Available Bankruptcy Options
The laws regarding bankruptcy have changed recently, but there are still options available to you if your debt has grown out of control and you have found yourself unable to repay them.
Category : Bankruptcy : Business & Finance
What Rights Do I Have for a House That Is in Her Name During a Divorce?
Among the many issues facing a separating couple is the division of marital property, including real estate. Often, a house appears in the name of only one party to the marriage, either because of pre-marital ownership or a decision of one or both parties to title it just to one spouse during the ma
How to Find Out If Someone Filed Bankruptcy in Illinois
Bankruptcy, although a highly personal matter for some, is not considered private by the judicial system. When an individual or company files for bankruptcy, that bankruptcy petition becomes a matter of public record. A public record of the bankruptcy exists regardless of whether or not the debtor e
Bankruptcy Lender's Agreements
During financial distress, it becomes hard for people to pay their debts. This is the time that one should file a bankruptcy petition. In most cases, there are two chapters under which a person who is facing insolvency can file a petition. These are chapters 7 and 13.
Are Judgments and Liens Erased During Bankruptcy?
Bankruptcy is usually the final step in eliminating debt. Bankruptcy eliminates most forms of unsecured loans and relieves the obligation of the debtor to take responsibility for any deficits remaining from secured debt. Bankruptcy is the chance for many people to get a fresh start, when they use it
What Happens If You Leave a Creditor Off of Bankruptcy?
When you file for bankruptcy, it is necessary to list all of your creditors for the bankruptcy court. For whatever reason, you may have neglected to list a creditor during your bankruptcy proceedings. This is not the end of the world, but it does carry certain consequences. Whether you have already
How To Declare a Personal Insolvency
When personal debt becomes simply too much to handle, some form of insolvency is inevitable. What kinds are there, and how do you enter into them?
Chapter 7 Bankruptcy: Can You File?
Before you plan to file for Chapter 7 bankruptcy, make sure you are eligible. Then make sure it the best move for your situation.
Can the Government Take Your Inheritance When You File for Bankruptcy?
When you file bankruptcy, you grant the bankruptcy court permission to examine your financial affairs and administer your financial assets. While in many cases the court does not sell or take possession of your assets, it does have the right to liquidate some of your assets in certain situations. If
What Happens When the Car Loan Included in a Chapter 13 Filing Is Paid Off by the Insurance Company?
A car loan is one of many debts you can restructure through a Chapter 13 bankruptcy plan; but what if you total your car during your case? If the insurance company pays the car loan in full, the trustee will take the claim out of your case, but your payment to the trustee will remain the same unless
Bankruptcy Counseling Agency Critics
Many people are faced with the question of what will happen to them once they have been declared financially unable to handle their debts. Some wallow in self pity while others tend to live with the guilt of having not been able to handle a financial crisis.
What Bankruptcy Chapter 7 Entails
Bankruptcy chapter 7 is also known as the liquidation chapter. It allows an appointed trustee to take the assets of the debtor, sell them and pay off the debts. The petition is either voluntary or involuntary. Voluntary means that it is out of the debtors willingness that a petition is filled. Invol
Length of Long-Term Alimony in California
Although the issuance of a permanent spousal support award, or alimony, is discretionary, many factors are taken into consideration. The length of a marriage is one key factor, as a long-term marriage can lead to a long-term spousal support award. There are procedures available to modify a spousal s
Importance of Understanding Every Bankruptcy Code
The responsibility of regulating, designing and modification of the code of bankruptcy, as outlined in Constitution under Article 1, Section 8, Clause 4, rests with the United States Congress. Administering the uniform Laws, relating to bankruptcy under Article 1, is given to the Congress. At the Fe
Define Bankrupt
Individuals file for bankruptcy for many reasons. The loss of a job, drastic reduction in income and the development of a severe medical condition seem to be the leading reasons why individuals declare bankruptcy. Many people are ill-informed about the true meaning of bankruptcy, as the term is typi
Rules for Involuntary Chapter 7
Involuntary Chapter 7 bankruptcy is an action taken by multiple creditors where a substantial amount of debt exists against a single person. A forced bankruptcy must be ruled on by a bankruptcy judge and can effectively force a debtor to liquidate his assets to pay off his debts in accordance with b
The Right Way to File For Both Bankruptcy and Divorce
One of the main reasons for the high divorce rate is financial difficulties and differences. While most couples have disagreements about money, for many the problems and the blame for them can get out of ...
Facts About Student Debt
Student loans can open up a world of opportunity, making college a reality for people who could otherwise not afford a postsecondary education. On the other hand, student debt is a serious and long-term responsibility, so before taking on any student debt, it's important to understand how such debt
Top Reasons To File A Chapter 13 Bankruptcy
Filing for Chapter 13 bankruptcy is one of the few alternatives out there for a owner of a house to avoid a property foreclosure without the approval or acceptance of the creditor. The debtor may also be able to cure the overdue home finance loan. This involves a repayment suggestion in which the de
Consider Options Before You File For Personal Bankruptcy
You may think that personal bankruptcy is your only option, but you need to go into it with your eyes open. Bankruptcy may not wipe out your debt depending what kind of debt it is, and even before that, be sure to check other options that do not have the same kind of long-term negative impact that b