4 Unexpected Ways to Win Your Debt Collection Lawsuit

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What You Need to Know About Bankruptcy Myths

The most common myths associated with bankruptcy are uncovered. This is important information you need to know before filing for bankruptcy.

Chapter 7 and 13 Bankruptcy

There are several different kinds of bankruptcy. Here is a description of two of the main kinds.

The Debt Agreement

A debt agreement is a legal agreement between a debtor and their creditors under section 9 of the Australian Bankruptcy Act.  The agreement allows for repayment of less than the amount currently owed in full settlement of the debt. They were introduced into legislation in 1997 by the Howard Government in order to provide an alternative to bankruptcy for those with a capacity to repay some but not all of their debt.

Bankruptcy Can Eliminate Liability That Is Caused By A Foreclosure

Since the financial markets bolted down in 2008, it seems that nothing is really getting much better. Unemployment is staying right around 10% and the funny thing about that is the way it's reported is that it only counts the people that are receiving unemployment benefits. If you consider all the independent contractors, realtors, loan brokers and even those that have exhausted their benefits and still don't have a job, that number would probably be double.

Bankruptcy Fraud Is A Fast Track to Court

Bankruptcy is one option that may help people alleviate their debt, protect their assets from creditors and regain control over their finances. Although bankruptcy laws are fairly lenient when it comes to protecting the debtor's assets, many people abuse the system and commit bankruptcy fraud in efforts to protect their assets.

Understanding What Type of Bankruptcy Is Right for You

Which type of bankruptcy is right for you? Read more to find out more about the different types of bankruptcy.

Bankruptcy Can Happen to Anyone

Money is something that people in "polite society" never discuss. So it makes sense that bankruptcy falls behind that same veil of silence. However, the fact of the matter is, no matter how successful a person may seem circumstances in life can conspire to utterly reverse that success.

Filing Bankruptcy - Know About The Advantages

Bankruptcy is the state of an individual or a business unable to pay off their debts. When talking in legal terms, bankruptcy is the settlement of liabilities of a person or organization, completely or partially, who are usually in a situation of being unable to pay the sustained financial obligations.

Potential Problems In Filing Chapter 7 Bankruptcy

Any person filing for Chapter 7 bankruptcy targets to have all debts to be discharged if possible. In general, the rule says that financial obligations are wiped out if they were created before a person has filed for Chapter 7. All debts are eradicated, and debt collectors can no longer collect from the debtor once the debts are discharged. Although debts can be discharged, debts like mortgage or car loan are not discharged by filing of Chapter 7.

Virtual Bankruptcy Assistant

Bankruptcy attorneys are in high demand in these down turned economic times. If you enjoy working from home, having a flexible schedule, yet helping to improve lives, being a Virtual Bankruptcy Assistant may be for you!

An Introduction to the Chapters of Bankruptcy

If you're not a member of Mensa, and you don't have Johnny Cochran on retainer, then you're probably overwhelmed by the complexities of bankruptcy and its legal ramifications. However, you might find that an overview of the three most common chapters of bankruptcy will help put things in perspective and improve your overall understanding of the bankruptcy process.

State Exemptions for Bankruptcy

Each state has their own set of bankruptcy exemptions. Bankruptcy exemptions are used to allow the debtor to keep a certain amount of property, even when filing bankruptcy. Any other property that is not exempt is subject to selling (by the trustee) for funds to pay off the debtors creditors.

When Can You Strip Away A Second Mortgage In Bankruptcy?

New York law provides that judgments, as well as first and second mortgages, act as liens against real property. That means that once a judgment is filed against a client, it acts as a lien against their real estate, along with a mortgage or a Home Equity Line of Credit ("HELOC") lien on the real estate. These act as secured debt which must be paid off when a party refinances or sells their home.

Use Exemptions In A Bankruptcy Filing To Protect The Family Home

With the high amount of foreclosures reported over the last couple years, many Americans are looking for any way possible to protect their home. As property values continue to plummet people just don't know what to do. Individuals that cannot afford their payment are going to the bank with idea that a loan modification might be the answer they need.

Celebrity Bankruptcy: Famous Bankrupts Through History

Many people who file for bankruptcy feel alone, like they're the only person who's ever been there. Many feel like they will have been a failure if they file for bankruptcy. However many people who file for bankruptcy go onto great things.

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