Bankruptcy: Caught in a Rat Race Get a paper, divide it into two, and make an inventory of all your assets and liabilities. Studies show that the middle class are caught in a rat race, meaning they continue to amass liabilities, but their assets remain constant.Assets refer to all ownerships and property. This includes bank accounts, monetary savings, automobiles, and houses. Assets are all material things with an economic value. Assets...more
Bankruptcy Help: How It Can Help You There are many companies that offer programs designed to help with the bankruptcy process. These bankruptcy assistant programs can help you to not only file for bankruptcy, but can help you every step of the way to help you get a lower interest rate on a good payment plan that will be tailored to your needs if you are required to pay off some of your debt. There are also places on-line where you can...more
Bankruptcy Lawyer: How They Can Help A bankruptcy lawyer will not only help you along the bankruptcy process, but can help you to get a low interest rate if you are required to be on a payment plan. Since October 17th, 2005, there have been new rules put into place regarding bankruptcy. These new rules involve qualifications that you must go through in order to have it be determined if all your debt will be wiped away, or just some of it, if any at all. So, going through the bankruptcy process not only takes a lot more time with a lot more work involved than it did back in the day before the year 2005, but going through the bankruptcy process will no longer guarantee that you will have all your debt wiped away! Not only that, but because of all the extra work and time involved with filing bankruptcy (yet millions of Americans still do), bankruptcy lawyers have become a lot more expensive as well.The new rules for bankruptcy make everyone pass through two main tests. The first test is proof on income. You must prove that your income is lower or equal to the median household's income of your same size. If you do not pass this test, you need to take another test called a means...more
Chapter 13 Bankruptcy Lawer Specifics While points could be slowly strengthening, the globe economic climate is still on a knife edge correct now and businesses are nonetheless obtaining buying and selling conditions tough. Numerous men and women have been built redundant in the past year, and when this comes about there is generally a...more
Bankruptcy Lawyers: What They Will Do For You Although the new bankruptcy laws have made it harder to file for bankruptcy by dragging out the process with qualifications to even qualify to have all your debt wiped clean, although it may discourage some to declare bankruptcy, bankruptcy lawyers still have their hands full with work. Although...more
Modes of Payment in Los Angeles Bankruptcy Law Los Angeles is one of the most progressive cities in the United States. It is the center of trade, commerce, tourism, and entertainment in California. Many information technology and manufacturing companies have their headquarters in the city. Big corporations fuel the city's $831 billion economy. Economists say Los Angeles is one of the richest cities in the United States, second only to New York. Businesses play an important role in the city's progressive economy.During the 2000 economic downturn, Los Angeles' economy was direly affected. Several commercial establishments closed down. Stocks and financial assets plummeted. Companies filed bankruptcy in court.Bankruptcy refers to inability to pay liabilities. In law, liabilities are debts and credit accounts. These include cash advances, credit cards, and personal debts.Some businessmen begin business with a collateral capital. They acquire collateral capital from bank loans. A collateral capital is a form of liability. Businessmen are sometimes unable to pay their collateral capital in due time. They have constant sales and revenue. Their sales value is equal, or worse, less...more
Credit Card Debt - Bankruptcy And Debt Settlement Which Makes More Financial Sense Due to monetary crisis in economy, many individuals are going through the pain of credit card debt. People usually use credit card in order to get along with...more
How Much Do Qualified Bankruptcy Attorneys Cost? A better question to ask is, "How much will it cost me to go through a bankruptcy without a qualified attorney?" If examined from the perspective of making an investment, the cost of an attorney...more
Can I Still Benefit from a Chapter 13 Bankruptcy if I Make too Much Money to File A Chapter 7? Even if a debtor is disqualified from filing a Chapter 7 Bankruptcy based on income there are still significant benefits which can be achieved by...more
How to Prepare to File for a Chapter 7 Bankruptcy The bankruptcy process in California can yield many benefits to filers of a Chapter 7 bankruptcy. The added complexity of the process since the bankruptcy code overhaul in 2005, however, now...more
How Will Filing for Bankruptcy Affect My Credit? How a bankruptcy filing affects a filer's credit score at the time it is filed depends on where the score was the day before the filing. With consumer finances becoming more integrated by the...more
Is Skipping a Mortgage Payment to Pay for Bankruptcy a Smart Move? California residents planning to file for a Chapter 7 or Chapter 13 bankruptcy have some opportunities to skip payments on certain bills in order to save up cash for legal fees...more