 Category :: Bankruptcy Articles |
Author :: Charles Essmeier  |
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| Article Title :: Utah, the Nation's Bankruptcy Capital |
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| Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection Act, designed to minimize frivolous bankruptcy filings and to require debtors to repay some of their debt. Once it takes effect in October, 2005, the law will make it harder for those with problem debt to have their debt wiped away by the courts. Most will have to agree to a five-year repayment plan. In passing this new law, members of Congress suggested that our bankruptcy courts are filled with cases involving not ordinary citizens, but with reckless gamblers, shoppers, and drug abusers. Is that really the case?One would think, given the accusations, that the highest bankruptcy rate in the Untied (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Alli Ross |
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| Article Title :: Bankruptcy Your Best Bet? |
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| Filing bankruptcy is a common practice among the U.S. Over 2 million people file for bankruptcy every year. So many families today are swimming in debt, which is not surprising with the amount of credit that is being offered. If you pay your bills, you're given the opportunity to run up more bills. For young people, this is often too much responsibility to handle. Many people choose bankruptcy in order to gain a fresh start.However, bankruptcy leaves you with a bad record. This makes it harder to buy a house, a car, or any other big-ticket item soon after you have filed for bankruptcy. Mortgage lenders will certainly be more cautious before granting a loan to someone with a history (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Tim Gorman |
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| Article Title :: Bankruptcy vs. Credit Counseling: What Should I Do? |
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| Credit Counseling and bankruptcy are both ways to relieve the stress of debt. However, they are very different and it is important to understand both before making a decision as to which is best for you.Credit counseling is a program designed to help those who are in a state of debt and cannot find a solution to their debt problems. They offer services that will allow you to work with a certified credit counselor to devise a plan that is tailored to your specific needs and goals. Credit counseling agencies often provide services for free and will help to educate you about how to avoid financial problems in the future by offering debt management classes or seminars. They do not (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Essmeier |
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| Article Title :: New Bankruptcy Law – Where’s the Consumer Protection? |
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| On April 20, 2005, President Bush signed into law the Bankruptcy Abuse and Consumer Protection Act, a piece of sweeping legislation that brought about the most sweeping changes in personal bankruptcy law in the last quarter century. This bill, which takes effect in October 2005, passed with the overwhelming support of both parties of congress, claims, through its very name, to offer “consumer protection.” Does it? How are consumers “protected” by this bill?The purpose of the new legislation, is to eliminate “bankruptcy of convenience”. Sponsors of the bill allege that most consumer bankruptcy cases involve irresponsible spenders who have shopped or gambled their mon (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Suzanne Arthur |
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| Article Title :: Bankruptcy Reform: Designed to Protect Big Business |
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| Who will benefit from the new bankruptcy reform laws? The financial services industry and other big business groups, that's who.These groups contributed millions of dollars to elect Bush and other Republican
candidates in 2000 and 2004, with the goal of overhauling the bankruptcy system.
They and other big business groups have continued to spend millions, rage
arguments and lobby persistently for bankruptcy reform. In March 2005, with the
House and Senate loaded top heavy with Republicans, they succeeded.The financial services industry includes the banks, credit unions, the American Bank
Association, credit card companies and retailers.Big business groups pressur (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Noel Hynes |
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| Article Title :: How to Avoid Bankruptcy |
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| Bankruptcy is a legal way to offer folks with high interest debt a fresh financial start in life. In case you are considering personal bankruptcy as an answer to your debt problems, you are not alone. Bankruptcy is on the up and up as consumer debt explodes. Additional reasons for turning to bankruptcy for credit card debt alleviation include medical costs and job loss.The two main types of bankruptcy are Chapter 7 and Chapter 13. Chapter thirteen is generally preferable for most people as it allows the defaulter to hold at least some property. It is imperative to understand that a bankruptcy does not remove all your debts overnight. Alimony, income taxes, child financial support a (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Carrie Reeder |
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| Article Title :: Bankruptcy and Buying a Home |
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| Filing bankruptcy is a stressful time in a person's life. Along with discharging your debts and gaining a fresh start, you may wonder if you will be able to buy a home after a bankruptcy. The answer is yes! Mortgage companies and online lenders are now offering home loans for those who have a bankruptcy on their credit report. Some lenders will even approve your loan as soon as one day after your bankruptcy has been discharged.Buying a home after bankruptcy is no longer impossible. There are many reasons a person chooses to file bankruptcy. The loss of a job, unexpected medical bills, and overwhelming credit card debt are just a few of the factors that can lead to filing bankruptcy (read full article) |
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| Category :: Bankruptcy Articles |
Author :: John Mussi |
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| Article Title :: Guide To Bankruptcy |
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| Here is a useful guide to bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice.Bankruptcy is seen as the last resort. Bankruptcy is perceived to be the only way to escape the ever-constant demands for payment by bill collectors and credit companies alike.Bankruptcy is not something that should be rushed in to. Certainly there are times when it can be very useful, but there are other times when declaring bankruptcy would be a big mistake.The purpose of bankruptcy is to convert your possessions, and any wages you receive, into lump sum and instalment payments for creditors. A debtors purpose to apply fo (read full article) |
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| Category :: Bankruptcy Articles |
Author :: John Mussi |
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| Article Title :: Benefits and Drawbacks of Bankruptcy |
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| Outlined below are some of the benefits and drawbacks of bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice.There is more to bankruptcy than as a way of finally putting an end to harassing debt collectors and creditors. One big side effect of bankruptcy being that your life is likely to be subjected to intense scrutiny.These are some of the benefits of bankruptcy:Relieves the stress caused by dealing with numerous creditors.Once a bankruptcy order is made, a third party takes over the administration, decision making and payment process of the debts.Creditors forced to recognise that th (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Medha Roy |
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| Article Title :: Avoid Bankruptcy |
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| 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 your sleep. Things may go so wrong that being repentant also does not help. What do you do? File bankruptcy. Stop. There are better and realistic ways of fighting debts. Avoid bankruptcy by all (read full article) |
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