Before filing for bankruptcy you should know exactly what constitutes secured and unsecured debt, and whether both be discharged by filing for Chapter 13 or Chapter 7 bankruptcy protection? The simple answer is yes to both, but in the case of secured debts the answer becomes more convoluted. Consult
Part of the multi-year Chapter 13 bankruptcy process involves making payments in accordance with a court-approved payment plan. However, as financial circumstances can often change over a period of years, payments in a Chapter 13 bankruptcy can also change, even if they were agreed upon at the time
For many people declaring bankruptcy, keeping their home is their No. 1 priority; for others, getting out from under their mortgage is their main motivator for filing bankruptcy. In many cases, even people filing for a Chapter 7 -- total liquidation -- can keep their home if they choose; those filin
Like any legal process, bankruptcy filings have do's and don'ts to weigh carefully. Instead of waiting for someone to rescue him, a debtor should accept the reality of his situation and keep in mind, for example, that: 1) late filings may leave a debtor at his creditors' mercy; 2) no debtor should f
It is obvious that loan takers are not in the same position now. Have you studied the old personal bankruptcy laws? According to the old laws, the credit card company cannot do anything if you declare yourself bankrupt. In other words, it loses lot of money and it cannot do anything about it. Thus,
File Chapter 7 or file Chapter 13? This article helps you make decisions on what form of bankruptcy to file.
Many creditors, when they hear that you are considering declaring bankruptcy and who are well aware of the fact that bankruptcy laws are there to protect the borrower, will suddenly become much more flexible.Filing insolvency process as per the state laws will also allow you to exempt Personal bodil
If you are facing bankruptcy it's important that you understand not only what to expect, but also what you can do. Use these tips to help you get things back on track.
If you want to know how to stop home foreclosure then you should really pay attention to what you are reading now. There are many people that are involved in situations like a commercial mortgage foreclosure and if you have been through something like this, then you know how bad this situation can g
Bankruptcy is option which can be taken by any individual, bankers or any other organization. By declaring for bankruptcy, the bankrupt person or organizations are declaring that they cannot pay their debt back. In the present scenario the bankruptcy is option which should not be considered by an in
California residents can usually exercise their federal right for individual debt relief through bankruptcy, according to the U.S. Bankruptcy Court Central District of California and the book “How to File for Chapter 7 Bankruptcy.” However, any type of bankruptcy requires a detailed cour
Most people think that once you have filed for bankruptcy you will no longer be liable for credit card approval, due to the bankruptcy credit report. Although the bankruptcy will stay on your report for the next 10 years, or less if you file under Chapter 13, this does not exclude the possibility of
Your credit report contains records documenting your financial behavior. In addition to positive financial data, such as mortgages, credit cards and car loans in good standing, it also lists negative information, such as your unpaid debts, charged-off cards and collection accounts. This negative inf
Life after bankruptcy has never been easy. Besides other unpleasant outcomes, these days, a new kind of threat called the "identity theft" may also target you after you have been declared as bankrupt. Different types of credit offers may be solicited to you and you may also get engaged in
Facing foreclosure can be a troubling time for any homeowner. While each state has its own laws to govern the rights of homeowners and the responsibilities of mortgage lenders, foreclosure is seldom a graceful process. In Connecticut, where foreclosures happen relatively quickly and homeowners don't
Crown Financial Ministries uses biblical money-management principles to teach people worldwide how to handle their finances. According to their website, as of 2011, the ministry has taught these principles to more than 50 million people in over 80 countries since 1976. The ministry has about 250 emp
Questions you might encounter at your Chapter 7 meeting of creditors.
Most American borrowers are considering debt settlement plans as a method of getting rid of unsecured debt. In the past most people were not aware of the settlement option.
People in Connecticut go into bankruptcy for a spread of different reasons. There are many different types of insolvency that an individual could decide to file for, and so there are many different eventualities prompt ...
Because so many people are filing bankruptcy nowadays, it has become a popular subject in the news. Nations are bankrupt, companies are filing bankruptcy and because of the large degree of unemployment in addition to ...
