3 Options if You Lose Your Debt Collection Lawsuit

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Why Do Banks Use Foreclosure And Auction As A Final Resolution?

How true, how sad... all that occurs is a huge loss for both the bank and the borrower, and in most cases because of personal guaranties there remains enormous personal debt that must still be cleared up... frequently by a bankruptcy. What other choices are there? It sounds ridiculous, yet it is the law of the land. Default on a secured loan results in foreclosure and liquidation auction of the collateral. There is a reason, not a practical one, but a logical and understandable one. Unfortunately, it yields the worst possible results but satisfies what is considered to be a higher priority.

Necessary Steps in Filling For Bankruptcy

At first the bankruptcy process can seem intimidating. The complexity and requirements of the process can be nuanced and not always intuitive. Maneuvering through bankruptcy's many different steps can be the difference whether or not you can achieve your desired outcome or not. To help you navigate through these many hurdles you should speak with an experienced bankruptcy attorney. The following are brief outlines of the bankruptcy process depending on whether you are choosing to file for Chapter 7 or Chapter 13:

Is Debt Consolidation Better Than Bankruptcy?

Many people finding themselves unemployed and their credit card debts piling up often look to bankruptcy as a way to get our from under the onslaught of bills. Before you do, however, debt consolidation may be worth a try.

Understanding Bankruptcy and How It Affects You

On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The BAPCPA has an impact on all small business owners and there are things you can do to protect your business.

Asking Yourself, Can I File Bankruptcy?

Filing bankruptcy may seem like an easy way out from under a mountain of debt, but before you answer the question, "can I file bankruptcy?" you need to seriously consider other options. And at least take into account the long term effects a "yes" answer will produce.

What Is Chapter 11?

Chapter 11 is one of the chapters related to bankruptcy in the United States of America. It allows reorganization options to businesses, corporations and individuals under the United States bankruptcy laws. It is mostly used by corporate entities which end up losing all their money. In fact, a case which is filed under chapter 11 is also popularly referred to by the term 'reorganization' bankruptcy.

Debt Management - How Bankruptcy Works

Can bankruptcy be a good route for some people? Taking the route of bankruptcy is not easy. You will lose a lot of things that you value, but for some people it may be the most viable debt management option. Find out how bankruptcy works to see if it can help you or someone you know who is having serious financial problems.

Corporate Bankruptcy - An Effective Way to Resolve Company Debts

In this modern period, times are hard and getting on the right track towards financial management and debt handling is quite tricky and complex. Debts are found in every corner and declaring for bankruptcy becomes an easy way out for most consumers, especially people in the business sector.

Bankruptcy And Probate

Bankruptcy of course is the court process by which a debtor is given a fresh financial start in life. Depending on the chapter of bankruptcy selected, the debtor either repays his creditors or wipes out their debts (Chapter 11/13 versus Chapter 7). On the other hand, the probate court process is a method for the administrator of the deceased's estate to gather all the real and personal property, determine its value, determine the existence of all heirs, determine whether there was a will and or trust, figure out all the creditors and the debts at the time...

Getting A Credit Card After Bankruptcy Can Happen If You Take The Right Steps

Most people can get loans after they file bankruptcy, so you can easily get a credit card after bankruptcy. Your credit score definitely takes a major ding when you go through bankruptcy, but it is not the be-all, end-all of your life. It is a surety that credit with decent terms still has your name out there somewhere.

Steps for Filling Chapter 13 Bankruptcy

Undergoing credit counseling at an "approved non-profit budget and credit counseling agency" within 180 days prior to filing for Chapter 7 or Chapter 13 bankruptcy is required as per the new bankruptcy law that came into effect on October 17, 2005. Taking place individually or in a group, in person, on the telephone, or over the Internet there are various ways to go through this credit counseling and Section 111 of the new bankruptcy law provides that the bankruptcy court clerk shall maintain a publicly available list of approved credit counseling agencies.

Oklahoma Bankruptcy Law - Oklahoma Bankruptcy Exemptions

Exemptions are an important concept in bankruptcy. This article attempts to provide a general overview of the bankruptcy exemptions available in Oklahoma bankruptcy. As always, this article is no substitute for advice from a Oklahoma bankruptcy attorney.

Filing Bankruptcy and Reporting Your Income

When filing bankruptcy there are three different types of income and expenses that are required to be reported on a bankruptcy petition. It doesn't matter whether you're filing chapter 7 or Chapter 13 bankruptcy, both require the same information. The three types of income that are required are actual income, projected income, and current monthly income or CMI.

Bankruptcy And Its Proceedings

Signing bankruptcy is a very anxious decision if you are under the court call. Go through with this article and learn more about bankruptcy and its proceedings. If you are under this sanction, this article will prove to be helpful to get you out of charge.

What Property Can I Keep in Bankruptcy?

By filing bankruptcy, you can still keep most of your property. A careful analysis of your assets can give you peace of mind regarding what you can keep and what you may have to forfeit in bankruptcy.

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