Bankruptcy

Is Your Credit In Need Of Repair? Here" s Some Advice

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Negative credit gets you negative reactions from many companies that you may wish to deal with in your future. Having poor credit like this can affect what you do, along with your future, unfortunately. However, you can take steps towards credit repair, in which case, more doors will open, instead o

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RESPA in Chapter 13 Bankruptcy Cases

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RESPA, Real Estate Settlement Procedures Act, has specific provisions which deal with mortgage servicing and generally found in either 12 U.S.C. 2605 or 2609. O. Max Gardner III explains in his article, What Does RESPA Have to do with Consumer Bankruptcy Cases?, that the use of RESPA in a chapter

Debt Settlement Prior to Filing Bankruptcy

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Once you start missing payments to your creditors, chances are, after attempting to collect from you, your creditors will sell or transfer your debt to third party collection agency. The objective of these collection agencies is to try to get some sort of payment from you. Most of these agencies try

Potential Problems In Filing Chapter 7 Bankruptcy

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Any person filing for Chapter 7 bankruptcy targets to have all debts to be discharged if possible. In general, the rule says that financial obligations are wiped out if they were created before a person has filed for Chapter 7. All debts are eradicated, and debt collectors can no longer collect from

Family Financial Advice

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Family finances have become a regular topic of discussion in many circles since the economic recession of 2008. The enormous increase in layoffs, foreclosures and bankruptcies resulting from the recession brought even greater attention to the fact that Americans had been living far beyond their mean

Is Declaring Bankruptcy An Ideal Option For Debt Relief?

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Easy availability of loans in the recent times has given rise to a trend of indiscriminate borrowing. Consequently, those who borrow beyond their means end in a debt trap. Even though various debt relief options are available, in certain cases declaring bankruptcy may be the only way out.

Bankruptcy - Pros And Cons Of Filing

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I have been receiving more and more questions on bankruptcy filing in the last couple of months, that is when the idea of doing an article on the basic advantages and disadvantages of going bankrupt came to my mind. I intend this article to become an easy guide for anyone who has ever wondered wheth

Should I Use My 401(k) to Pay Off Debt?

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Many people in tough economic times get pressured by collection agents to pay off their debts with their 401(k) or similar retirement vehicles. While the funds can be used for this, should they?

Can You Save Your Home by Filing for Chapter 13?

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Filing for a Chapter 13 bankruptcy can help you keep your house when you can't pay your mortgage. Unlike a Chapter 7 bankruptcy, which eliminates your debts, Chapter 13 requires you to repay your creditors as much as you can before your debts are purged. Chapter 13 will not eliminate any of your mor

What Are Bankruptcy Claim Forms?

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When it comes to starting over again in terms of your finances, personal bankruptcy may be one of the only remaining options. Although there are certainly other ways to repair your financial mishaps, bankruptcy is often cited as a quick way to stop the harassing calls from creditors, and it may be t

How to Modify a Chapter 13 Bankruptcy Plan in Michigan

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In the state of Michigan, a debtor must follow certain procedures when filing for Chapter 13 bankruptcy. Chapter 13 bankruptcy entails the debtor's proposing a repayment plan to the bankruptcy court. The plan will detail the way in which the debtor will repay his debts over the next three to five ye

Can You Keep Your Recreational Vehicle With Chapter 7?

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One of the hardest things about filing bankruptcy is the fact that you might have to give up some of your possessions. If you own a recreational vehicle outright, you might not be able to protect it from the Chapter 7 trustee; if you're paying on a recreational vehicle, the court might let you keep

How to Calculate Household Debt

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Effective debt management is a key element of a household's financial well-being. Household debt is the total amount a household owes to creditors. Some debt, such as a mortgage or student loan, is almost unavoidable and can actually be beneficial financially. Other debt, such as credit card and oth

The Many Causes of Bankruptcy

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There are any number of financial crises that could lead a family to the edge of bankruptcy.It may be an unexpected medical expense that was not covered by health insurance, or it may be the result of a failed business in which the family invested personal funds and lost a lifetime of savings.

Filing Bankruptcy Should Not Be Considered A Mark Of Shame

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Many people wonder if they should consider filing bankruptcy. In years past bankruptcy used to be viewed as a sign of failure that would be carried with the individual for years to come on their credit report. However, filing bankruptcy was ideally designed for people who are overwhelmed by financia

Bankruptcy and Its Alternatives

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There is no doubt whatsoever that, however the idea may be sold to some people, going bankrupt is something that terrifies most of us. There are ways that you can hold off a bankruptcy, although there has to be some debate over whether they are all preferable alternatives. In some cases, they may ev

Is Chapter 11 Bankruptcy For You

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If your business is having trouble and you need to file for bankruptcy your lawyer will most likely suggest a chapter 11. A chapter 11 begins with you filing a petition with the court. You will also have to state a reorganization plan for the business in order to settle your affairs.