is a personal decision. Many people find that it is the best way to handle their debt and try to get their finances back on track, but they usually prefer to make that decision for themselves. An Ohio bank recently reported to credit bureaus that some of their customers had filed for bankruptcy when, actually, the customers had not made that decision at all.