Top Ten Reasons to File Bankruptcy
1. Eliminate the legal obligation to pay many of your debts..
This process of wiping the slate clean is called a discharge of debts. The goal of a discharge is to reduce debt to give you a fresh start. Whether it is through straight bankruptcy (Chapter 7 Bankruptcy) or through reorganization (Chapter 13 Bankruptcy), most or all of your debts can be cleared.
2. Stop foreclosure on you house and allow you to effectively make payments to catch up on missed payments of your mortgage. If your home is in foreclosure, Chapter 13 Bankruptcy will stop the foreclosure any time prior to the sale. Bankruptcy does not eliminate mortgages on your property without payment. Rather, bankruptcy will structure a plan in order to repay your mortgage arrears (the amount that you are behind).
<stop foreclosure> 3. Prevent your car or other property from being repossessed. Even if the creditor has repossessed your car, filing bankruptcy can effectively force them to return your car or other personal property (if the bankruptcy is filed quickly enough). The past payments you have missed will be consolidated into your Chapter 13 Bankruptcy plan. After this you will no longer pay the finance company, rather you will make monthly payments to the trustee of your Chapter 13 Bankruptcy who will then pay the finance company.
4. Reduce or even eliminate high medical bills. Sometimes an unfortunate accident or major recently discovered illness can completely ruin a family. Many families have to make choices on allocation of bills. Often, bills that were once important become insignificant to the large medical bills acquired by a loved one.
Filing Chapter 7 bankruptcy can greatly reduce the amount of medical bills.
5. Recent loss of employment. Studies show that loss of work is one of the most common reasons people file for bankruptcy. This is very easy to see.
A family can get comfortable on two maybe even one salary. They can take on regular amount of debts, join clubs, and pay normal bills with relative ease. All of a sudden one or both spouses lose a job and a family must go from two salaries to one. Losing a job is closely tied to high medical bills. Losing a job means this family may be left without the protection of insurance that was once provided by their employer.
Often times these two factors combined create an almost impossible mountain to climb without the help of bankruptcy. 6. Stop harassing behavior from creditors. Some creditors do not always take the right course of action when attempting to collect a debt. Often, creditors will persistently call the home of a particular debtor with demeaning and abusive behavior.
Not only is this unethical it can rise to the level of unlawful. In essence, bankruptcy will put on hold the demands of many creditors and stop the harassing phone calls and other inappropriate behavior all together. 7. Restore or prevent your utilities from being shut off. As you have probably seen many of these reasons overlap.
Some lead to another. If your home is in risk of foreclosure then your utility bill may also be in risk of being terminated. Filing bankruptcy can prevent the utility company from leaving you in the dark. 8. Provide help for large amounts of student loan debt.
<student loans> While it is true that your student loans will not be eliminated like several other types of unsecured debt, bankruptcy can consolidate your student loan debt. This consolidation will allow a debtor to make monthly payments through Chapter 13 Bankruptcy that are within the financial ability of the debtor.
Wage garnishment basically takes away your weekly earnings often times leaving you without necessities. Chapter 7 Bankruptcy allows you to purchase necessities for you and your family. Chapter 13 Bankruptcy will also help in this regard. 10. Challenge certain claims of fraudulent creditors.
Bankruptcy will allow you to challenge these claims from creditors who are trying to collect more money from you than you really owe. An attorney can provide the support and the backing you will need to step up to these creditors. Attorneys often even the playing field between a big creditor and a single debtor. Filing bankruptcy with an attorney can stop fraudulent reporting by a creditor..
Original content from bankruptcyhome.com We can help you find a Dallas Bankruptcy Lawyercan contact at siteadmin@bankruptcyhome.comHard Money Lenders Save Apartment Complex From Bankruptcy
Loan: $3,500,000 - Project: 22-unit apartment building - LTV: 64%One of the most difficult tasks in the construction industry is predicting the ?snags' that might increase the budget or prolong development. A few such snags put a 22-unit apartment building construction project in California over budget and behind schedule. The construction loan, as well as personal funds contributed by developer, was depleted.With the project approximately 95% complete, contractors had stopped work. Although he had substantial equity in the project, the developer was unable to obtain bank funding and was about to lose the entire project for lack of the last leg of operating capital. An alternative funding source, able to provide creative financing, was needed to see the project through to completion.Avatar Financial Group developed a funding package of $3.5 million dollars.
Avatar paid off the construction lender and, by paying contractors, cleared the contractor liens from the property as well....
Hard Money Lenders Save Apartment Complex From Bankruptcy
Bankruptcy > Hard Money Lenders Save Apartment Complex From Bankruptcy
Debt Consolidation - Choose a Credit Counselor Carefully
Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will require people who are filing for bankruptcy to first undergo mandatory credit counseling.This is probably not a bad idea; after all, many people with problem debt could probably benefit from credit counseling.
A good credit counselor can assist clients with problem debts in establishing a repayment schedule, creating a personal budget, and learning how to avoid debt and credit problems in the future.The problem is that with the estimated one and a half million additional people seeking credit counseling each year, there will undoubtedly be more credit "counselors" entering the market, and many of them are only interested in reaping huge profits at the expense of their clients.
There are already a number of credit counseling firms working in the marketplace that advertise themselves as "nonprofit", when they actually are closely tied to for-profit debt consolidation...
Bankruptcy > Debt Consolidation - Choose a Credit Counselor Carefully
You Can Get A Bad Credit Mortgage!
Recently, my significant other and I decided to buy our first home. We were unaware of the fact that we had bad credit until we sat down with a mortgage lender who told us our credit scores were terrible. He suggested a bad credit mortgage.
There are lots of causes to bad credit. One of the biggest causes of bad credit is if you are making a habit of late credit card payments. Late credit card payments are like a huge red buzzer to lenders.
It alerts them that you have been irresponsible in the past with making payments, and statistically speaking, you will be irresponsible again. That makes you a serious risk to their lending institution. Another popular cause of bad credit is filing for bankruptcy. You can file for many different kinds of bankruptcy. The two most popular forms of personal bankruptcy are a complete wiping of the proverbial slate and a debt reorganization plan.
Either way, the filing stays on...
You Can Get A Bad Credit Mortgage!
Bankruptcy > You Can Get A Bad Credit Mortgage!
Critical Information You Need to Protect Your Retirement
Copyright 2006 Equitrend, Inc.
America is heading for a train wreck.
Everyone knows it's coming, but no one is doing anything about it.
As an individual, you can wait and hope the inevitable doesn't happen, or you can prepare yourself and your finances now so you and your family can avoid and even profit from the disaster that's rapidly approaching.
The train wreck I'm talking about is the approaching retirement of the Baby Boom generation coupled with the failure of the country's pension system, a negative savings rate and the looming bankruptcy of Social Security and Medicare.
Here are the chilling facts:
--For the past two years, the savings rate in the United States has been negative.
That means that people are spending more than they're saving.
--The private pension system in America is as dead as the dinosaurs.
Economists predict that companies will...
Bankruptcy > Critical Information You Need to Protect Your Retirement
Bad Credit Mortgage Loans Online - How Your Fico Credit Score Can Affect Your Loan Approval
When applying for a mortgage loan when you have a bad credit history. There are a few things you should know about your FICO score that will help you know what to expect from mortgage lenders.With a credit score below 585, you will need to put at least 10-20% as a down payment on the property. You will not likely be approved for 100% financing at this point.If you have a credit score of between 585-599, you will probably need around a 5% down payment in order to get an approval for a home mortgage loan. You will still need to get your approval from a subprime mortgage lender. You will need to use a lender who specializes in loans for people with "less than perfect credit" or situations that make it difficult for a person to get financing for their home.If you have a credit score of 600 - 620, you will probably be able to get an approval for 100% financing.
You will also, in this situation, still need to use a subprime lender.With a credit score of 620 or higher, you may be able...
Bad Credit Mortgage Loans Online - How Your Fico Credit Score Can Affect Your Loan Approval
Bankruptcy > Bad Credit Mortgage Loans Online - How Your Fico Credit Score Can Affect Your Loan Approval
Web Site Launched for Crime Victim in Wake of Attacker's Pre-Emptive Bankruptcy Claim
When someone who has pled guilty to malicious crimes causing bodily injury to others, they can file for bankruptcy to escape ever facing a judge or jury for any civil penalties and force their victims into even greater poverty. Yet the bankruptcy reform legislation currently being considered by Congress does nothing to address this. The case of Pastor vs. Mawhinney may provide one of the clearest illustrations of the problem.On August 2, 2004, Raymond Mawhinney (a.k.a., "Ray Argyle," lead singer of the San Diego-based band "Plastic Explosive" and son of nationally recognized child psychiatrist Dr. Joseph Mawhinney,) pled guilty to a misdemeanor aggravated battery, although he was charged with felony assault and battery with serious bodily injury.
The person he admitted attacking, Douglas Pastor, was hospitalized twice for a total of ten days and endured over a year of life-threatening complications and corrective surgeries, remains unable to work and has become impoverished. Granted...
Web Site Launched for Crime Victim in Wake of Attacker's Pre-Emptive Bankruptcy Claim
Bankruptcy > Web Site Launched for Crime Victim in Wake of Attacker's Pre-Emptive Bankruptcy Claim
Critical Information You Need to Protect Your Retirement
Copyright 2006 Equitrend, Inc.
America is heading for a train wreck.
Everyone knows it's coming, but no one is doing anything about it.
As an individual, you can wait and hope the inevitable doesn't happen, or you can prepare yourself and your finances now so you and your family can avoid and even profit from the disaster that's rapidly approaching.
The train wreck I'm talking about is the approaching retirement of the Baby Boom generation coupled with the failure of the country's pension system, a negative savings rate and the looming bankruptcy of Social Security and Medicare.
Here are the chilling facts:
--For the past two years, the savings rate in the United States has been negative.
That means that people are spending more than they're saving.
--The private pension system in America is as dead as the dinosaurs.
Economists predict that companies will...
Bankruptcy > Critical Information You Need to Protect Your Retirement
2nd-to-no-1-in-loans.com Helps Consumers Find Correct Information, Advice and High Quality, Individually Selected Companies That Meet All Their Loan Needs
For the past couple of years, interest rates for 15-year and 30-year fixed home loans have hit an all-time low, allowing more consumers to be able to afford to buy a home. But, with the rates staying low, some renters who want to be homeowners do not know how to start the process to buy a home because there are so many different loan programs, services and companies. That's why Glenn Sarault, owner of SunBright Publishing, launched http://2nd-to-no-1-in-loans.com this week. "We've taken the time to find companies who offer many types of loans. We were also successful in finding companies who are able to assist with the difficult decisions around bankruptcy.
You'll be happy with your connection to select companies offering assistance andoutstanding rates on whatever type of loan you may need," Sarault said.http://2nd-to-no-1-in-loans.com helps consumers locate...
2nd-to-no-1-in-loans.com Helps Consumers Find Correct Information, Advice and High Quality, Individually Selected Companies That Meet All Their Loan Needs
Bankruptcy > 2nd-to-no-1-in-loans.com Helps Consumers Find Correct Information, Advice and High Quality, Individually Selected Companies That Meet All Their Loan Needs
ScientificWrestling.com, the Leader in Western Martial Arts Research, Celebrates the Irish's Contributions to Martial Arts with a Brand New Fighting DVD
Los Angeles, CA ContentDesk) March 17, 2006 -- No gloves, no time limits, no cowards; before there was the modern spectacle known as the UFC (Ultimate Fighting Championship) there was the well established tradition of bare-knuckle boxing.Now with the release of 'REAL BKB: Fights of the Irish Travellers' on DVD viewers can get ringside seats. The rules are simple: no grappling, no hair pulling, and no eye-gouging, just old-school bare-knuckle fighting.Different than anything most viewers have ever...
Top Ten Reasons to File Bankruptcy dvd copy
Bankruptcy > ScientificWrestling.com, the Leader in Western Martial Arts Research, Celebrates the Irish's Contributions to Martial Arts with a Brand New Fighting DVD
Examining 5 Kitchen Design Styles
As you are planning your new kitchen design, the look and style you select is very important in determining the overall feel your kitchen will portray.
From the country charm of wood cabinets to modern-looking stainless steel appliances, kitchen design styles come in many choices and styles.
So just what determines your kitchen's design style?
Well many of the more successful kitchen design styles are made up of many components go together the right...
Bankruptcy > Examining 5 Kitchen Design Styles
Top Ten Reasons to File Bankruptcy silk Bankruptcy
Sony LCD Projection TVs: Big News, Big Headache
New York City, New York (ContentDesk) April 20, 2006 -- Rear-projection screens have received rave reviews recently as a less-expensive alternative to flat screen TVs or plasma TVs. These rear-projection TVs still have a large sticker price, up to $3000, but many consumers complain that the screen quality and technology is not as advanced.Consumers that have been convinced to buy the new product on the block are complaining that their Sony-brand rear projection TVs do not have stellar performance....
Top Ten Reasons to File Bankruptcy tvs Sony LCD Projection TVs: Big News, Big Headache Bankruptcy
Bankruptcy > Sony LCD Projection TVs: Big News, Big Headache
Free Internet telephony made easy! conaito VoIP ActiveX SDK
ActiveX library for developers of VoIP audio applications, such as voice chat, conference, VoIP, providing real-time low latency multi-client audio streaming over UDP/IP networks. Includes efficient components for sound recording, playback, encoding, decoding, mixing, resampling, reading, and writing wave files, mixer volume controls access. Provides UDP/IP server and client components for peer-to-peer, multi-user, and broadcast audio communications. Really easy to use! Working with Firewall...
Top Ten Reasons to File Bankruptcy Free Internet telephony made easy! conaito VoIP ActiveX SDK
Bankruptcy > Free Internet telephony made easy! conaito VoIP ActiveX SDK
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