Bankruptcy

Where To Get Useful Bankruptcy Alternatives Information?

Though this blog itself can be a good resource for you when it comes to finding bankruptcy alternatives information, if you are looking for information customized to your specific case, you are strongly recommended to work with an expert credit counselor and/or with an experienced bankruptcy attorney. These are the two best people who you can contact for some useful information on how you can avoid bankruptcy. They will review your debt and financial situation thoroughly and then will provide you some practical suggestions accordingly. It is very important for you to keep in mind that bankruptcy does provide protection to debtors in extreme cases, but it must always be used only as a last option. ...Read more>>

The Role Of A Houston Bankruptcy Attorney In Chapter 7 Bankruptcy

If you are living in Houston and are filing your bankruptcy petition under chapter 7, you will need the help and assistance of an experienced Houston bankruptcy attorney. The Texas laws apply in these types of cases, as per which, the majority of your assets will be liquidated under the supervision of a bankruptcy trustee appointed by the court while the money thus received from the sale of the assets will be used to settle your debts on a priority basis as specified by the court. Finally, you will end up having your financial slate clean of debts. However, you must keep in mind a couple of things in this regard. For example, as per Texas laws of bankruptcy, you are provided some property exemptions up to a certain limit. Besides that, there are some specific types of debts that are not discharged even the court declares you as bankrupt. A proper planning and homework is crucial when it comes to filing petition for bankruptcy under chapter 7 of the US bankruptcy court. This is where an expert legal representation from a local, experienced lawyer can prove to be very helpful. ...Read more>>

What Are The Things Included In Bankruptcy Discharge Records?

The bankruptcy discharge records issued by the court include the details about those debt accounts that the debtor has been relieved as part of the bankruptcy protection. The debtor no longer can be held liable to make the repayment on the debts that have thus been discharged. These discharge orders prohibit the creditors associated with those debts from getting involved in any activities to collect those debts from the debtor. If they do, it will be treated as an illegal activity, and the debtor can sue them for this. Though the legal procedures may vary from one jurisdiction to another, the discharge records are often identical. Following is a brief rundown on some of the important things that these records include. ...Read more>>

Bankruptcy Alternative Options That Are Not Likely To Fail

If you spend some time and ponder over it, you will surprise yourself by finding out an array of bankruptcy alternative options that can help you regain control of your debt and financial situation without requiring you to become bankrupt. What usually happens is that people become too frustrated with their mounting debt problems to think of any better solution. They lose all their hopes and start looking out for an easy solution because they think they are no more able to handle the stress. This is how people often end up filing for bankruptcy protection even in cases where they could have saved their financial life by using better alternatives. Following are some of the options that you are strongly recommended to work on before you file your petition. ...Read more>>

Florida Chapter 13 Bankruptcy Rules

Florida chapter 13 bankruptcy rules have also witnessed significant changes after the introduction of the new bankruptcy laws in October 2005. Prior to the Bankruptcy Act 2005, debtors were allowed to make a choice whether they want to file their petition under chapter 7 or chapter 13. But, the Congress realized that many consumers (debtors) have actually started to abuse this convenience of choice. The number of bankruptcy fraud kept on increasing. The new act was implemented to prevent such possible abuses and fraud. As per the new laws, now there is a set of eligibility requirements that a debtor must meet in order to qualify for their petition under chapter 13. Following is a brief rundown on those compulsory requirements. ...Read more>>

Florida Chapter 7 Bankruptcy Rules

As per Florida chapter 7 bankruptcy rules, the state residents who are declared as bankrupt can avail certain sets of exemptions for their assets and properties. However, unlike other states, you do not get an option to replace the state-specified exemptions with the federal set of exemptions. But, you can use the federal supplemental exemptions in addition to the list of exemptions allowed under the Florida laws. When you go bankrupt under this chapter, the majority of your debts are written off and most of your assets and properties are liquidated. A bankruptcy trustee is appointed by the court who looks after the entire process. They collect the money received from the sale of assets and then pay the same to creditors a priority basis as specified in the court judgment. There are three districts in Florida – southern, middle, and northern. There are overall nine bankruptcy courts. These courts and the Congress establish the rules for the procedures and filings associated with a bankruptcy case. ...Read more>>

What Are The Best Alternatives To Bankruptcy?

If you are looking out for the best alternatives to bankruptcy, you will be glad to know that there are a plethora of options available to you. Now, you must be wondering if that is true why you cannot see them. The answer is that you are probably looking at the wrong side. These options are available to those who know where to look out for. The following information should help you with that. ...Read more>>

How To Estimate Bankruptcy Lawyers Fee?

The bankruptcy lawyers fee usually depends on which chapter of the US Bankruptcy Code you are filing your petition under. The entire process also varies accordingly. It is important to note that there is no legal obligation to file bankruptcy under the supervision of an attorney. If you think you can, you have the right to handle your case on your own. You can represent yourself in the court. But, considering the very fact that the court proceedings and other legal aspects associated with these types of cases are usually very complicated, the presence of a lawyer is always necessary. If you are trying to avoid the lawyer’s fee by not hiring them, you will actually be at loss because attorneys do not just handle the legal proceedings on your behalf but they also help you to save your assets and properties from the hungry claws of bankruptcy. Therefore, even though it is legally not mandatory, it is always advisable to have an expert legal representative for your bankruptcy case. Following is a brief rundown on the average cost of a bankruptcy lawyer that you can expect to pay. ...Read more>>

Obtaining Bankruptcy Discharge Papers

When you are declared bankrupt by the court, you usually are provided with bankruptcy discharge papers. But, if because of some reasons, you have not received these papers, there are several ways to get new copies of the same. These papers include the details of all those debts that you no longer owe, which means those debts have been discharged as part of the bankruptcy. You are advised to keep these papers with you, as you may need them in future, such as when a future employer or a lender wants to see them. The process that you have to follow to get new copies of these papers is not a very time consuming one. If you follow it the right way, it should not take too long. Following is a brief rundown on how to go about it. ...Read more>>

What Are Your Options To Pay Bankruptcy Fees?

The reason you are considering filing bankruptcy is probably because you are frustrated with your mounting debt problems and the deteriorating financial situation. But, even getting yourself officially declared as bankrupt is also a highly stressful process. There are a lot of things that you need to work on thoroughly much in advance; how you are going to pay bankruptcy fees is one of them. There are a couple of options available to you in this regard, which you must be well aware of. Though a major part of the fees is basic and must be paid upfront, there are also certain costs that can be waived or at least be negotiated. ...Read more>>


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Bankruptcy Alternatives

Individual Voluntary Arrangement As Bankruptcy Alternative

Individual voluntary arrangement is used as a bankruptcy alternative in many countries all over the world, including the United States of America. This provision is also commonly referred to as IVA. As per the US bankruptcy laws, a debtor may be allowed to re-arrange the repayment schedule with thei...

Bankruptcy Alternatives
Life After Bankruptcy

4 Things You Must Do To Smoothen Your Life After Bankruptcy

After a court declares you bankrupt, you will have to face some tough challenges. Bankruptcy is going to be on your record for the next 7 to 10 years, which means the recovery process for you is going to be very difficult and time consuming. In order to smoothen the quality of your life after bankru...

Life After Bankruptcy

Payday Loan Debts and Debt Consolidation
Debt has been a constant companion for middle class people who earn just to live hand to mouth and devoid of any saving for rainy days. We have been trapped in this modern age by various financial constrains wh... Read more

What are the pros and cons of debt consolidation?