 Category :: Bankruptcy Articles |
Author :: Nathan Dawson  |
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| Article Title :: Bankruptcy Chapters Explained |
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| Chapter 7The potential chapter 7 debtor should understand that a straight bankruptcy case does not involve the filing of a plan of repayment as in chapter 13, but rather envisions the bankruptcy trustee's gathering and sale of the debtor's nonexempt assets, from which holders of claims (creditors) will receive distributions in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, under chapter 7, the individual debtor is permitted to retain certain "exempt" property. The debtor's remaining assets are liquidated by a trustee. Accordingly, pote (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Phil Andrews |
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| Article Title :: Bankruptcy - The New Scarlet Letter |
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| Nathaniel Hawthorne’s book The Scarlet Letter states in Chapter 2, “On the breast of her gown, in fine red cloth, surrounded with an elaborate embroidery and fantastic flourishes of gold thread, appeared the letter A.” The letter A stood for the word adulterer and represented one of the worst insults in society. One would have thought that today we are a lot more civilized than 200 years ago, but unfortunately it is not true. Society has abolished the letter A alright, but it has latched onto a new one, the letter B, which stands for bankruptcy. People do not see it on their chest and think it does not affect them, but it does. Bankruptcy is (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Essmeier |
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| Article Title :: New Bankruptcy Law – Five Essential Things to Know |
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| Last April, Congress passed the Bankruptcy Abuse and Consumer Protection Act, the most sweeping reform of our nation’s bankruptcy laws in more than twenty-five years. Proponents of the bill argue that most consumers who file for bankruptcy do so simply because they do not wish to pay their bills. That is an arguable point, as studies show that most bankruptcy filers have suffered illness, injury or job loss. Regardless of the reasons, Congress has made the changes, and millions of Americans will be affected when the new law takes effect on October 15.Here is a short list of the changes and how consumers will be affected.Goodbye, Chapter 7 – Until now, most consume (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Gerry Oginski |
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| Article Title :: Bankruptcy - In New York, Can I Bring a Lawsuit for my Injuries and Keep all the Proceeds? |
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| Q: If I recently declared bankruptcy, can I bring a lawsuit for my injuries and then keep all the proceeds? My injuries have nothing to do with my bankrupcty, right?A: Wrong. When you declare bankruptcy, you are required by law to list all your assets with the Court. If you even suspect that you might have a potential lawsuit (malpractice or personal injury case) you must list that as a potential asset. If you inadvertantly neglect to put this potential asset on your list, and you go to an attorney (and don't tell him about your bankruptcy) who then starts your lawsuit, the defense has an absolute right to get a Court order to dismiss your case. (They will definitely learn about yo (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Phelan |
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| Article Title :: The New Bankruptcy Law -- How Will It Affect Debt Negotiation? |
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| In April 2005, Congress made sweeping changes in U.S. bankruptcy law that will go into effect on October 17, 2005. It's called the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," and it means big trouble for Americans struggling with debt problems.What effect will the new bankruptcy law have on the practice of Debt Settlement (also called Debt Negotiation)? Will creditors still be willing to negotiate with consumers seeking to avoid bankruptcy? Will lump-sum settlements for 30%, 40%, 50% still be possible now that this tough new law has been passed?The short answer is "YES." It will be "business as usual" in the collection industry. People that choose to f (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Justin Koh |
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| Article Title :: Life After Bankruptcy: 7 Tips To Get Your Life On Track After Bankruptcy |
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| A life in bankruptcy is not an unbearable phase if you look at it from a positive angle. If you found it unbearable, I'm sure you won't want to go through it again. While the court 'reorganizes' you by selling your personal assets to pay off your debts, so too you must reorganize your thoughts and look forward to live a life of prudence.Here are 7 tips you can apply to get your life back on track as soon as possible so that you can find a way to return to a lifestyle of less financial worries and gradually break free from the shackles of an unpleasant past.1) Seek sincere help. In modern societies where urbanites get too busy in their own lives, it is not surprising to have (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Bankruptcy 101 |
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| Bankruptcy still remains a mystery in the eyes of many consumers. This article will review the facts of bankruptcy as per written law.Some of the information in this article refers to a manual called “Bankruptcy Basics” published by the Administrative Office of the United States Courts and written by Leonidas Ralph Mecham, Director.What, When and How Does a Debtor Discharge His or Her Debts through Bankruptcy –A discharge of an individual’s debt is a release of an individual’s liability from certain specified types of debt. The discharge is a permanent order to the individual’s creditors that they refrain from taking legal, collection, written or verbal co (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Bankruptcy – Bankruptcy Myths |
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| Bankruptcy has long been a big question mark in the eyes of the consumer. After all they don’t teach us about bankruptcy in school. More often than not, a person’s view of bankruptcy is largely developed by either their parents or close relatives personal views or dealings with bankruptcy, or a persons view is based on what they see as far as ads etc. regarding bankruptcy. Too often these ads are simply put together by bankruptcy attorneys that want your business. Bankruptcy is big business. With 1,597,462 personal bankruptcy filings being made during the calendar year in 2004 you can see that there is a lot of money to be made by bankruptcy attorneys. While not all bankruptcy attorne (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Bankruptcy - Is It The Right Choice For You? |
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| Bankruptcy is one of the tougher choices we as adults face in today’s society where it is the norm to be in debt, albeit some more so than others. Credit card offers materialize whether you are looking for credit or not. All with their own perks and benefits may sound tempting enough to open and start charging. After all that free toaster oven, or the free airline perks might go a long ways! Or on the second look they might not be so free after you account for the interest rates or the additional card usage charges that some credit card companies place into your annual or monthly charges. We all like the word free, after all there’s not a whole lot better than getting something and no (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Terje Ellingsen |
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| Article Title :: The Last Debt Solution Should Be Bankruptcy |
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| A debt solution like bankruptcy should really only be used as a last possible solution. The problem with this solution of debt problems is that it includes a lot more than simply eliminating debt. When someone declares them self bankrupted, all debt collection actions against that person are prevented. The court grants an "automatic stay", which - with a few exceptions means that creditors cannot come after the money owed to them.The most important exception is that when a loan is secured by property creditors can seek relief from the stay and seize that property. The other exceptions are student loan debt, alimony, child support and taxes. The backside for the person who seeks thi (read full article) |
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