Riverside County residents were among the more than 27,000 people who filed for bankruptcy in the third vicinity of 2009 in the Central District of California (Riverside's bankruptcy invite). That's near 11,000 people more than filed for bankruptcy within the Central District in all 2006.What's more, the American Bankruptcy Institute (ABI) reports that those third-area bankruptcy records are an enlarge of more than 10,000 people compared to third...more
The collapse of the Investment Banking Firm, Bear Stearn will cause massive lay-offs. How many is not yet known, but it could well be into the neighborhood of 12,000 or more, currently it appears they have somewhere just over 14,000 employees, but of course, they will no longer be needed, and looks because if their 401Ks may be completely depleted. Many of the Bear Stearns employees, will be laid off or terminated and that means a huge hit to the...more
If you find yourself facing a debt, no matter what size, it can become a very stressful and depressing experience to try and prevent the debt from escalating. Do not despair, there are ways to recover from your debt and set yourself on track to turn things around.Firstly, you need to assess your financial situation and put all the facts in front of you. You will not know the extent of your situation until you assess your debt-to-income ratio. Another key indicator is the Net Worth Statement which is a snapshot of your current financial situation. To calculate this you will need to add up the total of all your assets and subtract you liabilities. You should keep track of this figure year to year. Your assets will include the things you own such as a house or vehicle, liquid assets such as savings accounts and any personal items that may be of value such as jewellery. Total your liabilities, such as the balance on your mortgage or other loans, credit card balance and any other debts you have. Make sure you are conservative with your estimates to give you the most accurate picture of your net worth.Secondly, it is important that you know how credit works. Dont be fooled by...more
Declaring personal bankruptcy is not a simple task. It requires a great deal of thought as well as an in-depth understanding of the consequences. The first thing you need to do is discuss this with the experts "" talk to a credit counselor or a bankruptcy lawyer. They will be able to tell you the pros and cons of declaring personal bankruptcy after...more
Declaring bankruptcy can affect several aspects of your life on the financial as well as personal front. It is a serious decision which should not be taken without careful though and consultation with the right experts. You should look into and assess the potential of all the alternatives available before you decide to file for bankruptcy. This...more
When you file for bankruptcy, it can have a very traumatic effect on you. The process of bankruptcy is such that the fact remains on your credit card report for a period of 10 years. Besides this, it can also lead to social isolation from your peers. Being branded bankrupt can have a very negative impact on your personality as well as your character, which need not always be the right perception. But through it all, bankruptcy is something that you can overcome. One of the first things you need to do is to come to terms with the fact that you have declared bankruptcy. Once done, you have to face all the consequences that come along with it. There are several psychological aspects that get related to declaring bankruptcy. For one, you may retain the fear of purchasing anything at a retail store or from indulging once in a while. For some other integrating back into society can be difficult, leading to a lack of a social life. You first have to accept that the episode is over and done with and you need to move on. It is a learning experience and a lesson that you will adhere to for the rest of your life. After bringing yourself back to reality, the next step is to work on your credit...more
Filing for bankruptcy comes after a great deal of events. Some of them may be unforeseeable and often end snowballing into a bad situation. A bankruptcy situation can arise not only from frivolous spending and lack of financial management. It can...more
It is a common belief that filing for bankruptcy is a way of eliminating all your debts. While in a miniscule number of cases, this is true, more often than not, you will have to pay back at least a part of that debt. Added to this bankruptcy can...more
Before you consider filing for personal bankruptcy, there are alternatives that you could evaluate for yourself. The first would be a debt settlement. In this option you hire negotiators from a company to deal with your creditors and reach an...more
When you file for bankruptcy, you have certain exemptions. What this essentially means is that the legal system allows a certain amount of your assets to remain untouched, thereby giving you the ability to start over again without getting caught in...more
Filing bankruptcy is a long process and usually is best handled by legal experts in the field. However, these too can be expensive and as a consumer, there are ways in which you can do it yourself. It will take a great deal of effort, patience and...more
Although a few options allow you actually to choose during for a personal student loan consolidation as it make sure to lessen the burden of a few payments, and supply you the liberty to settle your debt accordingly and cutting the rate also.With the...more