Is It Safe to Settle Your Debt Collection Lawsuit?

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Comparing the Cost of Repaying Mortgage Arrears in Chapter 13 Bankruptcy Versus a Loan Modification

Before modifying a mortgage loan, homeowners should weigh the true cost of refinancing their mortgage and consider curing mortgage arrears in a Chapter 13 bankruptcy case instead. In some instances filing Chapter 13 bankruptcy may be a better alternative to a loan modification.

How Can Filing Chapter 13 Bankruptcy Improve Your Financial Situation?

There are several reasons why debtors file Chapter 13 bankruptcy. The first reason is to benefit from the automatic stay. The automatic stay is what prevents creditors from collecting debt from people in bankruptcy.

Face Authorities Confidently With Bankruptcy Counseling

Filing Bankruptcy becomes necessary for a person or business when they are not able to fulfill their payment commitments with present income. It is usually the last resort. Individuals who are deep in loans find themselves cornered when put under pressure by their creditors for repayment.

Questions To Ask When Filing Bankruptcy

Preparing yourself before filing is the best way to ensure you get the most out of your case. In general, there are three main questions you should ask a bankruptcy attorney before filing the petition.

Can You Go Bankrupt Twice?

Filing for bankruptcy may leave you feeling discouraged about your financial future, but it's important to know that you don't have to wear the status as a badge of shame for the rest of your life. Indeed, people turn to bankruptcy options for a number of reasons - a health situation in the family may have drained finances, or an unforeseen accident could have run up your debt and prevented you from paying bills in a timely manner. Once your case is approved and completed, though, it could take 7-10 years for it to disappear from your records, giving you a chance to start fresh. Question is, if you have difficulty again can you file a second time?

What Is Exempt From Bankruptcy?

This article outlines the property you get to keep when you file for Chapter 7 bankruptcy in California. Your nonexempt property becomes part of your bankruptcy estate. Bankruptcy trustee can sell it to pay off your creditors when you file for Chapter 7 bankruptcy.

Pors and Cons of Filing Bankruptcy

Filing for bankruptcy is one of the toughest decisions that you will ever make in your life. It is not the right option for everyone, and it should only be done after every possible debt reduction measure that you have taken has failed.

Knowing If Bankruptcy Is Right For You

The bankruptcy process is one that takes much time and consideration. No one should rush into the decision to file for bankruptcy, because filing isn't right for everyone.

A Quick Look At The Bankruptcy Process

Although many people will need bankruptcy protection in their lifetime it is estimated that less than one in four Americans actually understands how the process works. Even those who never need the help it can provide, understanding the basics behind the process can be very important.

Eligibility for Chapter 7 Bankruptcy

You can file for Chapter 7 bankruptcy unless the following conditions exist. 1) you make more money than the median income in your state; or 2) you've previously received bankruptcy discharge/case dismissal; or 3) you haven't participated in mandatory credit counseling; or 4) engaged in fraudulent activities.

Filing Chapter 7 - How to File Chapter 7 Bankruptcy and Keep Your House

First of all, you should: 1) Make sure that whoever is trying to foreclose on your home actually owns the mortgage. Because of the creative ways mortgage securities have been packaged recently, the lender may have a hard time proving that it has the right to foreclose. 2) See if your home equity exceeds the California homestead exemption amounts. If it seems that the above does not help you, filing for Chapter 7 bankruptcy might not be the best strategy for you.

Mistakes In Chapter 7 Cases

The bankruptcy process is not meant to be inherently difficult, but there are several rules and guidelines that must be followed in order for a case to be successful. Debtors should be adequately prepared coming into the process and be aware of certain actions that could influence the outcome of their case.

The Facts Behind Bankruptcy Myths

When people hear the word bankruptcy they often picture the worst. The thought of losing assets and damaged credit drives many people in need away from the benefits bankruptcy has to offer them. The truth is much of what is said about bankruptcy is either not true, or exaggerated.

Differences Between Debt Settlement Vs Bankruptcy

Spending money before it is earned is common in today's world. One of the reasons contributing to this factor is the existence of economic conditions that are typically identified with factors such as recessionary and inflationary trends.

Taxes and Bankruptcy

Taxes can be a tricky subject and many people simply ignore them most of the year and only pay attention come tax time. Although no one sets out to owe the IRS money, it does happen to many people. While most people assume tax debts are not dischargeable in bankruptcy, the fact is that some are eligible for bankruptcy help.

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