Bankruptcy is a contentious word for a whole number of reasons. Firstly it relates to a situation whereby a Debtor not being able to satisfy or compound to his Creditors a suitable amount has to turn to the Courts for protection and at the end of the day everyone loses out. No one is a Winner here.
Filing personal bankruptcy can be a solution for reducing your debts. However, like all financial decisions, this is not something that can be done on a whim. You need to understand that there will be both benefits and repercussions when you file for bankruptcy.
Bankruptcy courts can help immensely in dealing with foreclosure by issuing an automatic stay that becomes active the moment you file for bankruptcy.
According to Bankrate.com, the average household debt in the United States is $14,500, as of 2011. If you are simply making the minimum payment on your credit cards, it can take years to pay off those debts. Spending $1,000 on a credit card takes an average of 22 years to pay off. If you have an exc
Casino dealers are a type of gaming worker who finds employment in legalized casinos operating table games like craps, blackjack and roulette. In addition to understanding the rules of the game, these dealers must also monitor guests for signs of cheating. The salary of a casino dealer will depend o
One of the most difficult financial decisions a person may have to make in their life is to decide to file for personal bankruptcy. With such a big decision, you should be sure to know ...
Many individuals are struggling with debt crisis and have thought about filing for bankruptcy.Mostly people suffer for years in debt when they could have obtained relief sooner if they just took the time to find out what bankruptcy was really all about.
No one plans to be sick. Unfortunately, until the much anticipated health care reform bill passes in Congress, millions of Americans will continue to face mounting medical bills. Now is the time to plan some innovative ways to reduce anticipated hospital bill debt with some fundraisers. Check out so
Bankruptcy and debt settlement are the two most popular debt relief methods of the time. Even though the both methods are presented to be popular there are apparent differences between them. Bankruptcy is not a recommended method when compared with debt settlement. Debt settlement has more merits th
Sometime there are times in life when you might have to think about filing bankruptcy. Don't make these mistakes and do what I did.
Pro-bono, short for "pro bono publico," is a Latin phrase meaning "for the public good." Professionals who provide their services to others without charge typically refer to this as pro bono work. Like other volunteers, pro bono workers have the right to take some additional tax deductions on the wo
If a debtor has problems paying his bills, his creditors will probably begin to get more aggressive as they try to collect the money owed to them. When a creditor feels there is no other way to collect the money, it may resort to a lawsuit to make the debtor pay. As a result, many debtors end up see
Bankruptcy is the process by which individuals or organizations with unmanageable debt attempt to adjust or discharge their debts through court intervention. Before you file, you should seriously consider attempting to negotiate with creditors.
Bankruptcy is just as disastrous for a business and its owners as it is for an individual. The failure of a business saps morale, creates anxiety about the future and damages professional reputations. There are many factors that cause a company to declare bankruptcy, but the steps that occur during
In 2009, there were more than 1.4 million bankruptcy filings in the United States. Most personal bankruptcies are Chapter 7 filings. But with scores of people facing foreclosure, more individuals are filing Chapter 13, because it allows them to keep their homes. Here are some of the important facts
A country's national debt is the sum total of its annual deficits and surpluses over time. A deficit occurs when a country's governmental income over the course of one year is less than its expenditures. Deficits are added to the total national debt. Deficits are normally measured in relation to a c
The "Presumption of Abuse" in Chapter 7 and how to overcome it
People with unsecured debts are trying to cover up their debts as soon as possible as their interest rates are growing higher and getting out of control. These people are looking for an effective system to reduce the amount of debt.
Because of its specific nature, the chapter 13 bankruptcy is also known as Wage Earner Plan. As per this type of bankruptcy, the debtors are provided an opportunity to reorganize their finances and put their business on the path of profit making. They are also provided with a repayment plan and they