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Bankruptcy : Business & Finance
Can a Tax Refund Be Garnished if a Debt Is Discharged Through Bankruptcy?
If you owe debt to a creditor, he may obtain a judgment, which is a court order that allows him to garnish income you receive. However, once the court discharges a debt in bankruptcy, the creditor loses his right to take legal action against you and he can no longer take possession of your assets.
How To Deal With Bankruptcy - You Need To Know The Laws And How This Will Affect You For Years
Personal bankruptcy must be the last resort you take if you are in insolvency. The reason for this is that it takes years to work its way off of your credit report and new changes in laws have made it far more difficult to escape paying your debts. This means that you're able to have a bankrupt
Dischargeable Debts in Bankruptcy
It is important to understand which types of debts can be discharged through bankruptcy. All debts cannot be discharged. Understanding the basics of dischargeable debts will help you be more prepared.
Do I Include Escrow in Chapter 7 Bankruptcy?
Escrows are used in a variety of commercial and property transactions in order to facilitate an efficient transfer of property. An escrow is characterized as a transaction where a third-party neutral allows deposit of property. The escrow agent then distributes the property to certain persons accord
Do Courts Require a Class Prior to Bankruptcy Filing?
In 2005, new bankruptcy reform laws were passed that affect how people file both Chapter 7 and Chapter 13 cases. A Chapter 7 proceeding is a request for legal forgiveness of most consumer debts, while Chapter 13 permits struggling debtors to restructure their obligations and pay them back under cour
Choose the Right Bankruptcy Lawyer and Debt Collector to Liquidate Your Assets
It is known that a good credit score is required to make large investments, purchase a home or property, take out significant loans, and participate in many other financial endeavors. In the same way, a bad credit score has the potential to prevent a person from taking part in any of these achieveme
About Creditors and Bankruptcy
If you have received notification that a debtor filed for bankruptcy, that debtor has probably given your contact information to the bankruptcy court informing the court that he owes you money. Even if the debtor has informed the bankruptcy court that he owes you money, that is no guarantee that you
Can My House Be Taken Away in Chapter 7?
When a debtor has fallen behind on his mortgage payments or if his house is deemed a nonexempt asset, it is possible to lose the property in a Chapter 7 bankruptcy. A debtor who wants to keep his house when he files for bankruptcy should consult with an experienced bankruptcy attorney. The bankruptc
Introducing Birth Bonds to Help Overcome Bankruptcy at Birth
Ever heard of "birth bonds"? It's a new idea about how to provide additional financial security for a new baby and younger children. It is meant to assure they have a legacy to use later in their lives. It would not add to the budget deficit and may actually help alleviate some concer
Pros and Cons of Chapter 7 Bankruptcy
You're in debt. You have considered all of the options: debt settlement, debt management, debt relief, debt negotiation, etc. However, either none have worked or many don't fit your particular situation. So, where do you ...
A Guide To Personal Bankruptcy
Even though, filing personal bankruptcy is a rare thing to occur, it is not a unique thing. If you are planning for filing such a thing, you will have to clearly understand its meaning and ...
Is Bankruptcy Right For Me?
With many Americans facing tough financial decisions declaring bankruptcy may be the best option. There are many variables that need to be considered before filing for bankruptcy.
Bankruptcy Court And What To Expect
Many people wonder what they can expect in bankruptcy court. The first thing that occurs is the meeting with a bankruptcy trustee. The meeting could take place in the trustee's office or a room in the courthouse. After this first meeting, you will receive a notice about the first meeting with t
Credit Repair & Debt Help
Getting help with your debt problems and repairing your credit rating requires a full re-evaluation of your lifestyle and financial behavior. If you currently have or have had debt problems in your past, this can be a challenging process. Create a financial plan, communicate with your creditors and
How to File Bankruptcy - Your Bankruptcy Questions Answered
If you are reading this is because you are in financial trouble and you need help fast to get your credit card debt and other types of debt under control. In recent years, the number of bankruptcy filings has doubled due to the state of our economy. Millions of hard working Americans have been laid
Definition of Debt Pushdown
“Debt pushdown” is a financial term, referring to an accepted accounting method which shifts debt from a parent company’s accounts to those of a subsidiary company. It is normally used when one company acquires another.
Time Required to Foreclose
Foreclosure time lines vary from state to state, yet all follow the same basic procedures. Proceedings for foreclosures are overseen by their respective state and will range from as few as 40 days to as many as 180.
Is a Cell Phone Considered a Secured Debt If the Contract Is Already Up?
A 2009 Synovate survey of 8,000 cell phone users found that 42 percent of Americans can't live without their cell phones. For these respondents, dealing with a cell phone debt that could shut down their service plan is likely of major importance. The cell phone company will likely either pursue the
After Hard Times A Bankruptcy Car Loan Can Be Your Best Ally
After hard times, a bankruptcy car loan can be your best ally. The quickest way to rebuild your credit score is by committing to an auto loan and making the payments in a responsible way. ...
Chapter 7 Bankruptcy Documents
Bankruptcy process starts when you have filed your bankruptcy papers in the bankruptcy court. But even before that, the preparation of your papers and documents are also as crucial as the bankruptcy process itself.