 Category :: Bankruptcy Articles |
Author :: Todd Going  |
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| Article Title :: Bankruptcy and Your Credit |
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| Bankruptcy and credit are directly linked to one another. Credit is how many people run into trouble with their finances, and ironically how they remedy their financial problems at the same time. Credit availability and the encompassing pressure to maintain a good credit ranking will often allow lenders to form prejudices. Many times this can make be the difference between receiving, or being denied, a large loan.When someone goes bankrupt several things take place. By filing for bankruptcy you acknowledge that you are not able to pay your debts and must be relieved from having to pay off your unsecured debts. Unfortunately, this relief from debt comes at a price. Declaring y (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Matthew Keegan |
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| Article Title :: The Flip Side of the New Bankruptcy Law |
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| Congress passed and the president signed legislation earlier this year that made filing for personal bankruptcy a much more difficult proposition. At the urging of the financial industry – particularly credit card providers and banks – the new legislation was drafted and approved setting the stage for stricter requirements governing personal bankruptcy. There is a flip side to the new law, one that is actually hurting creditors more than they ever expected; please chuckle with me as you learn just what that other side is.When President Bush signed legislation making personal bankruptcy a more difficult proposition, credit card providers and banks hailed it as a significant move (read full article) |
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| Category :: Bankruptcy Articles |
Author :: James Duggan |
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| Article Title :: Credit Card Debt: Repair After Bankruptcy |
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| Ah, credit card debt. You've asked yourself the question many
times, "Will I ever get credit again?" The answer, although
seemingly complex, is quite simple: Yes. You can have another
chance at re-establishing your credit. Filing bankruptcy is the first
intelligent step taken to wiping out accrued credit card debt. The
next step you'll have to take is to repair your credit report. In
order to do this, you'll need to develop great patience while you're
re-establishing your credit, as these things do take time.Two or three years after you've eliminated credit card debt by
filing bankruptcy, you'll want to start rebuilding good credit.
How, you ask? Apply for secured credit cards (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Martin Lukac |
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| Article Title :: New Bankruptcy Laws |
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| George Bush's Bankruptcy Abuse Prevention and Consumer Protection Act is going to make it much harder for everyday folks like you and me to file for Chapter 7 bankruptcy. Chapter 7 bankruptcy is the most common type of bankruptcy that there is. This is the type that allows you to write off your debt while keeping your car and your primary residence.With the new laws you will instead have to file for Chapter 13 bankruptcy, which is a whole different process. With Chapter 13 you will have to pay back most of your debts, the only change they have made to this law is that instead of 3 years you will now have 5 years to get back on track. There is a formula that will determine just how (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Martin Lukac |
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| Article Title :: How Bankruptcy Affects Student Loans |
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| The vast majority of government student loans cannot be gotten rid of easily, even filing for bankruptcy will not resolve these debts. The only way that these types of loans can be taken care of in bankruptcy is if you can prove that they are a substantial hardship on you and your finances and this is a pretty hard ting to do in most cases, especially since the rest of your debts will be taken care of with the bankruptcy filing.If you do wish to try to get your student loans discharged you will have to prove that there is no way you will be able to pay this debt according to the schedule that has been laid out, that even in time you will still not be able to pay it according to the (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Martin Lukac |
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| Article Title :: What is Bankruptcy? |
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| Bankruptcy is the last place a person in serious debt can turn. This is where you end up when you have exhausted all of your other options when trying to pay off the debts that you owe. When you file for bankruptcy your debts will be dissolved by splitting up your assets among those owed. Which creditors get what is not up to you, it is up to a trustee and they make these important decisions by priority of the debts. Whether you are in individual filing for bankruptcy or if you are a business filing you may or may not get to keep your home or business, much of this depends on the state that you live in and the type of bankruptcy that you choose to file for. If you file for bankruptcy your (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Essmeier |
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| Article Title :: Bankruptcy and Debt - New Law May Hurt Katrina Victims |
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| The world remains horrified at the tremendous destruction caused throughout the Gulf Coast recently by Hurricane Katrina. An unknown number of people are dead and thousands more are homeless, jobless and completely destitute. It may be months before the city of New Orleans is inhabitable again, and in the meantime, most residents of the city will have little or no income. This is a problem, as most people will continue to have payments due for credit cards, auto loans and mortgages. A number of people will probably be forced to file for bankruptcy as their debts continue to pile up with no income to offset them. Unfortunately for them, recently passed legislation may make it difficul (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Bankruptcy Help - The Effects of Filing and Alternatives to Review First |
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| Filing for Bankruptcy, regardless of whether chapter 7 or chapter 13 may have long lasting negative effects on your credit history for up to 10 years. These negative marks against your credit history may make it difficult to apply for future credit, secure jobs that require a positive credit profile, rent an apartment, purchase a vehicle, etc.
The cost of filing bankruptcy can add up over the course of years. Banks or other lenders will most likely charge higher interest rates and fees should they choose to lend money. Bankruptcy is deemed as a high credit risk and therefore to compensate for the risk lenders charge higher interest rates and/or fees.
Bankruptcy can have a severe negative (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Kavar Peter |
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| Article Title :: Bankruptcy as a Debt Management Solution: Why Do so Many of Us Have so Much Debt? |
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| In 2004, 1,562,174 Americans sought protection from creditors through bankruptcy court – a per capita rate over ten times higher than during the worst years of the Great Depression! According to the Consumer Federation of America, in 2003 alone over 9 million consumers made initial calls with a credit counseling agency and in 2004 close to 2 million consumers were actually enrolled in varying types of assistance plans. These numbers clearly indicate that personal debt in the United States is higher than it has ever been and financial stress is very much a reality for millions of Americans, across all segments of society.But how did this come to be? The economy has been relative (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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