bankruptcyresource

Are you considering bankruptcy, but you do not want to give up your car? Do you know your options when it comes to your car? You could ask an attorney, but they will charge you for their time. There is a pretty easy answer to the question, "do I have to claim my auto loan on a bankruptcy?" First, if you need to keep your car, then you do not have to claim it on your bankruptcy. You do not have to wipe out all the debts, but you will probably have to show that you have paid your auto loan on... Read Full Story

First of all, you're not alone. Filing bankruptcy is probably one of the most difficult decisions you'll ever make. So, let's make sure you comprehend exactly what filing bankruptcy means and how it will affect your life. The following guide to filing bankruptcy will help you to understand what goes on behind the scenes. Bankruptcy, as you know, has changed over the last 3 years. In October, 2005 new federal laws made it harder to file Chapter 7 bankruptcy (total liquidation) and instead... Read Full Story

Many people don't realize that there are 6 types of bankruptcy chapters. Not all apply to the average individual, but this information may be of interest to you now or sometime in the future. Under the United States Code, there are actually 6 types of bankruptcy chapters entitled under the Federal Bankruptcy Code. Below you will find each type of bankruptcy and see what each means. The 6 bankruptcy codes are listed below: Chapter 7 - most people and/or businesses file chapter 7 for total... Read Full Story

Over the last few years, bankruptcy laws have seen major change. In the old days, you could simply decide to file bankruptcy on a whim. If things were going semi-bad for you and you wanted to start over, you could do so easily. It didn't really take that long and you got a fresh start pretty soon afterwards. Today, this is merely a pipe dream. With all of the changes that have come into bankruptcy law recently, people view it as a completely different animal now. What new rules does... Read Full Story

Bankruptcy advice varies, depending on who you ask. A credit card debt reduction company might say that it's better to just stick it out, settle your debts and establish a monthly payment schedule, even if it takes you five years to finish it! Needless to say, many of the debtors set up on such plans drop out and file for bankruptcy anyway. If you were to ask a lawyer, then they might say that bankruptcy is the only option for you, while asking for more than $250 just to file. Many people... Read Full Story

Thinking of filing bankruptcy? Before you do, pull out your calendar and the phone number for your bank. The day you choose to file could save you (or cost you) thousands of dollars. Here's why: the assets that you own on the day you file are the only assets that are considered in your case. That means they're the only ones that creditors may be able to get to. Some assets pretty much retain the same value during the course of a month, like your car or your home furniture, for example. But... Read Full Story

Filing bankruptcy is not a decision to be made lightly, as it is likely to affect your ability to obtain a mortgage, a car loan, or a new unsecured credit card for quite some time into the future. In this day and age, your credit report will very likely be pulled when applying for a new job, an apartment lease, and car insurance. The process of filing bankruptcy should not be an exciting process that you look forward to, but instead should be viewed as your last resort option. It may indeed... Read Full Story

Having a Bankruptcy is one of the most devastating things that you can experience. You may ask after I have this Bankruptcy will I be able to raise my credit score. There are things that you can do after you have a Bankruptcy that can help your credit score and financial situation. You need to get a copy of your credit report so that you know exactly what your credit score is. Next you want to look through the report to see if you have any items that should not be on your report. When you are... Read Full Story

What is all of the talk about bankruptcy these days? Quite simply, it is the section of the federal law that will allow a person who is in an extreme amount of debt to get a "fresh start". It will reduce the amount of debt that is required to be paid back as well as extend the time period in which the debt must be repaid. Will you need a bankruptcy attorney to help you sort through all of this? The answer is a resounding YES and let me explain why. The bankruptcy laws are often referred to by... Read Full Story

Often times, people believe they can file bankruptcy without the assistance and guidance of a bankruptcy lawyer. However, with all of the new laws in place, this couldn't be further from the truth. Lawyers versed in the laws of bankruptcy, are more important now, than ever before. Bankruptcy laws vary from state to state. A bankruptcy lawyer can help guide you through the laws and make the most of your bankruptcy claim. In many instances, a lawyer can help save a great deal of your assets... Read Full Story