At the time of recession, most of the people filed themselves as bankrupt by the end of each year. This is because of economic crises that people are faced or are facing today. Before going ahead you should know what Bankruptcy is? It can be defined as legal declaration about the inability of a person or an organization to pay off his debts to his creditors. Well there are various laws for filing a Bankruptcy.People facing Bankruptcy would often...more
The economy worldwide has collapsed. The recession has killed jobs all over the world and in your hometown and suddenly you find yourself without a job and no income. Maybe you had some savings, but soon they are gone. But one thing is for sure, your creditors keep calling you to collect what you owe them. And you are trying hard, but there simply isn't enough left between your home, your car and buying food for the family. You get desperate, and you start thinking about bankruptcy and debt consolidation.Unless you are lucky to be rich you probably have accumulated a lot of debt over the years. As we walk through life we desire to spend money on things that we can't yet afford but nevertheless want to have. Things like cars, flat screen TV's, fancy watches or even necessities like furniture. You may even still be stuck with your student loans. Debt is all around you and for many people it is common to have 30-40 thousand $ in debt by the time they turn 30.And that really isn't a problem, as long as you have a job. Once you lose your job all bets are off. This is especially true for your credit card debt. Credit card debt is unsecured debt, which means it is not backed by collateral...more
In Hawaii, insurance, pensions, certain categories of personal property such as needed appliances and furnishings and clothing, burial plots, books, housing down payments, motor vehicles and jewelry up to a certain amount, and public benefits are some of the items that are exempt from bankruptcy that will allow someone to support and take care of...more
So you have the collection agent on the telephone, you owe more money than you can count and you think you have nowhere to turn. You may be considering bankruptcy as a quick fix solution to all of your financial woes. But keep in mind that while bankruptcy may cure some immediate problems, the effects of bankruptcy are long term. Having bankruptcy...more
Every chapter 7 bankruptcy comes with its own circumstances and conditions, and this time line is for bankruptcy chapter 7 information purposes only. Within 180 days prior to filing chapter 7 bankruptcy, you must take a credit counseling class at a...more
Different approaches between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy By: Jay King About the Author Jay King is a owner of BankruptcyIntro.com. We've all heard of large companies filing for bankruptcy or "going...more
Bankruptcy is a toughest decision to make. But sometimes people go with this option due to unexpected expenses. Usually, people adopt this option when they are not able to pay back the money to creditors. Good bankruptcy information is difficult to...more
These are just some options you have that you can use to eliminate credit card debt without bankruptcy to resolve your debts. From here, you can select which option will benefit you the most so that you can finally erase all of your debt and start...more
Debt Settlement Vs. Bankruptcy – What You Need To Know By: arnoldfraizer About the Author Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt...more
Bankruptcy Alternatives - Understanding The Debt Settlement Law By: ketty archer About the Author Bankruptcy is not the only option if you are struggling financially. Debt settlement is the best alternative to filing bankruptcy....more