 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 :: 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 :: Taffy Wagner |
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| Article Title :: Bankruptcy and The Small Business Owner |
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| October 17th is fast approaching when the new bankruptcy laws take place. What effect will this have on the small business owner? Probably a more major effect than before. My husband and I both own small businesses. In the previous years, we have always had clients that paid on time. This is the first year that we have seen the economy really effect people.Small business owners have to worry about whether their customers are going to pay. How do you know if your customers are going to pay? Whether you are a new small business owner or been around for a couple of years, this is still an issue that comes up. Here are a couple of suggestions that should help with the foundation of you (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Do It Yourself Bankruptcy - Some Things to Know First |
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| Bankruptcy, although necessary for many individuals, should be utilized as a last resort once all other options have been reviewed first. One of the first things that a person can do is review their own spending patterns or habits before seeking help. If acted upon before the problem reaches the point of no return it is conceivable that there may be no need for outside intervention.There are several resources available online that are designed to help an individual create a household budget without any cost. Also most credit counseling agencies should be able to provide you with a household budget at no cost. There are also bankruptcy attorneys that will assist in this as well, how (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Bankruptcy Information - Common Courtroom Terms |
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| Bankruptcy- Bankruptcy Terminology, 45 Terms to Know and UnderstandMany debtors and creditors know little of the bankruptcy process. These terms are to help assist individuals in understanding bankruptcy. The terms provided are as defined from the Public Information Series of the Bankruptcy Judges Division.TERMS & DEFINITIONSAdversary Proceeding –
A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court.Automatic Stay –
An injunction that automatically stops lawsuits, foreclosure, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed. (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Charles Essmeier |
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| Article Title :: Bankruptcy - More Signs That You May Be in Trouble |
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| Bankruptcy attorneys all over the country are reporting that their business is up 25-50% over last year. The reason? New bankruptcy legislation is set to take effect later this month, and the laws are much stricter than in the past. That may be the case, but the fact that tougher laws are coming doesn’t mean that everyone should rush out to declare bankruptcy. Still, many people are undoubtedly wondering if their own situation warrants such a drastic choice.Here are a few things to consider when deciding if you should file:You are writing checks when the money isn’t there – This is something that most everyone has done from time to time. Your bill is due on Tu (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Rick Munster |
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| Article Title :: Filing Bankruptcy - Credit After Bankruptcy |
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| So I’ve filed for bankruptcy, now what?I’ve heard from several people who have files for bankruptcy protection that once they have successfully filed the last thing they want to do is deal with their finances. I recommend that a person places their finances near the top of their priority list once a bankruptcy has been filed.After all the clean fresh start that many attorneys promise isn’t always as easy for many recent bankruptcy filers.I recommend to any individual that even after they file for bankruptcy that they still seek budgeting guidance from a credit counseling organization. This is typically a free service that is developed to help people budget their (read full article) |
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| Category :: Bankruptcy Articles |
Author :: D. Lex |
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| Article Title :: Bankruptcy Credit Counseling Under The New Bankruptcy Law |
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| Bankruptcy credit counseling is a requirement of the new bankruptcy law effective October 17, 2005. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires court approved bankruptcy credit counseling to be completed by debtors prior to filing for bankruptcy within the 180 days immediately preceding the filing of a bankruptcy petition.The new requirement for bankruptcy credit counseling prior to filing for bankruptcy may be completed by internet credit counseling, phone credit counseling, or group or individual credit counseling at specific, court approved bankruptcy credit counseling agencies. Under the new bankruptcy law, the U. S. Trustee's Office is responsi (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Mansi Aggarwal |
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| Article Title :: Bankruptcy Guide |
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| ‘Bankruptcy’ the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt situation can hover over anybody’s life be it a successful business man who has never ever fathomed it or any greenhorn entrepreneur who had thought of going a long way ahead.There are several reasons behind this insolvency-Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Michael Wentworth |
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| Article Title :: Bankruptcy - is This Your only Way Out? |
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| What is bankruptcy, and how does it affect you? The term bankruptcy literally means "broken bench". In days gone by, when a debtor couldn't pay his/her bills, they would break his/her workbench in two as a warning to other tradespeople and to punish the debtor.Today, bankruptcy is a tool that can legally help your business to survive or allow you to discharge the debts of your business.Are your business debts overwhelming you? Are you worried about how you’re going to pay your staff and bills next week? Are you seriously starting to think about bankruptcy as a possible solution to your woes? Well, before you take what is basically an irreversible step, be tot (read full article) |
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