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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 20, 2008
Bankruptcy Attorneys
Bankruptcy attorneys specialize in helping individuals and business owners obtain relief from debt. The new bankruptcy laws implemented in 2005 caused many bankruptcy attorneys to turn to new areas of law. Reason being the Bankruptcy Abuse Prevention and Consumer Protection Act has made filing bankruptcy so difficult many attorneys opted out of the profession.
Bankruptcy attorneys who continued in the field are now charging considerably higher fees. BAPCPA requires considerable documentation, administration of the 'means' test to determine clients' eligibility, and strict deadlines to adhere to. The process is complex, time-consuming and requires considerably more man-hours.
Real Estate Investing article on "Bankruptcy Attorneys "
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 "
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 15, 2008
Bankruptcy Alternative
Every bankruptcy alternative should be explored before filing personal or business bankruptcy. Filing any bankruptcy chapter will have long-lasting and detrimental effects on your credit. In most cases, bankruptcy will remain on your credit report for up to a decade. Ten years is a long time to be punished for financial mishaps.
To determine which type of bankruptcy alternative is best suited for your needs, you will need to conduct a bit of research. Several alternatives to bankruptcy exist including debt consolidation, debt settlement, credit counseling and budgeting.
Real Estate Investing article on "Bankruptcy Alternative"
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.
Real Estate Investing article on "Divorce Lawyer "
August 31, 2008
Advance Inheritance
Advance inheritance can be obtained by heirs and beneficiaries against estates held in probate. When a person dies, all of their assets are transferred to probate where a judge must assess the inventory and ensure it is divided according to the decedent's Last Will and Testament. If a person dies without a Will (intestate), the judge will distribute inheritance property according to state laws.
Advance inheritance is not a loan and does not have to be paid back by the person who borrows funds. Instead, advance cash lenders are reimbursed for the full amount when the estate is settled. For this reason, beneficiaries cannot receive the full amount of inheritance monies due to them. Typically, lenders cap the inheritance advance at 70- to 85-percent of the amount due to the beneficiary.