With Bankruptcy, Sooner is better
Filing for bankruptcy can be intimidating, especially for people who have always been financially secure. There are quite a few reasons why people put off filing for bankruptcy; denial, embarrassment or maybe they consider bankruptcy a final option. Waiting, however, can cause more stress and more financial strain on you and your family. While bankruptcy […]
Personal Bankruptcy for Small Business Owners
The economy has been hard on all of us; small and large businesses alike have felt the effects. Most often, the news focuses on corporate bankruptcies and large company debts, when small businesses are struggling as well. So what happens to a small business when the owner is facing personal bankruptcy? Do they have to […]
The different types of bankruptcy explained
There are four types of bankruptcy: chapter 7, 11, 12, and 13. They are named depending on their chapters in the United States Bankruptcy code. The types differ based on the debtor, the debtor’s income, and the methods used in repaying the debts. Chapter 7 and 13 bankruptcy are for individuals seeking to settle their […]
Explaining Your Bankruptcy
Hard times fall on many people, especially in a recession or bad economy. Filing for bankruptcy has been the saving grace for many of these financially frustrated individuals. While filing for bankruptcy can be a huge relief to those in debt, many people feel they don’t know how to explain their bankruptcy to family, creditors […]
Top Three Signs You Should Consider Filing For Bankruptcy
Considering the idea that you may have to file for bankruptcy is not an easy topic to contemplate. An individual should never be ashamed of wanting to clean up their financial past and present; ready to do what it takes to move forward. So how do you know when you should consider filing for bankruptcy? […]
Bankruptcy Defined
The laws of bankruptcy have changed over the past ten years. Although, even with the amendments made, bankruptcy is still simply defined as a tool to assist individuals and businesses overwhelmed by debt in having a government-backed solution. This process allows either a business or an individual to regain financial control of their life by […]
A Brief History on Bankruptcy
In Ancient Greece Bankruptcy did not exist. If a debtor could not repay the money he owed, then he, his family and his own servants were forced into “debt slavery” until the creditor recovered the losses through their physical labor. While “debt slavery” is far from the bankruptcy we know, the Greeks did begin to […]
The Dangers of Debt Consolidation
Debt consolidators can seem like the answer to all of your financial problems; they roll your loans into one payment, your terms are negotiated and your monthly payment is made more manageable than before. Unfortunately, the down side of debt consolidation is that it can be a poor choice for many individuals and can even […]
Celebrities Who’ve Filed for Bankruptcy
Celebrities seem to have it all; fame, fortune and extravagant lifestyles. Some celebrities, however, find themselves in financial troubles that they didn’t even see coming. With wealth comes responsibility, some celebrities spend more than they make while others have tragically entrusted their finances to an unreliable or untrustworthy individual. Either way, celebrities are no different […]
Effect of Annuity or Periodic Payments in Bankruptcy Proceedings
Finances are one of the most common things that people worry about. This is especially true given the current state of the economy. Sadly, many people have lost their jobs, bringing the unemployment rate to a higher percentage than it has been in decades. The housing market has not helped the situation either, as many […]