Bankruptcy Alternatives

Personal Bankruptcy - If it's Unavoidable, File Now

Saturday, October 31st, 2009 | Finance |

The Bankruptcy Abuse and Consumer Protection Act, signed into law by President Bush last April, promises changes to Federal bankruptcy law that have been long sought by the lending industry. The bill promises sweeping changes to Federal law, and will make it much harder for the average consumer in financial trouble to have their debts wiped out by filing for bankruptcy. Recent trends suggest that those considering a bankruptcy filing should do so now, as the line to do so is already getting ...
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File Personal Bankruptcy Chapter 13

Friday, October 30th, 2009 | Finance |

Chapter 13 is a type of bankruptcy that is referred to as a reorganization or repayment plan.  The debtor will have to pay the full or portion of his debts.   The debtor must first present a repayment plan in the bankruptcy court so that it can be approved. This means that the debtor will pay his debts with the protection of the court.  Within this time the debtor will have to pay his debts to a chapter 13 trustee.  The trustee will distribute the money paid by the debtor to the ...
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Taking The Plunge Into Bankruptcy

Thursday, October 29th, 2009 | Finance |

Bankruptcy is one of the most difficult things a person has to do. The decision to file bankruptcy is a hard one. Is it moral to wipe your slate clean through bankruptcy? Is there any way for you to avoid bankruptcy? While everyone has their own opinion on bankruptcy, bankruptcy is often the only option some people and families have. So, what do you do when you are in the midst of being bankrupt? What are your options at this bankruptcy point? Many people who are considering bankruptcy have ...
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Bankruptcy Interest Increases as Deadline Approaches

Wednesday, October 28th, 2009 | Finance |

Congress recently passed sweeping legislation that will significantly reform American bankruptcy law. Designed to eliminate the 'convenience bankruptcy' of compulsive gamblers and the financially irresponsible, this legislation will make it more difficult for those seeking bankruptcy protection from the courts to have their debts relieved. Under current law, people who have debts that they cannot repay may file under Chapter 7 of the Federal bankruptcy code, which allows nearly all debts to be ...
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Chapter 13 bankruptcy basics

Monday, October 26th, 2009 | Finance |

The purpose behind Chapter 13 Bankruptcy filing is rehabilitation of the debtor. Meaning you are given the opportunity to repay some or all of your debts.but under generally better terms (lower or no interest). Rather than having to liquidate assets to pay off debts, this process is designed to allow the debtor to use future income to pay off creditors. Chapter 13 Bankruptcy is basically an adjustment or reduction of debts for a debtor with regular income. The United States Bankruptcy Code ...
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New Bankruptcy Law - Where's the Consumer Protection?

Saturday, October 24th, 2009 | Finance |

On April 20, 2005, President Bush signed into law the Bankruptcy Abuse and Consumer Protection Act, a piece of sweeping legislation that brought about the most sweeping changes in personal bankruptcy law in the last quarter century. This bill, which takes effect in October 2005, passed with the overwhelming support of both parties of congress, claims, through its very name, to offer 'consumer protection.' Does it? How are consumers 'protected' by this bill? The purpose of the new legislation, ...
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Benefits and Drawbacks of Bankruptcy

Friday, October 23rd, 2009 | Finance |

Outlined below are some of the benefits and drawbacks of bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice. There is more to bankruptcy than as a way of finally putting an end to harassing debt collectors and creditors. One big side effect of bankruptcy being that your life is likely to be subjected to intense scrutiny. These are some of the benefits of bankruptcy: Relieves the stress caused by dealing with numerous ...
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Top Ten Reasons People File for Bankruptcy

Saturday, October 17th, 2009 | Finance |

1. Eliminate the legal obligation to pay many of your debts.. This process of wiping the slate clean is called a discharge of debts. The goal of a discharge is to reduce debt to give you a fresh start. Whether it is through straight bankruptcy (Chapter 7 Bankruptcy) or through reorganization (Chapter 13 Bankruptcy), most or all of your debts can be cleared. 2. Stop foreclosure on you house and allow you to effectively make payments to catch up on missed payments of your mortgage. If your home ...
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Bankruptcy Tips And Helpful Alternatives

Thursday, October 15th, 2009 | Finance |

Copyright 2005 Dean Shainin Before you file bankruptcy, it is a good idea to look into other alternatives if at all possible. New bankruptcy laws make it more difficult to file than it used to be. Why Has Filing For Bankruptcy Doubled? From the period of 1994 to 2004, filing for bankruptcy has doubled. Bankruptcy filing has spun out of control with consumers being targeted with easy credit. This has become a major cause for bankruptcy cases. New Bankruptcy Laws? There is now a new law for ...
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Bankruptcy - Your Fresh Start

Monday, October 12th, 2009 | Finance |

Most American consumers are living too close to the edge. They are carrying too much credit card and mortgage debt and have too little in the way of savings. When the inevitable unexpected crisis comes along, they have little left to handle it and quickly slip into a critical financial state. According to many bankruptcy experts, most people file for bankruptcy due to life-changing experiences, such as a job loss, divorce or serious illness. Uninsured medical expenses are supposedly the cause ...
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How to Find a Bankruptcy Lawyer to Help You

Saturday, October 10th, 2009 | Finance |

If you are at a stage where you are seeking to file bankruptcy, the chances are that the last thing you really need is more stress. Yet, then you have to find a bankruptcy lawyer, a process that can be both difficult and stressful. You absolutely don't want to end up getting scammed in this hugely important process and you want to be sure you get an honest and experienced lawyer to assist in dealing with your case. So just how do you find a bankruptcy lawyer?The first bit of advice to consider ...
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