Are you considering filing bankruptcy? Do you know how scary bankruptcy court can be? Not every situation calls for bankruptcy and there are other options to consider. Some situations do call for bankruptcy, but others call for another way to get you out of debt. Here is what to consider.You need to start by considering which type of situation you are in. If you don't have debts that total over 3 times what your yearly income is,...more
Debt is a rising problem with many Americans and there are now plenty of debt help programs to get you out of the road to bankruptcy. While bankruptcy may seem to be the only option for you now, take a moment to check out other options and the debt relief services available. You should never give up on settling all your debts without exhausting all methods and options available. When you get help, you are already on the way towards...more
Due to the difficult economic scenario which has been prevailing for the last few years, a large number of Americans have been struggling to meet their mortgage payment commitments. Many homeowners facing foreclosures are now increasingly evaluating the option of filing for bankrupcy protection in order to either try to stop the foreclosure proceedings or to discharge any debts resulting from the foreclosure. Bankruptcy is a complicated process and after the passage of the Bankruptcy Reform Act in 2005, the level of complexity in the process has increased even more. This has been leading to an increasing number of Americans who are seeking bankruptcy help.While bankrupcy may offer you an opportunity to start on a clean slate, it would destroy your credit and would most probably force you to sell your assets, in addition to adversely affecting your future employment prospects. Therefore, it is always advisable to avoid bankrupcy in order to preserve your credit. But there may have been different trying circumstances that you may have been facing when it wouldn't have been so easy to do so. The best course of action when you find yourself in a tricky situation is to immediately get...more
A counseling session with a debt help online company will enable you to find the best way to repay your dues and restore your finances once again. If you have racked up a lot of bills and you wish to get your finances back in order, then you may either go for free debt help or take professional guidance in paying off your bills. Buyers are...more
Debt settlement is, in fact, a perfectly legal solution for consumers who are in too deep and seeking an alternative to bankruptcy. Debt settlement is also known as debt arbitration or debt negotiation. The process of debt settlement basically involves negotiation between the debtor and creditor. Debt settlement can be initiated by almost any...more
For consumers facing foreclosure of their properties, sometimes bankruptcy protection is the only option left. While sometimes bankruptcy may be the only recourse left, it is fraught with dangers. It would most certainly damage your credit, which will have tremendously adverse implications on your borrowing capability, and may also negatively impact your future employment prospects. Therefore, it is always advisable to consult a good attorney who will be in the best position to fully analyze your financial situation and help you decide whether bankruptcy is the best option for you. A good lawyer can help you ascertain which bankruptcy chapter you should file and also assist you in charting out a plan to safeguard your assets to the maximum extent possible. While it may be a good idea to take the advice of an experienced bankruptcy attorney, the decision of whether or not to file for bankruptcy has to be yours. Consumers can generally file for bankruptcy under the following two types- Chapter 7 and Chapter 13. If you are unable to cover your debts with your assets or income, you may decide to file a Chapter 7 bankruptcy. While under this type of bankruptcy, you may be able to...more
A structured settlement annuity is often the alternative to lump sum settlements when resolving cases out of court. This involves an agreement for a predetermined amount of cash to be paid out to one party for a fixed length of time. These payments...more
Bankruptcy is almost always regarded by many as the last resort to solving a debt problem. Not the most popular of options, the stigma surrounding the issue may stick around long after the debtor is discharged and debts are written off. Basically...more
There are instances and certain cases where there is no other way out of debt but to file for bankruptcy. In some cases, you might be able to foresee the circumstances that might give you no other choice. However, you can’t always foresee the...more
Bankruptcy may not always be the best way for you to rid your life of debts. In most cases, it might be the last advice your credit counselor would give you. More often than not, there are various other ways for you to pay off your debts without...more
Filing for bankruptcy is not an easy task. It takes a lot of courage to even step into the courthouse to file for bankruptcy. It is also advisable to acquire some knowledge to fill in all the necessary paperwork and compiling all the required...more
Several institutions, individuals and groups are promoting bankruptcy as a viable option to clear personal debt. While it is true that bankruptcy is an option to clear debt, it should also be known by those who are contemplating in...more