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November 05, 2008
Bankrupcy
Bankrupcy filings are occurring at unprecedented rates. With the ever-growing credit crisis and increased unemployment, many Americans are facing challenging financial times. For many people, bankrupcy is the only alternative to save their home from foreclosure.
There are numerous reasons people file bankrupcy. At the top of the list is subprime lending and lack of adequate health insurance. Chronic illness and mounting medical bills can quickly cause a person to go bankrupt. Other causes of bankruptcy include loss of employment, death of a spouse and living outside your means.
Real Estate Investing article on "Bankrupcy"
October 28, 2008
New Bankruptcy Laws
New bankruptcy laws enacted by Congress in 2005 have changed the way consumers, businesses, corporations and farmers obtain protection from creditors. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) includes provisions which require debtors to engage in credit counseling and undergo the process of the 'means' test.
Under the new bankruptcy laws, filing for bankruptcy has become considerably more complex and costly. BAPCPA was enacted to prevent consumers from racking up large amounts of debts, than filing bankruptcy to avoid repayment. However, the strict provisions have made it difficult for individuals who require debt relief caused by mounting medical bills and inflated mortgage payments.
Real Estate Investing article on "New Bankruptcy Laws "
October 25, 2008
Realistate
Realistate can consist of houses, vacant land, commercial buildings, warehouses, retail shops, apartments, condominiums, motels, hotels and shopping malls. Just as there are numerous types of realistate, there are as many types of investors.
Although realistate is currently on a downhill slope, it doesn't mean investors should stop investing. In fact, investors who purchase real estate with cash can make a fortune in the long run. Regardless of how bad the economy gets, history has proven real estate to be a smart investment. However, as with any type of investment, realistate investing is not without risk.
Real Estate Investing article on "Realistate"
October 18, 2008
Chapter 11
Chapter 11 bankruptcy is typically reserved for corporations and partnerships and allows for reorganization of company debts. Individuals with high levels of debts are also allowed to file for Chapter 11 protection. However, the majority of personal bankruptcy cases are filed under Chapter 13; particularly when debtors desire to retain assets and repay outstanding debts.
Oftentimes, when a business files for Chapter 11 bankruptcy protection, company assets are sold to compensate vendors. Depending on the circumstances, a bankruptcy judge or court Trustee will dictate which assets are sold and which ones can be retained in order for the company to continue functioning. It is generally in everyone's best interest to allow the company to retain assets which allow the company to generate revenue and protect employee jobs throughout the bankruptcy process
Real Estate Investing article on "Chapter 11 "
October 12, 2008
How to File Bankruptcy
Are you confused about how to file bankruptcy? You aren't alone. The new bankruptcy laws enacted in 2005 have created a tremendous amount of confusion and complexity. The Bankruptcy Abuse Prevention and Consumer Protection Act implemented strict rules and regulations, making it difficult to file personal or business bankruptcy. BAPCPA stipulates all debtors must engage in credit counseling prior to petitioning the court for bankruptcy protection.
Understanding the intricacies of how to file bankruptcy generally requires the services of a qualified bankruptcy attorney. While hiring a lawyer is not required by law, few people possess the fortitude to undergo the bankruptcy process on their own. The complexities of BAPCPA could place debtors who file without legal representation at risk for having their petition rejected
Real Estate Investing article on "How to File Bankruptcy "
October 09, 2008
Pay Off Credit Cards
There are good reasons to pay off credit cards. First and foremost, by paying outstanding balances in full each month, you will be able to retain your credit status. In today's tumultuous economy, credit is going to be much harder to obtain. Consumers who pay the minimum amount will likely see their credit line diminish. Others may have their account closed altogether.
Another good reason to pay off credit cards is to eliminate monthly payments and high interest rates. Experts state that Americans carry an average of $20,000 in credit card debts. By paying only the minimum due, consumers could pay interest for as long as 20 years. Is that morning latte and fast food lunch really worth being in debt for two decades?
Real Estate Investing article on "Pay Off Credit Cards "
October 03, 2008
Chapter 11 Bankruptcy
Chapter 11 Bankruptcy is oftentimes referred to as "reorganization" bankruptcy. Although Chapter 11 is available to individuals and businesses, it is typically reserved for those with high levels of debt. Two prime examples of large corporations seeking Chapter 11 bankruptcy protection include American International Group (AIG) and Lehman Brothers Holdings, Inc.
Chapter 11 bankruptcy provides debtors the opportunity to retain assets through the structure of a repayment plan. Once individuals and business entities receive Chapter 11 bankruptcy protection their finances are supervised by the court.
Real Estate Investing article on "Chapter 11 Bankruptcy"
September 28, 2008
Filing Bankruptcy
Filing bankruptcy is an important decision that has far-reaching effects. Although personal bankruptcy can help consumers get back on track financially, other debt elimination plans should be attempted when possible. Bankruptcy alternatives include debt consolidation, debt settlement, credit counseling and budgeting.
When filing bankruptcy is the only option, it is important to understand the pros and cons of this action. When debtors petition the bankruptcy court, an "automatic stay" is put into place. The stay prevents creditors from moving forward with debt collection and will temporarily stop foreclosure. However, when people file bankruptcy to prevent losing their home, they must continue making mortgage payments until their repayment plan is approved by the court.
Real Estate Investing article on "Filing Bankruptcy "
September 22, 2008
Bankruptcy
For many Americans, bankruptcy is the only alternative they have to save their financial assets and personal belongings. While most people view bankruptcy as financial failure, nothing could be further from the truth.
Bankruptcy can be traced back to the Old Testament of the Bible. According to Moses Laws, every 50 years all debts are eliminated. Additionally, the Hebrew law of Forgiveness instructs a release of debt every seven years. Unfortunately, this belief has not carried over to Americans and millions of people are facing foreclosure, loss of valuable assets and complete financial ruin
Real Estate Investing article on "Bankruptcy"
September 02, 2008
Divorce Lawyer
Few people want to hire a divorce lawyer, but with one of every two marriages ending in divorce, chances are you might need one. While the decision to file divorce is painful, lack of appropriate legal counsel can leave divorcees in dire straits.
Retaining the services of a good divorce lawyer is a necessary part of the process. While there are plenty of law firms and attorneys who specialize in divorce and family law, it is important to choose one with experience in your type of divorce.
