About Bankruptcy

New Bankruptcy Legislation May Make it Harder to Find an

Friday, September 11th, 2009 | Finance |

The recently passed Bankruptcy Abuse prevention and Consumer Protection Act will make it harder for people with problem debt to have their debt eliminated through filing for bankruptcy. This new legislation will make it harder to have debts wiped out by the courts, and will require more debtors to pay back some or all of their debts. Considered by many to be a gift from Congress to the major credit card companies, this new law has many people rightly concerned about how to best deal with ...
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Mandatory Credit Counseling for Those Considering Bankruptcy

Thursday, September 10th, 2009 | Finance |

Most Americans are aware of the sweeping changes in U.S. bankruptcy law that were made by Congress recently. These changes, strongly supported by the credit card industry, were designed to make it more difficult for Americans to file for bankruptcy under Chapter 7 of the Federal bankruptcy code. Chapter 7 allows consumers to essentially have all of their debts wiped away by the court. While many people will still be able to file under Chapter 7, many more will have to file under Chapter 13, ...
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How to Simplify Your Debt Load

Wednesday, September 9th, 2009 | Finance |

With the consumerist economy of western culture, it seems only natural that shoppers are going to build up a fair amount of debt over time. There comes a time, however, where one's debt becomes a huge burden, with a mish mash of high interest creditors all clamoring for payments. Fortunately, there is a way to save money, while simplifying your financial situation. Debt consoladation allows people who are neck deep in debt to avoid the unpleasant hardship of bankrupcy by taking out a single ...
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Bankruptcy Interest Increases as Deadline Approaches

Tuesday, September 8th, 2009 | Finance |

Congress recently passed sweeping legislation that will significantly reform American bankruptcy law. Designed to eliminate the 'convenience bankruptcy' of compulsive gamblers and the financially irresponsible, this legislation will make it more difficult for those seeking bankruptcy protection from the courts to have their debts relieved. Under current law, people who have debts that they cannot repay may file under Chapter 7 of the Federal bankruptcy code, which allows nearly all debts to be ...
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Bankruptcy and Debt - New Law May Hurt Katrina Victims

Monday, September 7th, 2009 | Finance |

The world remains horrified at the tremendous destruction caused throughout the Gulf Coast recently by Hurricane Katrina. An unknown number of people are dead and thousands more are homeless, jobless and completely destitute. It may be months before the city of New Orleans is inhabitable again, and in the meantime, most residents of the city will have little or no income. This is a problem, as most people will continue to have payments due for credit cards, auto loans and mortgages. A number of ...
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Are You a Candidate for Bankruptcy?

Sunday, September 6th, 2009 | Finance |

Bankruptcy laws give debtors a way to resolve debt by dividing their assets among their various creditors and in some cases will allow debtors to be freed of outstanding debts that cannot be paid, even after the division of assets. For individuals who find themselves unable to pay their debts, bankruptcy can be a viable option. As a debtor, you are entitled to file for bankruptcy. There have been recent changes to bankruptcy laws that may affect your ability to discharge your debts ...
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Iva for People With Bankruptcy

Saturday, September 5th, 2009 | Finance |

We hear a lot about bankruptcy these days. The financial system has become quite pressurized due to the businesses making huge losses. Well, there are many people for whom it becomes really difficult at some point in time to handle this pressure. Thanks to IVA that such people get some financial relief. IVA is a short form of Individual Voluntary Arrangement. It is truly a good option for people who are nearing the state of bankruptcy. But some businesses or people simply can't afford to be ...
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Credit Counseling Or Bankruptcy

Friday, September 4th, 2009 | Finance |

People often get to a place where they simply can't pay their bills, especially in today's economy which is not particularly sympathetic toward the poor or even the middle class. Inflation has impacted nearly every facet of daily life including food, gas, rent, clothes, utility bills and more. At the same time, salaries, especially in the lower ranges, have utterly failed to keep pace. When you get to the place where you cannot pay your bills and have money left over for food and other ...
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Avoid Bankruptcy

Thursday, September 3rd, 2009 | Finance |

The first but definitely not the easiest thought that comes to most people when they are neck-deep in debt is to file bankruptcy. Filing bankruptcy seems to be the last straw left in the deluge of unpaid bills and abusive creditor calls. The situation is somewhat like this. You buy whatever catches your fancy and you thank yourself you had the blessed credit cards. It's good as long as you are spending. When it's paytime, you realize your misdoing. Abusive creditor calls may be robbing you of ...
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Credit Counseling

Wednesday, September 2nd, 2009 | Finance |

It is a simple fact that people often need help when they are faced with serious financial problems such as forclosures or bankrupcy. Luckily, there are agencies out there that are willing to provide such help and advice. These agencies have saved many people from complete financial ruin and can be very useful in the quest to eliminate debt and fix bad credit. About the author: Jeremy Maddock is the webmaster of FinanceFacts.info, a useful source of finance articles. ...
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You should only declare bankruptcy if you absolutely have to

Tuesday, September 1st, 2009 | Finance |

Bankruptcy is something that you should try to avoid unless it is absolutely necessary. There are several ways that you can determine whether or not you need to declare bankruptcy. Essentially, this is the best choice for you if you do not have a better way to pay off any of your bills, and if you do not think it is possible for you to ever get out of the debts that you owe. If this is the case, then bankruptcy is a way to avoid paying more than you can afford, and it will allow you to take a ...
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