Bankruptcy & consumer credit : Law & Legal & Attorney
A short sale is a compromise between a lender and a borrower over a mortgage that is not being paid off. Instead of using a foreclosure, the lender agrees to let the borrower sell the house on the open market and use the proceeds to cover the mortgage debt. The lender is deeply involved in this proc
Wisconsin provides an additional bankruptcy option.Wisconsin state contour against blurred USA flag image by Stasys Eidiejus from Fotolia.comBankruptcy laws were authorized by Article I, Section 8 of the U.S. Constitution; therefore, consumer and commercial bankruptcy filings are handled...
Individual debtors may file for Chapter 13 bankruptcy, also known as the wage-earner's plan. In a Chapter 13 bankruptcy case, the debtor must have a regular income when filing, because to receive a discharge in such a case, the debtor must complete a debt repayment plan. Depending on the debtor's
The Canada Small Business Financing Act, which was enacted in 1999, increases loans for the establishment, expansion, modernization and general improvement of Canadian small business. Through the act, banks and lending companies are given incentives to make financing available to small businesses.
Sometimes, debts can become overwhelming.If you are new to the concept of credit, or have just let your bills get out of hand, then you may find yourself facing a frightening financial situation that only worsens as the days pass.Fortunately, however, there is a method you can use to escape your mon
In the recent times, bankruptcy has emerged as a major financial issue. With the economic condition not being in a very good shape, many people are finding themselves caught up in debt traps. While bankruptcy isn't an ideal solution for such financial woes, it can definitely put an end to const
New Jersey Chapter 13 debtors must propose repayment plans.payment image by Valentin Mosichev from Fotolia.comWhether a debtor has elected to file for Chapter 13 bankruptcy over Chapter 7, or had to settle for Chapter 13 following a denial of a Chapter 7 filing because of his income, the...
If your home is in danger of being foreclosed upon, as a homeowner,you can be in one of the most stressful periods of your life.
For some Texans, Texas and bankruptcy are two words that make so much sense. The state supports the federal law that allows citizens to file for insolvency. These two words are indeed reprieve for som
A company could file for Chapter 7 or Chapter 11 bankruptcybankruptcy 2 image by Sorin Alb from Fotolia.comIf you have set up your business as a limited liability company, the law makes a distinction between your personal property and the assets of the company. Creditors of the company...
Declaring bankruptcy is a huge decision to make, made more difficult by the prospect of hiring an attorney for fees you cannot afford. Some lawyers work pro bono, but they often are so backlogged with cases that their wait time can be up to a year. Bankruptcy law can be complex, but if your situatio
Learn how, with the help of qualified and experienced legal representation, the process of declaring bankruptcy can become a less daunting task.
Bankruptcy can help people erase massive amounts of debt and get a new start on life. Unfortunately, doing so comes at a cost, including a black mark on your credit. However, it is not difficult to take advantage of the fresh start that bankruptcy affords. Consumers can use various strategies to put
Bankruptcies are a growing concern for many homeowners and businessmen in our lagging economy. Many people are losing homes and livelihoods and finding themselves on the verge of being nearly penniless. People who are facing a bankruptcy and the onslaught of court appearances and paperwork that bank
After you are successfully sued, you may need to file bankruptcy if you cannot pay the debt. Successful lawsuits can lead to garnishment of your wages. Whether you were sued for a consumer debt such as a credit card or a personal matter, filing bankruptcy will automatically stop the person who sued
The United States Supreme Court affirmed a lower court ruling that discharged Francisco J. Espinosa's student loans in bankruptcy. The ruling was initially haled as a victory for borrowers an