Bankruptcy : Business & Finance
The primary purpose of bankruptcy court is to discharge certain debts to give a debtor a fresh start. A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. Discharge prohibits the creditors from taking any form of collection action against debtors o
When bill collectors start calling you, they may use all kinds of threats to get you to pay your bill. In many cases, collectors will threaten to seize your assets to repay the debt. While they may not always truly have the intent of taking your assets, they may have the right to do so.
The credit relief tips provided by the numerous financial firms help you out to settle out the credit in a legalized way. This procedure will give you great help to overcome debt which have engraved your life in severe troubles.
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A chapter 7 bankruptcy discharge releases you from personal liability for discharged debts and stops the creditors from contacting you or threatening you, or taking any action against you in an effort to collect those debts. The US bankruptcy court estimates that almost 99% of all chapter 7 bankrupt
Debt can lead to garnishment of wages, loan defaults, higher interest rates and poor credit scores. In general, debt is something you want to avoid, although certain types of debt are unavoidable. People fall into debt for myriad reasons, from job loss to overspending.
One escape route in the foreclosure process is Chapter 13 bankruptcy. Many homeowners seek Chapter 13 bankruptcy because it allows them to keep their homes. However, the process is not cut and dry. Whether your bankruptcy can stop the foreclosure of your home depends on when you file and your financ
Repossession agents work to recover personal property that its owners are no longer paying for. Most notably, repossession agents are known for taking back possession of cars when their owners fail to pay the monthly bill. Repo agents do not work for themselves, however. They must align with a state
Consolidating debt involves taking out one loan with the intent to pay off multiple debts. People consolidate debts for two distinct reasons: either to lower their monthly payment or to lower their long-term interest payments. When you consolidate to lower your payments, you usually end up paying ba
A Colorado debtor contemplating bankruptcy should consider the advantages of filing for Chapter 13 bankruptcy. If a debtor's house is in danger of being foreclosed, the debtor can save his house from foreclosure. If the debtor's car could be repossessed at any moment, the debtor can save his car fro
Creditors who violate the Fair Debt Collection Practices Act may be sued by the debtor in state or federal court. If the debtor wins a judgment against the creditor, the debtor's rights to seek collateral and enforce the judgment are governed by the state in which the creditor's business is register
Among the loads of unsecured debts that the citizens are compelled to undergo, medical debts stand a higher rank. Obviously each individual has to get service from a medical service provider at any stage of life.
The federal government's Department of Education provides approximately $100 billion dollars per year in student loans and grants to people pursuing a college education. If you plan to major in education, you may want to take advantage of the government's TEACH grant. Once you earn your teaching deg
Are you considering filing chapter 13 bankruptcy?Do you know what you will be getting yourself into?There are many options that you choose from instead of chapter 13 bankruptcy.Here is what you can do instead of filing for bankruptcy.
If your HOA is trying to force a foreclosure on your condo or townhouse due to unpaid association fees, then it may be likely that they have a lien on the property. This may have been the result of some type of confession of judgment if you ever fell behind or due to the association suing you in civ
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The recession has sent most Americans looking for debt relief. Most of the people have just heard grandpa stories regarding the great depression. But now they are getting an actual taste of what it is like to be in an economic downturn.
There is hardly a person who ever considers bankruptcy to be something positive in life. Have you ever considered the question whether bankruptcy can ever be something positive for you? Instead of asking others, you should ask the same question to yourself.