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Mon, 23 May 2016 00:00:00 -0400In our previous installment on life after bankruptcy we discussed the curveball filing for bankruptcy can throw at you. In this installment we will continue to review ways in which you can rebuild your financial life after filing for chapter 7 bankruptcy or chapter 13 bankruptcy. Bankruptcy attorneys recommend that individuals who have filed for bankruptcy begin to re-establish their credit as soon as they possibly can.
Sun, 10 Apr 2016 00:00:00 -0400If you are considering personal bankruptcy it is important to understand the laws and how they affect your situation. New bankruptcy laws have been put into place to help individuals get out of their current situation before they have to resort to filing for bankruptcy. New bankruptcy laws make credit counseling mandatory within one hundred and eighty days of an individual filing for bankruptcy. Individuals must relay all pay stubs that are received within the sixty days prior to bankruptcy be filed with the court.
Thu, 31 Mar 2016 00:00:00 -0400The task of rebuilding your life after you have filed for bankruptcy can seem quite overwhelming. It is important to recognize that your life is in the midst of a transformation. Bankruptcy allows individuals to start over; it provides a clean slate where you are in control of your life unlike your previous life which was being ruled by your debt.
Mon, 26 Nov 2012 00:00:00 -0500Chapter 12 Bankruptcy has been specifically designed for the small farm owners, whose majority of the family income comes from agricultural produce. You can consult a reputed attorney to discuss your bankruptcy.
Wed, 20 Jul 2011 00:00:00 -0400After bankruptcy everything is hard. Being emotionally motivated to do anything with your finances, getting credit cards, talking about your situation with people, getting insurance, getting a job, and getting loans are all among the long list of areas where things have changed for you. Doing these things is important though because if you just hide away your life will never really move forward.
Wed, 20 Jul 2011 00:00:00 -0400The truth is that once the last of the paperwork has been filed most people are just sick and tired of talking about their finances. It's understandable that now you want to be done and stop thinking about all of this, but there will come a time when you'll be wanting a car, to rent a new apartment, or to buy a house and you'll be needing to have a decent credit score. Yes, in seven years this will all age off, but seven years is a long time - and if you haven't done anything in those seven years it's not as though you'll have a good score then, either.
Tue, 14 Sep 2010 00:00:00 -0400In this current economic situation, people are desperate to save their homes, and will listen to just about any suggestion, or infomercial, that comes their way. There are a number of businesses out there that are aiming to take advantage of the current downturn and to take advantage of people's desperation, and some of these opportunities are legitimate while others are downright fraudulent.
Thu, 12 Aug 2010 00:00:00 -0400If you are engulfed with monetary problems that are difficult to shake off then filing bankruptcy can be a great option for you. Personal bankruptcy filing hampers your credit report for the upcoming 10 years. But it is the best relief option to bank upon when every other option fails.
Tue, 10 Aug 2010 00:00:00 -0400Bankruptcy is one glaring outcome of global recession and a condition that has affected millions around the world. Filing for bankruptcy may seem the easy way out of many debt-ridden situations. But, not to known to many, this is definitely not the best solution. Declaring yourself bankrupt will affect your credit scores adversely and in some cases, your property may also be confiscated. What is more, you cannot be sure that all your debts will be waived. So consider alternative options; ones that will thwart bankruptcy.
Sun, 25 Apr 2010 00:00:00 -0400According to a 2008 survey by the American Payroll Association, 71 percent of American workers are living paycheck to paycheck. If you are one of the many who live paycheck to paycheck, or if you have fallen behind, here are some tips that can help you get back on track...
Fri, 19 Feb 2010 00:00:00 -0500There was a time when bankruptcy was probably the biggest stigma that could be attached to anyone in business. Thankfully those days are long gone. Today, bankruptcies are fast, efficient and frequent court procedures designed not as a punishment for the creditor, but as a means of drawing a line under un-payable debts and allowing everyone to move on. While most people would not exactly like to be made bankrupt, in most cases where it becomes necessary, it is seen as a welcome release rather than a humiliating penalty.
Sat, 23 Jan 2010 00:00:00 -0500Bankruptcy is complicated and the exact steps can vary from state to state, each chapter of bankruptcy uses the same terminology and follows the same basic process. There are seven different chapters under which a bankruptcy case may be filed.
Wed, 13 Jan 2010 00:00:00 -0500If your financial future has been looking a little less-than-bright since you filed for bankruptcy, you may be wondering if you will ever qualify for traditional financing again. Hope is not lost - there are ways to improve your chances of getting financing again, whether you are looking for a credit card, an automobile loan, or even a home loan.
Fri, 18 Dec 2009 00:00:00 -0500The entrepreneurial spirit is one of the touchstones of American culture that has made our country so strong. The willingness of driven individuals to step out and risk their financial stability for the sake of a business they believe in has been a catalyst of our country's growth. However, a recent study by the University of Nevada showed that one in seven bankruptcies are filed by individuals tying to cope with the failure of a small business. While corporations or partnerships cannot file for bankruptcy, Chapter 7 and Chapter 13 are often used by entrepreneurs who are trying to deal with personal and business debt.
Tue, 15 Dec 2009 00:00:00 -0500Most credit specialists agree that the worst possible credit entry on your credit statement is a bankruptcy! Whether you have filed a Chapter 13 or Chapter 7, it demonstrates a complete failure in managing your credit, regardless of why you filed.
Tue, 24 Nov 2009 00:00:00 -0500Bankruptcy can be devastating to your personal credit file - and most post-bankruptcy credit scores plummet drastically once your bankruptcy is made a part of your permanent credit record. Do not feel alone in your situation - there are thousands of borrowers who find that they have no alternative other than to file bankruptcy when they get to a point where they have overextended themselves financially.
Sun, 22 Nov 2009 00:00:00 -0500Filing for bankruptcy is not an easy decision to come to, especially since it leaves such a mark on your credit history. Unlike items that have gone into collections remaining on your credit report for seven years, a bankruptcy discharge remains there for ten years.
Thu, 12 Nov 2009 00:00:00 -0500If you have been contemplating bankruptcy then it means you have not been able to manage your finances like you wanted to. However, declaring bankruptcy is a big step. It reflects on your account for 7 to 10 years and may influence lenders' decision in future when you apply for another loan. It is always a better idea to clear off your debts instead of filing bankruptcy.
Thu, 12 Nov 2009 00:00:00 -0500Sometimes finances get past the point of being salvageable; it might be in your best interests to file bankruptcy. But if you can avoid filing bankruptcy, it is worthwhile to make the effort, to save your credit, status and long lasting negative effects of filing bankruptcy.
Wed, 11 Nov 2009 00:00:00 -0500Bankruptcy law in the US has come under tremendous improvement over the years, taking into consideration individual debtors' civil liberties. Nonetheless, criticisms argue that US bankruptcy legislation has failed partially to integrate apposite legislation to defend the rights of individual debtors.
Thu, 16 Apr 2009 00:00:00 -0400Find out about the legal processes involved in filing bankruptcy, what the costs or each element are and whether there are circumstances in which any of these costs can be waived. Filing bankruptcy is a set legal process, so you have to go through certain procedures to complete the process. The fact that you are considering filing bankruptcy in the first place means that the last thing you want is to spend more money to do this, so it is important to understand your options.
Sun, 22 Mar 2009 00:00:00 -0400Bankruptcy is surrounded by many myths. Some are true, some are not, and some are merely rubbish. People often refrain from filing for bankruptcy when they truly need it just because they are afraid of it. Just like children who are afraid of the dark. Utter fear of the unknown. This article seeks to debunk the most common myths related to bankruptcy, read on and find out more!
Sun, 22 Mar 2009 00:00:00 -0400Filing for bankruptcy is often thought of as an extreme measure. But truth be told, sometimes it is the only way out. People are afraid of bankruptcy claims due to the many myths surrounding it, but you should know better: bear in mind that myths are just myths. The best way to fight this sometimes irrational fear of bankruptcy filing is knowledge. By becoming knowledgeable on everything bankruptcy related, you will get to know what it actually entails and how you will benefit from it.
Mon, 16 Mar 2009 00:00:00 -0400Filing a bankruptcy claim can be a very stressful procedure, specially when you do not really know what chapter to file for. And now with the new law, some individuals will not even have the chance to choose, they will either qualify for both chapters or just for Chapter 13. The idea behind this measure is to prevent wealthy families from filing for Chapter 7: now their options are limited. But those lucky ones who do have the chance to make a choice, are at a loss.
Wed, 04 Mar 2009 00:00:00 -0500This article looks at the choices faced by people in the unfortunate position of threatened with foreclosure or the repossession of their home. Filing bankruptcy is a drastic step, but many people are happy to consider it if it can save their home. After reading this article you should understand how bankruptcy law works in both the US and the UK in respect of foreclosure. You will also understand the differences between Chapter 7 and Chapter 13 bankruptcy, and why this is important in saving your home.