 Category :: Bankruptcy Articles |
Author :: Chris Simons  |
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| Article Title :: Proven Alternatives To Filing Bankruptcy |
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| Bankruptcy can be devastating both economically and emotionally. Extensive damage to your credit and long-term economic issues from bankruptcy will cause many problems in the years to come and it is far better to explore other alternatives before making the decision to file for personal bankruptcy.Some of the alternatives to bankruptcy include: Renegotiate secured loans, Debt consolidation, Debt deferment, Renegotiation of unsecured loans, Interest debt reduction, Professional debt negotiation, and working with Debt Reduction Attorneys.Renegotiate secured loansBankruptcy does not get rid of all your debt. Secured loans are generally for items such as cars and/or your (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: What You Need To Know About Bankruptcy Before You File |
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| Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested by creditors in an effort to recoup a portion of what they are owed; however, in the majority of cases, bankruptcy is initiated by the bankrupt individual or organization.The purposes of bankruptcy are: (1) to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has the means available for payment.The word bankruptcy comes from the ancient Latin bancus (a bench or table), and ruptus (broken). Bank (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: What You Need To Know About Bankruptcy Attorneys Before You Hire One |
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| The function of good bankruptcy attorneys is to guide potential bankruptcy applicants through bankruptcy procedures and to act on their behalf in court. With the new amendments, good bankruptcy attorneys will also inform their clients about why certain legal loopholes no longer exist.It is best to seek services of a bankruptcy lawyer if you are facing any difficulty in declaring bankruptcy and starting over again. Bankruptcy proceedings have to be initiated and proceeded in adherence to all relating legal laws and requirements. A bankruptcy attorney is best qualified to explain the finer details of bankruptcy issues to make concepts and procedures clear and simple. Such attorneys h (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: What You Need To Know About Getting A Loan After Bankruptcy |
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| After filing bankruptcy getting approved for a loan can be quite a challenge. Bankruptcy personal loan lenders usually want to see that you have spent a minimum of two years after your bankruptcy in improving your credit status rather than borrowing more money. However, there is still a chance for you to have a bankruptcy personal loan within a year of your declaring bankruptcy. You might be surprised to know that some people have managed to get a bankruptcy personal loan even one day after a bankruptcy discharge. There are a few things you must do if you want to rebuild your credit history and get approved for a bankruptcy personal loan.First and foremost try to pay on time on the (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: How To file Bankruptcy And Ensure You Get The Legal Protection You Need |
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| Bankruptcy can be a hard pill to swallow, especially if you consider yourself to be responsible. The credit card companies don't care about making things easier for you, no matter how loyal you have been. Here's what to expect when you file bankruptcy, and how to make it as painless as possible.Under the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA"), prior to filing a bankruptcy case, an individual must obtain some consumer credit counseling from an entity approved by the U.S. Trustee within 180 days of the date of the filing of a bankruptcy case.Consider the two common bankruptcy types. The most popular is the chapter 7 (which is a straight or liquidati (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: Is Filing For Bankruptcy Right for You Under the New Bankruptcy Law? |
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| Now that the new bankruptcy law is in effect, the landscape has changed for those who are considering bankruptcy as an avenue to reduce or eliminate the burden of a bad financial situation. All debtors will have to get credit counseling before they can file a bankruptcy case—and additional counseling on budgeting and debt management before their debts can be wiped out. Some filers with higher incomes won't be allowed to use Chapter 7, but will instead have to repay at least some of their debt under Chapter 13. And, because the law imposes new requirements on lawyers, it will be tougher to find an attorney to represent you in a bankruptcy case.Here are some of the changes:C (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Chris Simons |
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| Article Title :: How To Avoid Bankruptcy And Save Your Credit |
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| If you think that filing for bankruptcy will solve all your debt problems, you are being misled. Bankruptcy filing can come to haunt you for years and that is why this decision should be taken after careful analysis and deliberation. Plus, you should do your research to explore other bankruptcy alternatives, like debt consolidation, loan deferment, grace periods, etc., as a way to avoid filing bankruptcy.No one ever wants to file for bankruptcy, because your credit history is ruined for possibly up to 10 years. That means that you may not be able to apply for credit, rent apartments, secure jobs, order utilities, etc.Bankruptcy does not mean that your debt will be wiped out (read full article) |
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| Category :: Bankruptcy Articles |
Author :: John Pico |
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| Article Title :: Automobile Dealerships - Out of Trust - Tips for Lenders |
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| Out of trust positions do not cure themselves and regardless of past cordiality’s, any situation involving a bad loan could always result in litigation. Accordingly, a lender should immediately begin to position itself in a light most favorable for litigation by always conducting itself in a business like manner. The phrase "business like" means in a straight forward, professional manner.The lender should decide upon a tentative course of action and then have a meeting with the dealer to discuss the problem and possible solutions. The dealer should be immediately made aware that the lender recognizes the problem, although perhaps not the cause, and that while the parties have a (read full article) |
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| Category :: Bankruptcy Articles |
Author :: John Pico |
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| Article Title :: Automobile Dealerships - Creating a Workout Plan |
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| The Ground RulesThe basic ground rules for any workout plan are "good faith and fair dealing." These rules apply to both the lender and the dealer. This concept of good faith and fair dealing has its origins in the common law of many states, has been reiterated in the Uniform Commercial Code, the Restatement (Second) of Contracts and case law.Uniform Commercial Code, Section 1-203:"Every contract or duty within this Act imposes an obligation of good faith in its performance or enforcement." Restatement (Second) of Contracts, Section 205, Comment d."A complete catalogue of the types of bad faith is impossible, but the following types are among those which have (read full article) |
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| Category :: Bankruptcy Articles |
Author :: John Pico |
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| Article Title :: Automobile Dealerships - Out of Trust - Keepers |
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| The Necessity of a KeeperWhen a lender feels its security is in jeopardy, it frequently places a keeper in the dealership. This action is usually precipitated by the lender losing its "comfort level" with the dealer.While many dealers interpret the placing of a keeper in their dealership as a hostile action on the part of the lender, their reaction is based more upon emotion than logic. The lending officer works for a corporation and the corporation is owned by shareholders. The officer has a duty to the company and to the shareholders to protect their security."The act of (a lender) in placing its representatives at the plant of its debtor reflected only the n (read full article) |
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