 Category :: Bankruptcy Articles |
Author :: Billy Baxter  |
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| Article Title :: Bankrupt Celebrities |
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| Hiding behind all the glitz and glamour and what may seem like unusual celebreties are those who get bankrupt fairly frequently, though it's also the case that they come through it quite often as well.This could quite well be the reason behind Clarissa Dickson Wright being bankrupt not once but thrice! It was said that the first time was due to the champagne bill at her mother’s funeral!
The list of bankrupt celebreties is extensive and consists of celebreties from all walks of life from senators to TV stars to football players and movie stars. Often the reason for these bankruptcies is that money is aquired quickly and when the checks come in, it doesn’t seem like they will e (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Michael Curry |
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| Article Title :: How to Avoid Bankruptcy and Clear Your Debts |
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| In 2005, over 20,000 people in the UK avoided bankruptcy and succeeded in clearing their debts. This article discusses how they were able to do so and why the 15,389 people who filed for bankruptcy at the beginning of this year should have checked out the alternatives first.In 1986, the government introduced a scheme called an Individual Voluntary Arrangement, or IVA for short. IVAs were designed to give people a legitimate alternative to bankruptcy.The government understood that although bankruptcy had numerous disadvantages attached to it, for many debtors it seemed to be the only option. It therefore set up IVAs to give people a way to both avoid bankruptcy and clear the (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Michael Curry |
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| Article Title :: Avoid Bankruptcy, Set Up an IVA |
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| Although declaring yourself bankrupt is a way of resolving your debt issues, it should be avoided if at all possible.Bankruptcy has many disadvantages and penalties and as a result it should not be entered into lightly. Aside from the obvious stigmas and disqualifications, it can affect your ability to obtain any sort of credit for a number of years, even after you have been discharged.In 2004, the bankruptcy laws in the UK changed in a way that made it easier for people to file for bankruptcy. They did this by reducing the discharge period from three years to one year.As a result of this and other factors, bankruptcy rates have been growing at an alarming rate over r (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Patsy Rose |
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| Article Title :: Credit Repair after Bankruptcy |
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| Declaring bankruptcy will not repair or improve your credit score. According to legal experts, credit repair after bankruptcy is possible. Some companies will offer credit immediately after bankruptcy, at very high interest rates, but buying a home or a car may not be possible for several years. Unless a bankruptcy credit repair expert can help. There are a certain number of law firms that specialize in credit repair, for any reason, credit repair after bankruptcy is just one of many.Bankruptcy is a last resort for those people who are swimming in debt and cannot pay their bills. Bankruptcy credit repair is an option for those people who have declared bankruptcy and would like (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Max Bellamy |
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| Article Title :: Second Mortgage Loans After Bankruptcy |
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| The purpose of bankruptcy is to give the debtor a new start in his life by repaying creditors in a systematic way. Thus, bankruptcy does not prevent anybody from taking a loan. Today, the lending rules are becoming much more relaxed, and you should not worry that you have lost your dream to buy a home or acquire a property even after you have gone bankrupt.A second mortgage after bankruptcy requires at least two years waiting on part of the borrower. He should also pay all the bills on time during this period and save for the down payment amount, if possible. One fact that you have to keep in mind is that you may not qualify for the best interest rates, but your determined efforts (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Essmeier |
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| Article Title :: Credit Counseling Clients Hurt by New Bankruptcy Requirements |
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| The Bankruptcy Abuse and Consumer Protection Act was passed in early 2005 with the overwhelming support of the President, both houses of Congress and the major credit card companies. The law, which created sweeping changes in American bankruptcy law, was passed in order to reduce the possibility that consumers with heavy debts might avoid choose to avoid paying them by seeking debt relief through the courts. The Act has many provisions, but the one that may hurt consumers the most was the one provision that was intended to help – the requirement that debtors undergo mandatory credit counseling before filing for bankruptcy.On the surface, the requirement seems to be laudable. F (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Mary Wise |
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| Article Title :: Are Student Loans Dischargeable When You Fill for Bankruptcy? |
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| Student debt and “undue hardship”If you are buried deep in debt but your debt is mainly student debt you may want to reconsider bankruptcy since almost all
student loans are non-dischargeable. The law is clear when it comes to student loan debt: Unless repayment causes the debtor
undue hardship, courts won’t allow discharge of student debt.
The above is applicable to Chapter 7 Bankruptcy and Chapter 13 Bankruptcy too. So in order to be able to get discharged from
student debt you’ll need to meet the “undue hardship” requirement.
This concept implies an excessive poorness caused by the debt that would affect the ability of the debtor of paying for basic
needs (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Carrie Reeder |
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| Article Title :: Repairing Credit After Bankruptcy - The Best After-Bankruptcy Credit Cards |
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| Your bankruptcy is finalized, and now you’re ready to start rebuilding your credit. The best way to do this is by applying for small amounts of credit first, so you’ll want to get a credit card; however, you don’t know what credit card to choose. This article will explain the best after-bankruptcy credit cards you can get in order to rebuild your credit and stay out of debt:Secured Credit CardsThe best way to avoid bad debt is to gain credit from your own money. A secured credit card allows you to deposit money into an account and then withdraw it just like you would with a regular credit card. The difference between an unsecured credit card and a secured credit (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Carrie Reeder |
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| Article Title :: Rebuilding Credit After Bankruptcy - 3 Things To Watch Out For |
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| Now that you’ve erased all of your bad credit, you’ll want to start rebuilding your credit. To your amazement, flyers keep coming in the mail offering you credit cards, car loans, even mortgages. As tempting as it may be to jump right back into debt, you’re better off starting small and choosing your lenders wisely. Predatory lenders will attempt to prey on your previous misfortunes. Before you attempt to start rebuilding your credit, read this article, and learn what you need to watch out for in order to keep your credit in good standing:Credit Cards with Outrageous TermsIf you thought that you’d never get approved for another credit card again, you might jum (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Carrie Reeder |
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| Article Title :: Rebuilding Credit after Bankruptcy - 3 Things to Know |
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| Now that you’ve filed bankruptcy and gotten rid of all of your debts, you want begin rebuilding your credit. Regardless of your reasons for filing bankruptcy -- doctor bills, divorce, job loss, or even just carelessness -- the best way to prove to lenders that you don’t want to end up in the same situation again is to build new, good credit. This article discusses three things you need to know about rebuilding credit after bankruptcy:You Can Get CreditThere’s a myth about bankruptcy that makes people think that, after they file bankruptcy, they won’t be able to get approved for any credit loans until that bankruptcy clears in seven years. This is not true. In (read full article) |
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