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December 22, 2010
If you are considering filing chapter 13 bankruptcy it is crucial to take time to become educated about the process. Obtaining debt help through personal bankruptcy is not an easy or inexpensive process. The majority of people who use this strategy to reduce financial burdens often find it causes more harm than good.
Filing chapter 13 bankruptcy requires debtors to retain the services of a bankruptcy lawyer. This can be expensive because new bankruptcy laws require lawyers to certify that all financial information provided is truthful and accurate.
December 17, 2010
Filing Chapter 13 bankruptcy is an important decision. While it is true debtors can obtain debt relief through personal bankruptcy, the process is costly and often leads to additional financial stress.
Filing Chapter 13 bankruptcy is a complex process which requires debtors to hire a bankruptcy lawyer to ensure compliance with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
October 07, 2009
Debt problems are affecting more Americans today than ever before. The financial crisis of Wall Street left many people with worthless financial portfolios, while the unemployment crisis has drained many saving accounts. Add in wasteful spending habits and you have a recipe for financial disaster.
Many options exist to eliminate debt problems, but it takes patience and commitment to get out of debt. Individuals with mounting debts must take a hard look at spending habits to determine where their money is being spent.
June 03, 2009
Individuals wanting to obtain a mortgage after bankruptcy need to get their financial affairs in orders long before applying for a loan. Obtaining credit is considerably more difficult today than it was just a year ago. The banking industry meltdown caused lenders to tighten regulations. Individuals with excellent credit find it challenging to obtain mortgage loans. Those with poor credit don't stand a chance.
In order to qualify for a mortgage after bankruptcy, borrowers must establish a history of paying their bills on time. Housing costs are usually the largest expense people have. Financial experts suggest leasing a home with a monthly payment equivalent to a mortgage payment. Paying rent on time each month helps debtor's establish a track record.
May 28, 2009
In order to file bankruptcy debtors must follow established protocol set forth in the U.S. Bankruptcy Code. In 2005, Congress enacted new bankruptcy laws, making it much more difficult to file. Few people can undergo the process alone and will require the services of an attorney.
When people file bankruptcy they must undergo the 'means' test; a financial tool that determines how much debt must be repaid. The Bankruptcy Abuse Prevention and Consumer Protection Act require debtors must repay a portion of debts unless they earn less than their states' median income level.
May 16, 2009
Bankruptcy confirmation hearings are required when debtors file for protection under chapter 13. Also known as 'reorganization', this bankruptcy chapter requires debtors to submit a repayment plan to the judge. The confirmation hearing is required to determine if the repayment plan adheres to regulations set forth in the United States Bankruptcy Code.
The bankruptcy confirmation typically occurs within 45 days after the 341 creditors meeting. This meeting allows creditors to question the debtor regarding their ability to repay outstanding debts. Information is provided under oath. If the debtor provides falsified information they could potentially face jail time and are certain to have their bankruptcy request denied.
April 14, 2009
Type investment clubs San Diego into any search engine, and you'll get thousands of results. Real estate investment clubs are growing in popularity around the country, with San Diego being no exception. Properties in San Diego, with its mild weather, sandy beaches and beautiful Spanish style architectural homes, are in high demand.
Investment clubs San Diego welcomes innovative clubs to their ranks. In 2007 Eco investment clubs San Diego became the corporate headquarters to an investment club with the mission of supporting the environment by urging investors to create and use sustainable businesses, educating investors on environmentally safe business practices and networking with other eco friendly individuals. Eco investment clubs San Diego allows investors to go green while making green.
April 04, 2009
Business bankruptcy filings are occurring at an unprecedented rate. Last year, bankruptcy courts reported a whopping 50-percent increase in filings over the previous year. Bloomberg.com, a worldwide provider of financial information, reports more than 18,000 businesses filed for bankruptcy protection during the first four months of 2008 alone. Unfortunately, the outlook is even gloomier for 2009.
Filing business bankruptcy requires the assistance of a qualified bankruptcy attorney. The new bankruptcy laws enacted in 2005 have made filing both personal and business bankruptcy nearly impossible. Known as the Bankruptcy Abuse Prevention and Consumer Protection Act, BAPCPA places numerous restrictions on financial constraints on business owners.
March 27, 2009
We buy ugly houses is the registered trademark of HomeVestors of America; a nationwide franchise based in Dallas, Texas. HomeVestors has been involved in recycling houses for nearly 40 years, making them one of the most recognizable house buying organizations in the U.S.
Most people are familiar with the "We Buy Ugly Houses" billboards and yard signs. The bright red and yellow signs with gigantic letters claiming to buy unsightly homes bring hope to distressed homeowners who need to sell their house fast or face foreclosure.
March 13, 2009
The term, 'fail out of bankruptcy' refers to the debtor's inability to adhere to their bankruptcy repayment plan. Personal bankruptcy includes Chapter 7 and Chapter 13. With Chapter 7, outstanding debts are discharged, while Chapter 13 allows debtors to reorganize their debt and repay it over an extended period of time.
One missed payment can cause a debtor to fail out of bankruptcy. When this occurs, creditors are allowed to petition the bankruptcy court and request dismissal. In most cases, the judge will allow the debtor to explain why they missed their payments. However, if the bankruptcy is dismissed creditors can commence with collection proceedings