Bankruptcy : Business & Finance
An IVA will show your creditors that you are taking control of your debt and intend to pay it back. You will agree to legally binding terms stating how and when the payments will be made and for how much.
When your financial situation turns to quicksand, bankruptcy may be the only option. Filing for bankruptcy may turn into its own version of quicksand, however, if you continue your spiral into financial free fall. If you need to file for bankruptcy more than once, the effects will linger on your cre
The other day a prospective client came to my office for a free bankruptcy consultation. Her case wasn't terribly complicated. Her most pressing concern was that she didn't want to lose her car. She was ...
When you are facing a tough time with your debts and have hit the worst spot on financial situation, you can opt for an IVA. This can be a good alternative to bankruptcy. Herein, the borrower need not opt for bankruptcy if the debts are mounting. IVA provides complete help from financial problems.
To best define unsecured debt, consider the opposite -- secured debt. A secured debt is a loan guaranteed with an asset or collateral. The lender places a lien against your asset, giving him the right to take it if you don't pay the debt. Unsecured debt is a loan given without the benefit of collate
Bankruptcy assets One of the biggest questions people often have regarding bankruptcy is what will happen to their assets. Sometimes a family can be reluctant to declare bankruptcy because of this fear, even though all ...
Consumers often finance large purchases, such as a vehicle, with a loan if the cash isn't available to purchase the item. A loan is based upon a contractual agreement, and as such, the borrower must repay it. It's a good idea to understand what happens to that loan if the property is repossessed.
For those overwhelmed by mounting debt and the inability to pay for it, meeting with a bankruptcy lawyer can be a lifeline and build a foundation for a fresh start. The reason meeting with an ...
You can't watch the news on TV without hearing the word bankruptcy mentioned. When most people hear the word bankruptcy, they think of chapter 7. Chapter 7 is what individuals prefer to file because it's quick and it wipes out all the unsecured debt, making the individual virtually debt-fr
If you have too much debt and feel like there is no way out, the last thing you want to do is file for bankruptcy. A bankruptcy can stay on your credit report for up to 10 years and this can make it hard to get a loan for a new car or a home. In many cases we can not avoid filing for bankruptcy when
Filing business bankruptcy is a complex process. The new bankruptcy laws enacted in 2005 have placed restrictions on business owners seeking debt relief. The Bankruptcy Abuse Prevention and Consumer Protection laws require debtors to reorganize and repay a portion of their debts whenever possible.
One of the most recommended but least desirable options to save a home from foreclosure is filing bankruptcy. It seems like a solid legal defense against eviction and a way to get more time to work out another solution, but few homeowners really want to damage their credit for nearly a decade just f
Let's discuss what happens to your car in a chapter 13 bankruptcy. If you have recently filed chapter 13 and are asking yourself, "What happens to my car?" then this article is for you. Discover what your options are when filing a chapter 13 bankruptcy.
Financially struggling Californians have the legal right to file bankruptcy, but usually must pay for this option. California residents who economically qualify can file Chapter 7 to liquidate most debts or partially repay bills under Chapter 13. Family farmers can keep assets while restructuring de
If you are considering Chapter 7 bankruptcy you need to read this now! If you are in a touch financial situation, you may be considering Chapter 7 Bankruptcy. Before you move forward, consider several alternatives first. If your financial pressures are due to Credit Card or other debt, consider debt
Bankruptcy claim is one of the legal ways of obtaining relief from constant visits and calls from creditors such as private lenders, banks and other financial institutions. Individuals and companies file for bankruptcy when they find themselves mired in a financial mess. While it does put an end to
The protected trust deed is really a means in Scotland whereby you are able to avoid bankruptcy by arranging to pay for your debts over a particular time period. It is much like an IVA ...