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Bankruptcy : Business & Finance
Useful Information About Mortgages
Typically, mortgages refer to the loans and liens on property or house. The loan has to be cleared within a specific period of time. However, there are different types of mortgages available in the market. All of them have their own advantages and disadvantages.
What Is a "Substantial Portion" for Chapter 13?
If you file Chapter 7 bankruptcy, you may be able to wipe out your debts and pay your creditors next to nothing. If the bankruptcy court decides you have enough money to repay a substantial portion of your debts, it may dismiss the bankruptcy or require you convert to Chapter 13. Bankruptcy law does
Aim Directors Show Pay Restraint
Whist the pay of senior executives in the UK’s major companies is constantly under scrutiny from the press in these days of austerity, the most recent research into Directors pay for AIM companies has shown that many CEO’s and Finance Directors are, on the whole, taking a responsible vie
California Debt Collection Law
If you owe a significant amount of money to creditors in California, you may receive phone calls from collection agencies. Your creditors have the legal right to use collection services to capture the money owed to them. But you have rights, too, under the California Fair Debt Collection Practices A
Consumer Proposals, Another Option Under the Bankruptcy & Insolvency Act
A consumer proposal is a legal process that allows you to negotiate a settlement with your creditors. It is an option that is provided under the Bankruptcy and Insolvency Act, but is not bankruptcy. In fact, it is a very good way to avoid bankruptcy and the significant impact on credit on credit tha
Decide If Bankruptcy is a Right Debt Solution For You
Is bankruptcy filing the best option for you to discharge your debt? If yes, then some things need to be considered before you come to the decision to finalize this option as the way out of debt.
Tax Treatment of Debt
The IRS considers a discharge of debt to be treated as taxable gross income, according to the Internal Revenue Code Section 61(a)(12). However, debt is not taxable in certain instances under the tax rules.
Debt Management & Reduction
Being in debt can be extremely stressful. It also might have repercussions well beyond your financial security. Managing and reducing your debt is feasible if you create a game plan and stick to it.
Bankruptcy and Your Lifestyle - The Effects of Filing
Bankruptcy doesn't just have something to do with your lifestyle; it has everything to do with it. While many people see correlations with your pre-bankruptcy lifestyle, there is another correlation that isn't quite as clear. They are both, however, very important points that need to be di
Federally Backed Green Companies Continue Filing Bankruptcy
Over the last few years there's been a push to convert from coal burning and petroleum-based energy and go green. When Obama became president he pushed for massive financial support for this so-called Green industry. Shortly after getting into office the wheels started falling off of the progra
Comparing Chapter 7 and Chapter 13 Bankruptcy
Consumer bankruptcy or personal bankruptcy can be done with either chapter 7 or chapter 13 filings. Make sure you understand the differences between these two types of bankruptcy, as well as the long term negative impact of bankruptcy, and that you have thoroughly investigated any and all options an
Wage Garnishment Rules for Tax Liens
Wage garnishment law applies uniformly in most circumstances. When a person defaults on a debt, the creditor to whom he owes money can obtain a judgment and a writ of garnishment to collect money owed by garnishing the debtor's wages. Owing back-taxes is no different. If a debtor owes taxes --- whet
Bankruptcy - 5 Ways to Avoid Bankruptcy
In today's debt ridden society many people are in severe financial difficulties, often for reasons outside their control. Bankruptcy for many, is the last step in a long road of financial pressures but many opt for this solution too early and without considering suitable bankruptcy alternatives
What You Should Know About The Bankruptcy Form
The Bankruptcy Abuse Prevention and Consumer Protection Act (April 2005) made it more difficult for consumers to simply fill out a bankruptcy form and walk away from their debts through a Chapter 7 filing. For ...
Changes in Mortgage Payments in Chapter 13 Cases
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.
Personal Liability in Business Chapter 7
If your small business is struggling, and you have considered filing business Chapter 7 bankruptcy in order to get out from under your debt burden, you have probably wrestled with the question of how much ...
Can a Collection Agency Take Me to Court Before Talking to Me?
Creditor and collection agencies must follow specific rules when contacting a consumer or debtor regarding a past due balance. Title 15, Chapter 41, Subchapter V, Section 1692 of the U.S. Code dictates debt collection practices. This section of the U.S. Code dictates communication and collection pra
Debt Plans
Debt management is an important component of fiscal responsibility. The many sources of debt include credit cards, student loans and hospital bills. Having a large amount of debt can become stressful. The good news is that it is always possible to work your way out of debt, and you can use several t
Chapter 11 Plan of Reorganization
From a Chapter 11 New York to one in California, the same United States Bankruptcy Code which permits reorganization under US bankruptcy laws applies. The ultimate goal of the process is the plan of reorganization: a debtor is said to emerge from reorganization once the plan of reorganized is confir