Bankruptcy Articles Category

Find out more information on Bankruptcy.

Bankruptcy Filing Information

According to the American Bankruptcy Institute, 1.5 million U.S. consumers have declared bankruptcy. The law is really clear and for individual or couple that are considering filing they must know Bankruptcy Laws.

Strategies for Chapter seven Individual bankruptcy

Personal bankruptcy is a legitimately declared lack of ability of individuals or even businesses to discharge their debts. A announced state of individual bankruptcy may be requested not merely by collectors so that you can get what they're due but also from the financially troubled individual or organization. If it's hard to pay back bad debts, proclaiming the actual individual bankruptcy will be the right treatment for financial debt issues.

Just A Few Notes About Chapter 13 Bankruptcy Information

When you need an absolute answer to questions about Chapter 13 bankruptcy Information, it is best to talk to a qualified lawyer. Most times an introductory interview is given at no charge. This article will provide basic information that may help in decide if this Federal action is right for you.

Can You Alter A Chapter 13 Bankruptcy Directly Into A Chapter 7?

Okay, you decided to file a Chapter 13 bankruptcy which allowed you to create a plan to repay some or all your debts. The program seemed reasonable and doable at that time it was written, however right now situations have changed and you\'re simply no longer able to fulfill the terms of the arrangement. Do you have any possibilities? Could you switch your Chapter 13 plan into a Chapter 7?

Comparison of Chapter 7 and Chapter 13 Bankruptcy

Congress made sweeping changes to the bankruptcy laws that gave consumers more incentive to seek bankruptcy relief under a different Chapter rather than Chapter 7. This was called Chapter 13. This particular Chapter allows people with a steady income to keep property, like a car or a mortgaged house, that they might otherwise lose.

Could Bankruptcy Reform Help Homeowners?

Under the newly designed bankruptcy reform guidelines, homeowners can file for bankruptcy to get out of debt and in certain cases, allowed to retain some parts of their property. Cases filed under the original Chapter 7 bankruptcy law allow them to get rid of all their debts,

Filing for Bankruptcy Mandatory Counseling Requirements

In October, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act became law. With only a few exceptions, consumers filing for bankruptcy protection must receive a bankruptcy counseling certificate from an approved provider of the United States Trustee Program, an affiliate of the Department of Justice.

How to Rebuild Your Credit after Bankruptcy Filling

Nowadays, anyone can obtain a credit even after a devastating blow of bankruptcy. There is no need to immediately get upset if your credit history is bad. This problem has a solution and you can always find a way to qualify for a loan with good terms and rates.

The Filing Process for Chapter 7 Bankruptcy

Bankruptcy has become a common word among financial and domestic circles these days. With recession and financial instability doing the rounds, it is natural that people are terrified and uncertain of their next step. But it is essential to have knowledge of the procedure of its filing in court and in legal establishments.

The Process of bankruptcy

In today's world our financial transactions and our life is very much dependent on credit and loans. But many people face this problem when they have no credit for repaying it. In that situation Bankruptcy Protection is financial tool.

Debt credit counseling

They are basically collection agencies working for and under the control of the major credit card companies. The most any of these agencies will be able to help you do is lower your interest rates a little, and usually only with respect to credit cards.

Basics one need to know regarding Bank Loans, Stocks and Bankruptcy Law

According to a Wall Street Journal article that touched upon DIP or debtor in possession financing, 189 companies defaulted on liability last year causing a spike in exit loan financing demand. So who are these companies? In numerous cases they are household names like Six Flags theme-park.

Tax Firm Now Offering Bankruptcy Representation to California

After 19 years of dedicated tax resolution services to those in need across the nation, Roni Deutch's tax law firm is now offering California residents bankruptcy representation services.

What Happens If I Don’t Make My Chapter 13 Payment?

No one plans on dramatic financial changes, but they happen. When changes do arise to an individual in Chapter 13 bankruptcy, they might be misled into believing there is no other option than sticking to their schedule of set monthly payments.

The Role of a Trustee in a Bankruptcy Case

Ok, you are getting a fresh start on your financial situation by filing for bankruptcy. One of the important players that you are going to be interacting with in the case is a bankruptcy trustee. A bankruptcy trustee is a lawyer assigned to oversee your bankruptcy case. Their role in the case differs as to whether your bankruptcy case is Chapter 7 or Chapter 13.

What Is A Chapter 7 Bankruptcy?

The most frequent type of bankruptcy is Chapter 7, which is also referred to as a liquidation bankruptcy, that cancels out your debts. The entire legal process takes about three months, costs $299 in court filing fees, and commonly requires only one visit to a hearing.

Get Rid of Credit Card Debt by Filing Chapter 7 Bankruptcy

Over 23 million Americans currently can't make more than the minimum payment on their credit cards. If you find yourself in similar situations to the ones described above, remember that you're not alone and that you have more that you can do than you think. Filing bankruptcy might be the best solution for you.

How Do I Know If I Qualify For Chapter 7 Bankruptcy?

What are the qualifications to file bankruptcy? This seems to be a major concern for many people. The truth is that if you are having trouble paying your bills, you probably qualify to file for bankruptcy protection under the bankruptcy act. Businesses can file either a Chapter 11 or Chapter 7 bankruptcy and consumers can file either of those two or under Chapter 12 or 13.

Advantages and Disadvantages of Opting for Bankruptcy

Debts and other form of mortgage loan plans are always opted by people. The reasons for opting such paradigms might be in plenty. They might be running low on cash and yet want to afford that expensive real estate property, with the intention of selling them at higher rates on a later date.

The Truth About Bankruptcy And What It Offers!

Recent world events have led to an economic and financial meltdown. This has put MUCH financial burden on many people. Everyone from suburban executives to Wall Street professionals (who have over extended themselves in credit) are filing for bankruptcy. And the introduction of the Federal Bankruptcy Act of 1978 made the bankruptcy process just a whole lot easier...

File Bankruptcy to Protect You from Collectors

In many circumstances, the consumer has rights against the collector which might avoid the need for bankruptcy relief. One weapon is the Fair Debt Collection Practices Act or FDCPA.

The Myths of Bankruptcy

Like most formidable situations, bankruptcy has earned its reputation based on a few truthful facts and too many embellishments. Here are some of the most common myths about bankruptcy that you need to know before you begin your fresh start.

The Benefits of Bankruptcy

Bankruptcy has some very positive benefits for the indebted that help relieve them of their financial burden. After the new bankruptcy law went into effect in October of 2005, many people were under the impression that bankruptcy relief was no longer available or too hard to obtain. Nothing could be further from the truth.

Cost of filing bankruptcy

Declaring oneself bankrupt is a last resort in trying to fix your failing finances. There are very serious consequences that happen when you file bankruptcy. For example, the record of your bankruptcy cannot be erased for 10 years.

An Insight into Bankruptcy

In the light of the recent global economic meltdown, bankruptcy is fast becoming one of the most controversial phenomenons. People all over the country are filing for bankruptcy and the number is only increasing with the passage of each day. In this article, we shall be looking into filing for bankruptcy as well as the advantages and disadvantages that have been associated with bankruptcy.

Dealing with Foreclosure

Foreclosure is something that must be avoided in the strictest sense. Various options are available which will help a debtor in avoiding this phenomenon. It can induce emotional trauma in the minds, to see hard-earned money being wasted away due to court procedures. Sadly it is happening all over the world and the only method to avoid foreclosure is to be intelligent while making financial decisions. People are known to take extreme steps when they come to know that their property will be subjected to foreclosure in the coming days.

Avoiding An Ominous Bankruptcy In A Failing Economy

The choice on whether or not to go for a bankruptcy plan is a tough one. It can make the life of a consumer much less complicated, but only in the short term. Considering the fact that bankruptcies have effects that may last up to 10 years, the decision to obtain one is not a light decision to make in any respect.

Bankruptcy in the US

Today, when all the economies in the world is facing hard times, it is natural that, people are having a difficult time managing their finances. In the past consumer spending had increased to gigantic proportions, due to easy credit available though credit cards. This resulted in increased spending. Now with increase in interest rates, people are finding it difficult to repay their loans.

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