Debt Collectors Spying on Your Social Media?

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What Happens When You File Bankruptcy - Are You Doomed?

Knowing from personal experience when someone is contemplating whether to file bankruptcy or not the perception of I will not be able to get any credit forever, these goes the thoughts of every buying a house. And of course there is the option of Chapter 7 or Chapter 13.

Discharging Loans In Bankruptcy

When it comes to having certain debts discharged in bankruptcy, many people assume that all loans are handled the same. In fact, the opposite is quite true. There are big differences between types of loans and how they are managed in bankruptcy. Even certain types of loans are not handled the same depending on who the lender is, which is why getting to know how bankruptcy is applied to loans can be very beneficial.

Absolutely Critical Pre-Bankruptcy Planning

There are critical matters that you must know and address before filing bankruptcy. For example, when filing a bankruptcy it is like ringing a bell, once the bell is rung you cannot un-ring it. Once you file a bankruptcy, your bankruptcy estate has been created and you cannot change it. So, it is of paramount importance that you review your assets and the available exemptions prior to filing your bankruptcy. By so doing, you can marshal your assets to minimize the items taken by the trustee.

The Foreclosure Process And Bankruptcy

One option for keeping the house and resolving mortgage debts is to file for bankruptcy. Many people fear the word "bankruptcy", which prevents them from ever seeking the benefits it has to offer. In fact, one of the biggest reasons people decide to file for bankruptcy is to prevent a foreclosure.

How and Why to Avoid Bankruptcy

Bankruptcy was put into place by the US government for a reason. While many people are afraid of the implications that come with filing for bankruptcy, the fact remains that it has helped countless people over the years to be able to settle their debts and move on with their lives. However, bankruptcy is not the right choice for everyone, and there are many reasons to avoid it if at all possible.

Why Some People Are Hesitant To File Bankruptcy

Considering the difficult economic climate these days, people from all walks of life are contemplating bankruptcy as a viable option. The most common forms of bankruptcy that most people consider are Chapter 7 and Chapter 13. In a nutshell, a Chapter 7 is where the debtor can discharge all unsecured debts like credit cards, payday or personal loans, and medical bills.

Will I Lose My Personal Assets in a Business Bankruptcy?

Business bankruptcy, generally filed as Chapter 11, encompasses many circumstances that will determine the vulnerability of your personal assets in a business bankruptcy case. Rely on a full service business counsel to determine which assets are at risk, and why.

Differences Between Chapter 7 and Chapter 13

When it comes to filing bankruptcy, no two cases are the same. This is mostly because no two people are experiencing the same financial situation, which means that they also may not experience the same risks or benefits associated with a particular type of bankruptcy.

Is It True That Chapter 7 Bankruptcy Is Better Than Chapter 13?

Filing for Chapter 7 bankruptcy when unsecured debt becomes overwhelming, is often the only feasible option. When an individual is paying the minimum on large credit card balances it will take years to reduce the principal. If that person either loses their job, or accrues huge medical bills, the situation becomes insurmountable. The debtor is left with two choices; filing for bankruptcy under Chapter 7 or Chapter 13. Which option is best?

Protecting Your Credit In Debt

One wouldn't think that it is possible to protect your credit when significantly in debt, but there actually are ways to minimize the damage. However, to understand how to protect your credit when in debt, you must first understand how your credit gets damaged.

Bankruptcy Process: What Does It Mean, How Do I File, and What Happens After I File Bankruptcy?

Bankruptcy is a legal process that helps a person struggling to pay their bills. It may allow you to keep your home out of foreclosure, stop any lawsuits or judgments, or simply give you enough time to catch your breath. This article explores the process, what to expect from an attorney or lawyer, and lays out what exactly you can expect in the process.

How Filing For Bankruptcy Affects Your Credit

If you have no other option but to file for bankruptcy, you will certainly need to make some lifestyle changes. For some people, consolidation loans provide a good solution, and you need to use bankruptcy only as the last resort. If you are unable to pay anything back to any of your creditors, you will be able to write off the whole of the debt, but this relief will come with a price. Apart from social problems, potentially losing your assets, bank account and job, filing for bankruptcy will affect your credit rating for a long time. Find out more about these effects below.

Bankruptcy Procedure in Canada

Every year, many Canadians find themselves with such an overwhelming amount of debt, and thus the need to file for bankruptcy. Bankruptcy is a legal process that provides debt relief for those who can no longer pay their creditors, allowing them to immerse with a fresh start.

Important Steps Before Bankruptcy

One of the most important time frames in the bankruptcy process is the time between the decision to file and actually filing the paperwork. Why? Because this is the time that you have to make several important steps, which can maximize your chances of a successful case. In fact, there are several very important steps that should be completed long before you even sign the bankruptcy petition.

Why Is The Number Of Americans Filing Bankruptcy Decreasing?

Recently, the U.S. Bankruptcy Court released the number of those filing bankruptcy in 2011 so far. The surprise was that it has dropped. The unemployment numbers nationwide are over 9.2% and some states like California are seeing unemployment numbers of over 12%. So you would think with unemployment being so high that the numbers of those filing bankruptcy would be high also. This is becoming a topic for debate by economists and even on blogs nationwide.

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