If you are planning to file for bankruptcy the first thing you should consider is hiring a bankruptcy consultant. There are plenty of issues that can arise that will need professional guidance while you are going through a bankruptcy proceeding. A bankruptcy consultant is able to guide clients with the best options for filing in [...]
The Chapter 11 bankruptcy code spells refuge to many companies who are on the brink or over the edge of bankruptcy. Under this clause, a company will be protected by the Court, provided the company will allow the Court to appoint a trustee who would operate the debtor’s business toward financial recovery.. Under the Chapter [...]
There are many bankruptcy myths floating around and being passed on as truths, which can easily affect someone’s decision as to whether or not go the bankruptcy route. Here you will find some of those myths clarified. Myth – If you have a job you are not eligible to file for bankruptcy. Truth – The [...]
Bankruptcy court cases are not easy. Most people are under the impression that bankruptcy is an open and shut case. You tell the court you are broke, they check and find out it if it is true and then the court declares the consumer bankrupt. The fairytale ends with a happy consumer whom is free [...]
Here is some news for consumers who falsely believe that filing for bankruptcy will wipe your slate clean of creditors attempting to recoup their money. Under Bankruptcy Code 523 there are a number of debts that will remain the responsibility of the debtor, even if, he/ she successfully files for bankruptcy. Among these exceptions include [...]
Joint bankruptcy is when a husband and wife file for bankruptcy together or “jointly.” Before you decide on whether you should file individually or joint, you need to look up the pros and cons of the situation as well as, keeping in mind what your ultimate long and short term financial goals are. The Disadvantages [...]
Most people do not really understand the full implications of bankruptcy. The reality is that bankruptcy is not a new bed of roses, although someone in deep financial troubles can perceive this relief as such. First of all, not everyone will qualify for bankruptcy. After the bankruptcy laws were amended in 2005, there were many [...]
It is a myth that bankruptcy solutions will cover all financial problems. There are many debts that bankruptcy will not resolve. Before you declare bankruptcy, you need to be aware, which of your debts will not be covered under bankruptcy relief. Some debts that will not be covered are: 1. Student loans – This loan [...]
Did you know that there is insurance against identity theft? As millions of people are falling victim every year to this crime, new measures to protect consumers from such tragedy are emerging. It is now possible to get identity theft insurance. The provider of this type of insurance will reimburse victims up to $1,000,000 of [...]
There are about 9 million Americans who fall victim to credit theft every year; and the number is growing steadily. This type of theft is when your name and your social security number are used to avail loans, or when your credit card is used in an unauthorized manner. This has become a “business” today [...]
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