Tag Archives: Bankruptcy

Bankruptcy Management – Chapter 7 or Chapter 13?

September 03, 2010   Alexander Stewart   No comments

In the face of overwhelming debts and rising costs, individuals sometimes find that best option may be to file for bankruptcy. Although it sounds to many like the end of the world, the bankruptcy laws in the U.S. allow many individuals and families to file and then move on with their lives.There are two basic types of bankruptcy filing for individuals: Chapter 7 and Chapter 13. The latter is more inclusive; almost anyone can file for Chapter 13 bankruptcy, provided that they owe no more than $360,475 in unsecured debts and $1,081,400 in secured debts. Chapter 7 filers, on the other hand, are “means-tested” and have to undergo a counseling session with a credit counselor. Read the full post

  Tags: Bankruptcy, Bankruptcy Management

Consumers paying more to file for bankruptcy

August 29, 2010   Daniel Murphy   No comments
Bankruptcy fees have increased since changes to bankruptcy legislation took place in 2005

Most Americans who file for bankruptcy protection do so as a last resort because they do not have the funds to meet their financial obligations. Ironically, those seeking this form of debt relief will see the cost of filing increase, as evidenced by a new study.

The American Bankruptcy Institute Law Review has released information revealing that the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has made filing a more tedious and expensive process. Read the full post

  Tags: Bankruptcy

Financial Vulnerability: Bankruptcy Pitfalls to Avoid

April 22, 2010   Daniel Murphy   No comments

When your financial crisis has come to a head and your only option is bankruptcy, you’re at a pretty vulnerable point. There will be alluring ideas waiting on you, as well as some less than respectable people waiting to take advantage of the state you are in. This does not mean you should steer clear of filing bankruptcy if it is going to make your life a lot better, nor does it mean you should avoid businesses and services who are there to help you. You simply need to be aware and be on the lookout for things that could lead to further financial trouble and to avoid things that could easily lead to your being taken advantage of.

Credit Counselors

Credit counseling is a wise idea if you find yourself in a bad way financially. F

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  Tags: Bankruptcy, Vulnerability Bankruptcy

Repair Credit – Questions and Answers

November 24, 2008   admin   No comments

You would be hard pressed to turn on the television, or visit a news website, without hearing about how you can repair your credit. In today’s troubling financial times there are many people who are having trouble maintaining their credit score.

They find themselves falling farther behind in payments and before long there is significant damage that can no longer be ignored. Credit repair is vital in order to regain a credit score that is high enough that lenders will allow you to borrow money for a car, a new business or even a home.

It is important to know how credit repair works. This article may not answer all of your financial needs when it comes to credit repair but it can answer some.

What is credit repair?

Everyone has a credit score. Read the full post

  Tags: Bankruptcy, Credit Repair Service, Repair Credit