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Archive for the 'bankruptcy' Category

One Connect with Bankruptcy Attorney in all 50 states is better than two of something else

August 31st, 2009 by bankruptcy

This is especially for debtors whose income is regular and who want to adjust the debts by repaying over a span of 3 to 5 years.

Chapter 13 Introduction

The Chapter 13 Bankruptcy is known as a plan for wage earners. This plan facilitates the debtors with stable income to repay the part of or all the debt through installments over a period of 3 to 5 years. The duration of chapter 13 bankruptcies can be 3 years if the present monthly income of the debtor is less than the state median that is applicable. The plan can be extended provided the court approves for it but this duration cannot go beyond 5 years. The creditors can neither start nor continue any efforts for collecting money from the debtor during this period.

How is it lucky for debtors?

Filing chapter 13 bankruptcies offers the debtors with a chance to save their houses from foreclosure.

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Category: Business, Financial Planning, bankruptcy, financial education | 1 Comment »

Filing Chapter 7 Bankruptcy in Georgia

August 31st, 2009 by andrew.rakers

Chapter 7 Bankruptcy is a liquidation of your assets and is called a straight bankruptcy. Many individuals who file Chapter 7 Bankruptcy will not have assets. This is called a “no-asset” case. The first step prior to filing Chapter 7 Bankruptcy is to contact a Georgia Bankruptcy Attorney who can help determine if you can qualify for Chapter 7 Bankruptcy. If you can, a trustee is appointed by the bankruptcy court to sell your non-exempt property and use the proceeds of the sale to pay your creditors. Creditors will be paid in the order designated under federal bankruptcy law. It will take approximately four to six months to discharge your debt.

Chapter 7 Bankruptcy is the most common type of bankruptcy because it is easy, inexpensive and quick. Most unsecured debt will be discharged. Dischargeable debt may include hospital bills, personal loans and credit card debt. Married couples, partnerships, individuals and corporations may all file Chapter 7 Bankruptcy if they qualify.

Your Georgia Bankruptcy Attorney can file your bankruptcy petition, the schedule of your liabilities and assets, a list of your income and expenses and all information about contracts or leases. The filing of the bankruptcy petition will force all of your creditors to temporarily stop their debt collection efforts. Collection efforts may continue if the bankruptcy judge determines there is cause.

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Category: Financial Planning, bankruptcy | No Comments »

Filing Chapter 7 - Getting Rid of Bankruptcy

August 25th, 2009 by andrew.rakers

What is Chapter 7 of Bankruptcy?

Chapter 7 Bankruptcy is ideal for debtors that have huge unsecured debt. When you file for this, the trustee uses all the non-exempt assets at disposal and pays of whatever possible fraction of your debt. The remaining debt is0 discharged. Thus, you become free of debts. Laws vary from state to state and all states provide the liberty of keeping a part of your possessions. It would be best to consult a bankruptcy attorney to find the application of Chapter 7 Bankruptcy.

Am I eligible for Chapter 7 Bankruptcy?

Several schedule need to be first completed by the bankruptcy lawyer. One’s assets, income, debts, expenses, income, and other documents are listed in these schedules. It is only after this that one’s eligibility can be determined. The evaluation of your income in comparison to expenditure is done by bankruptcy means test. This test decides the number of applicants who can file on the basis of their income. One should know that the eligibility is not determined solely on the basis of the debt amount. In the past, the number of those who have filed for bankruptcy has been restricted and limited. Prior to filing Chapter 7 Bankruptcy, a credit counseling class becomes compulsory.

What does Chapter 7 Bankruptcy involve?

The main steps towards application of Chapter 7 Bankruptcy are as follows.

  • Consult a bankruptcy attorney to decide your eligibility for Chapter 7 Bankruptcy
  • The Bankruptcy Attorney should be able to answer your queries and explain which one of Chapter 7 Bankruptcy and Chapter 13 Bankruptcy is better suited for you. He should be thorough with the chapter 7 bankruptcy rules.
  • Set all the information about you financial details in order. The financial details include income, expenses, debts, and assets
  • To make your work easier seek a check list from your Bankruptcy Attorney
  • After filing bankruptcy application one is informed about the schedule of appointment with the bankruptcy trustee
  • One has to wait for the final order for the discharge of the debts
  • One is free from debts.

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Category: Business, Financial Planning, bankruptcy, financial education | No Comments »

Making Bankruptcy Car Loan Easier Than Ever Before

August 24th, 2009 by andrew.rakers

When an individual has already filed for bankruptcy and the lender offers him/her auto finance then it is called Bankruptcy Car Loan. In this case when one has already filed for bankruptcy getting an auto loan is not an easy task. The car loan can be approved only if you get the right lender and when you submit the necessary documents.

Searching a lender

The best move is to approach the conventional lender. If your traditional lender rejects your application then try the online option. Search the internet for those lenders who offer loan to individuals with bad credit. The choice of lending company should be based on the rate of interest offered. The car dealership can be an option to get your bankruptcy car loan but the rate of interest may be higher.

Light at the end of the tunnel

Contrary to common belief the possibility of car loan after bankruptcy is practical and real. The lenders compete and try to attend to every single prospective client. Bad credit record and bankruptcy are not of much concern to some lenders. It is easy to obtain a car loan than getting a personal loan. Thus bad credit car loan or car loan with bad credit is also possible. The duration to repay the loan may vary from 5 to 7 years. The other better alternative is refinancing which later on proves to be beneficial for the borrower. With refinancing you can even save a few thousand dollars.

Apply for Bankruptcy car loan

Some tips to get car loan after bankruptcy

  • Good credit score can be build by prompt and regular payment
  • Try to keep your accounts in order
  • Try not to buy expensive cars and try for low interest car loan
  • If you wait for some time then the car financing is possible at lower interest rate.
  • Compare the interest rates quoted by different lenders
  • A huge down payment can build confidence in the lender’s mind.

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Category: Financial Planning, bankruptcy | 1 Comment »

Bankruptcy Isn’t The Way Out Get Credit Card Consolidation Help

August 16th, 2009 by pamela3286

Bankruptcy Isn’t The Way Out Get Credit Card Consolidation Help

Debt consolidation is referred as combining your current and previous debt amount in one single loan. Debt consolidation program aim is to make it simpler for the borrower to keep back some specific and most possible amount of cash to pay off all of the debts. The appeal is in the convenience of merging all of your student loans, personal loans, and your special temporary payday loans into one financial debt. Before filing, bankruptcies don’t forget to facilitate for credit card debt consolidation. There are several possible ways available for you in market, which will provide you debt consolidation services. Moreover, that will actually reduce your financial debts and requirements.

Certainly, there are number of free debt consolidation programs. Few of these alternatives could carry out respectable work for resolving all the debts problems. However, the fact is that most of individuals in fact believe in the likely that debt consolidation quote offers to them. This technique is been confirmed for work and it’s even proven for reducing some of individual’s tax obligations. Many people are interested in debt consolidation service simply because there would be chances to avail tax benefits even they are financially stressed or not. If you are working with a lawful and reliable company, which has the customer’s best interest put ahead of their own, then it’s possible to get an accurate and actual way out. Each case is unique, however, so any specifics will have to be left up to you and your prospective debt consolidation company.

Our experts will assist you better way with individual’s concern of every loans you are loaded with now. They would even try to negotiate on your behalf with your creditors for a lower rate of interest on your different debts. In some case, specialists would be able to negotiate with lenders regarding a small cash advance loan by an extremely low rate of interest in order to assist you overcome your credit trouble. Free Debt consolidation provides you the chance to pay off your debts in a much more reasonable and much less stressful manner.

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Category: General, bankruptcy | No Comments »

Loan Modification Vs Bankruptcy - Loan Modification 100 times better than bankruptcy

August 7th, 2009 by refinancemortgagerates

Most of US citizens consider filing bankruptcy is better option but they wrong. Instead of filing bankruptcy, loan modification would be the best option for people worried regarding their debts. Get Started Now

Homeowners now worried about to file for bankruptcy while there is another option available. It’s simply death for your credit rating and a very unlikable experience all round. So with rising number of Americans facing financial hardship as a result of the recession, more and more people are applying to their lenders for loan modification to assist them in continuing to pay their mortgage for mortgage refinance and therefore save their home. Loan modification is effectively the renegotiating of your presented loan terms in order to make them more reasonable. This might concern reducing the interest rate, cutting what you owe on the major and minimizing the monthly payment to amazing that your lender is happy with and that you can afford.

Of course, bankruptcy remains an alternative for those facing difficulties gathering their monthly mortgage payments. However, not everybody is completely aware that declaring yourself bankrupt does not assurance that you will avoid foreclosure. As such, home loan modification are a truly viable alternative.

Loan Modification is 100 times better than to file for bankruptcy. There are plenty of reasons that loan modification is a better option than bankruptcy for many. Here are just some of them: If you file for bankruptcy, you are really powerless to prevent a foreclosure. Bankruptcy only recommend a short term period in which a lender will be not capable to inquire about your finances. This is a short term setup. However, loan modification remains you paying your mortgage, with some concern, considerate and assistance from your lender; sense that you carry on building up equity in your home.

Bankruptcy is similar to suicide for credit ratings. You might find that you will never, ever again be capable to obtain a mortgage and that still if you find a lender ready to offer you a mortgage, you, as a high risk candidate, will possibly find yourself being accessible very high rates. Loan Modification Companies have no cause on your credit rating. In fact, loan modification can actually help in improving your rating if your lender will report payments to credit agencies. If you are seen to be making regular payments on your recently modified loan, it highlights you are creditworthy. At the end we must say that, loan modification enable you to keep your home and your credit rating. While bankruptcy could be a black cloud on your credit rating, and thus personal finances, for the rest of your life.

The other option to need get cash back when you refinance your mortgage the cash out refinance is best option With a cash out refinance , lower rates or to just get part of your equity out. Once the refinancing process is completed, you will end up with a check. You can decide to take up to 90% of your home’s equity in some cases. However, cashing-out a large percent of your home’s value will impact your refinancing rate and might require you to carry private mortgage insurance (PMI).

If you have bad credit and need to refinance get bad credit mortgage refinance & also learn about second mortgage loan.

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Category: Mortgages, bankruptcy | No Comments »

Filing Bankruptcy Online : For A Smoother Bankruptcy Process

August 7th, 2009 by andrew.rakers

online filing bankruptcyNow days, with the wide availability of bankruptcy form processing services on Internet, filing bankruptcy online has now become easier and the good part of the story is that the process is very easy and time saving. If you understand the legal requirements associated with filing bankruptcy and you know what are the forms that you need to fill and submit in this regard, you do not even require hiring a bankruptcy attorney to help you with the procedure of filing bankruptcy.

Ways To File Bankruptcy

In fact, there are plenty of ways you can use to file court petition for bankruptcy. For example, if you can hire bankruptcy lawyers to do the job for you or you can avail the various online bankruptcy services available on Internet, or if you are a legal expert and you know the ins and outs of the various bankruptcy laws, you may choose to go for personal filing.

How Much Does Filing Bankruptcy Online Cost?

Depending upon the type of filing process you have chosen, the costs will vary. For example, filing bankruptcy online for chapter 7 bankruptcy and chapter 13 may cost you somewhere around two hundred dollars or less, depending upon the type of bankruptcy you are filing for. If your bankruptcy case is a bit complicated and you know that you are not capable enough to defend your bankruptcy claims yourself successfully, it is always recommended to avail the valuable services of an expert bankruptcy attorney. They will never let you down. These days, even the bankruptcy lawyers choose to go for filing bankruptcy online, as it makes the process much easier and most importantly, it saves a lot of time both for the debtor and the bankruptcy attorney, but of course, it costs a little more.

Advantages Of Filing Bankruptcy Online

If you do not want to hire a bankruptcy attorney, it will be wiser for you to take advantage of the various online bankruptcy services. They are known as online bankruptcy form processors. They will help you in several ways. For example, when you submit your specific bankruptcy case to them along with all the relevant information, they will suggest you the right type of bankruptcy that you should claim for and they will provide you the right bankruptcy forms to fill. Once you submit those forms, they will review all the information you provided with the forms. If some information is missing, the online bankruptcy forms processor will inform you regarding the same and will ask you to submit the missing information.

Free Bankruptcy Consultation

Once they approve everything, on your request, they will even file a court petition for bankruptcy for you. This way, we can see that filing bankruptcy online will take away the pain out of the complicated proceedings.

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