So,you are almost naked deep in debt and you think that it's impossible to get out of the quick sand,right?Well,it is an indication that you need professional assistance.Do you know how to file for bankruptcy?Because in such situation bankruptcy helps to get out of your debt with dignity.Bankruptcy is a legal help,typically structured to give people a fresh start,free of debt.When you think that there is hardly any way out and you...more
On August 23rd of 2005, Hurricane Katrina formed during the Atlantic Hurricane season and devastated New Orleans and all of the Coast of Louisiana. Loss of property and life caused a change in the lives of those living along the coastline. Due to the massive destruction, for those people filing bankruptcy in Louisiana leaner restrictions will be allotted.The new bankruptcy forms will still be filled out but specific restrictions...more
The main goal when filing bankruptcy is to allow honest individuals who have had unfortunate events occur which have lead to severe debt, to have these debts discharged, thus relieving the debtor from their previous debts. This allows the debtor to pursue a fresh financial start. This was the decision of the Supreme Court in 1934. If you are a resident of Delaware who is facing severe debt and you are considering filing bankruptcy, you can find the debt relief that you so desperately need. In order to do so there are two main requirements, which are necessary to complete when, filing bankruptcy in the state of Delaware.Credit CounselingThe Bankruptcy Act of 2005 requires that all persons filing bankruptcy after the date of October 17, 2005, must receive credit counseling 6 months prior to filing bankruptcy. They must also complete a financial management course after the file of bankruptcy.Means TestThis same act of 2005 requires an individual's average income and expenses from the previous six months to be compared to the median income of the state. If your income level falls below the median you are able to choose to file Chapter 7. If your income level exceeds the...more
"Money, money, money. Must be funny in a rich man's world". Very aptly put by ABBA, money is meant to be spent. It is the source of pleasure and gratification of many people . Indiscriminate spending may be the inclination of the Bill Gates of the world. But what if you don't have the means to indulge in this penchant for spending?...more
There is a bankruptcy court for every judicial district in the United States, totaling ninety. Each state has one or more, Kentucky has two. The Eastern district is located in Lexington, Kentucky and the Western district is located in Louisville, Kentucky.Each state offers varying bankruptcy requirements and laws, but the overall...more
There is a way to reduce your debt and not lose everything you have worked for all your life. Chapter 13 bankruptcy can do just that. It allows you to pay your debtors over a five-year period with little or no interest incurred. There is one catch however; you have to have a regular income. There are other criteria that you have to meet, but the regular income is the most important. To find out if you qualify, you will need to contact a bankruptcy attorney. He will be able to lead you through this process with ease.In filing a Chapter 13 bankruptcy, an attorney can help you determine if this is the best way for you to go. When it is determined that you should go this way, he will assist you in making a budget. This will help in deciding the amount of payments you will be able to afford. He will also help you determine the best way to deal with your creditors and assist you in getting the methods set up to do so.Now that you have made these decisions, you and your attorney will need to complete a plan for the Chapter 13 and complete the forms required by the courts to get the procedure started. These forms can now be filed with the court systems. A filing fee will be...more
If you're a bankrupt you are a poor credit risk. Ergo, you can't get a credit card easily. Here are a few suggestions for the needy:1. A secured credit card from a foreign bank.A UK or US bank might not touch you, but a Caribbean or...more
When you take the time to view the statistics of bankruptcy you will be alarmed and shocked. In a years time form 2006 to 2007 the number of bankruptcy filings increased by 39,365. On June 30th, 2006 it was recorded that for the year a...more
Millions of people around the world have been affected by the recent economic crisis. There has been a sharp increase in the number of loan defaults, foreclosures, liens and repossessions in the country since the economic crisis first...more
The very word "bankruptcy" puts fear into many people's hearts. For years, the word has been equated with being destitute, being unable to pay bills and being financially insecure. But is that all that bankruptcy is about? The truth of...more
If you are a homeowner with a recent bankruptcy and have been dropping mortgage refinancing, a new mortgage could help you build your credit again. It is much easier to get approved today with a recent bankruptcy than in previous years,...more
A growing number of individuals and families out there are in desperate need of a way to eliminate credit card debt without bankruptcy. Some of the things that can easily push a person or family into debt include the following.#1...more