If no bankruptcy option can work for you and you lastly file Chapter 13 bankruptcy, the excellent thing is that it will eliminate the contact among you and your creditors. You will be making payments to the trustee who in turn will pay your creditors. Now the creditors are not going to contact you directly or going to call anymore. The whole payment might be completed from any time between three to five years.What Bankruptcy Alternatives Are...more
Bankruptcy laws in the United States are governed by federal government and the federal law bestows individuals, business and even towns and cities with a legal right to file bankruptcy. There are six important types of bankruptcies that one needs to know about if he/she is seeking to file bankruptcy. However, you must always remember that any kind of bankruptcy proceeding should only be the last resort and should only be considered when all...more
Eliminate credit card debt fast - Get Out of Debt and Prevent Bankruptcy By: Alice Johnson About the Author Here is the #1 resource to Eliminate credit card debt fast just click here to get out of debt now (ArticlesBase SC #3050177) Article Source: http://www.articlesbase.com/ - Eliminate credit card debt...more
Too much debt can bring a devastating result in a company's or an individual's life. Providentially, bankruptcy laws exist to bring respite to the person who is overburdened with debt. There are different chapters of bankruptcy laws for different circumstances. The laws also keep changing and if you are planning to seek bankruptcy then you must...more
Choosing to declare bankruptcy is entirely a personal decision and it may induce different consequences on your professional and financial life. People who are under great burden of debt generally have two choices when filing bankruptcy. They can declare Bankruptcy either under Chapter 7 or Chapter 13. Declaration of bankruptcy under Chapter 7 allows you to seek forgiveness of most debts, file the same declaration under Chapter 13 will lower the debt amount and each structure them into a repayment plan which will be court-supervised. It is important that you have the knowledge of right regulations to successfully declare bankruptcy.You can prepare yourself a bit before declaring bankruptcy. It is a good idea to make a list of your debts, child support, pending student loans, daycare costs, alimony and utility bills. There is a required set amount of information that you will need to declare while filing bankruptcy whether you do it own or you hire an attorney.You must also prepare a list of assets that also includes interests from any property or your house. You will also have to include savings account, stocks, any expensive jewelry or any other personal property. You also have to...more
Declaring personal bankruptcy is a very sensitive issue. In fact, it is one decision that is going to decide your future. Sometimes life under heavy debt may feel like a failure. Fortunately, bankruptcy laws have been designed to provide respite to...more
Although there are a lot of people under the impression that declaring personal bankruptcy is a sure shot way of clearing all the debt but in reality all debts do not get cleared by claiming bankruptcy. Payment related to child support, alimony, any...more
Anyone who is keen on learning about how do I claim bankruptcy has to search up the various types of choices that are obtainable online. If you are doing your homework you may be in a position to find a quality service which will work for your needs....more
While laws vary depending on the state, individuals seeking bankruptcy protection have the choice of representing themselves. Going to court pro se, however, can potentially turn an already stressful situation into a disaster for the debtor. Due to...more
http://www.taxproblem.pannipa.com/2009/12/17/bankruptcy-it-true-that-you-can-not-discharge-taxes-in-bankruptcy/Bankruptcy – It 'true that you can not discharge taxes in bankruptcy? By: Fredy About the Author About Author...more
A Bad Credit Debt Consolidation Loan is a good solution all round. It allows you to initially gain control of your debt and then manage it in a responsible manner. There is however still the issue of how you came to lose control of your finances in...more