Business & Finance: What If I Am Late on My Chapter 13 Payments?

What If I Am Late on My Chapter 13 Payments?

Chapter 13 bankruptcy consists of a debtor creating a payment plan for his debts. The debtor must submit monthly payments to a bankruptcy trustee for the duration of the bankruptcy case. The trustee distributes those payments to the debtor's creditors. If the monthly payments are late on a consisten

Business & Finance: How to Negotiate Debt Repayment

How to Negotiate Debt Repayment

There are many companies on and off-line offering to negotiate with lenders on your behalf. Some of them are legitimate, many are not. They promise to reduce your overall debt and shrink your monthly payments. Some are even successful. However, there's nothing that these companies do that you cannot

Business & Finance: Consumer Debt Laws

Consumer Debt Laws

Know your rights as a consumer.Debt concept - cutting a credit card image by Sophia Winters from Fotolia.comReceiving unwanted calls from bills collectors, losing sleep and worrying over debt is all too common in an economic times. Fortunately, consumers who are not being treated fairly...

Business & Finance: Is Periodic Alimony Dischargeable in Bankruptcy?

Is Periodic Alimony Dischargeable in Bankruptcy?

By filing for bankruptcy, you can erase many of your debts. The bankruptcy court grants you a discharge, and this discharge prohibits your creditors from coming after you to collect on debts you had formerly owed to them. A discharge by way of bankruptcy cannot rescue you from obligations associated

Business & Finance: What If I Sold My Home Before Deciding to File Chapter 13?

What If I Sold My Home Before Deciding to File Chapter 13?

In Chapter 13 bankruptcy, you pay off your creditors for three or five years, and then the bankruptcy court discharges most of your remaining debts. Chapter 13 cannot discharge any debt secured by collateral, such as a mortgage, but you can catch up on any back mortgage debt as part of the payment p

Business & Finance: How Are Student Loans Handled in Bankruptcy?

How Are Student Loans Handled in Bankruptcy?

You will likely be held accountable for the repayment of student loans even if you file for bankruptcy. Student loans are senior debts, and this means that they are given high priority in a bankruptcy case. If you feel you absolutely cannot repay the debts without extreme hardship, a judge may disch

Business & Finance: Small Business Bankruptcy Advice

Small Business Bankruptcy Advice

When your small business is no longer able to survive, you may consider filing for bankruptcy. One kind of business bankruptcy, Chapter 7, is a liquidation of assets to repay debts and is usually the end of the business. Chapter 11 is designed to be a means for financial reorganization, meaning the

Business & Finance: How Does a Means Test Apply to Chapter 7 Bankruptcy?

How Does a Means Test Apply to Chapter 7 Bankruptcy?

One of the requirements of filing chapter 7 bankruptcy is to undergo a 'Means Test' and to submit a Current Monthly Income report to the bankruptcy court. A means test is a three-step mathematical calculation done on income and expense worksheet that makes sure people are not abusing the b

Business & Finance: What You Should Know About Free Bankruptcy Forms

What You Should Know About Free Bankruptcy Forms

Some people feel caught between a rock and a hard place. They know they must file for bankruptcy and yet they are shot down at free counseling sessions with legal professionals who tell them they must cough up $1,500 just to file!

Business & Finance: Debt Prime Tips

Debt Prime Tips

Being in debt will cause a huge amount of pressure for all involved. Additionally to this, it leaves individuals vulnerable as they're so needing to resolve their downside they can accept any route out of debt. This can build matters worse. It is a sad truth that there are hundreds of unethical

Business & Finance: Debts That One Can Not Be Relieved From During Bankruptcy

Debts That One Can Not Be Relieved From During Bankruptcy

When you get into a financial mess that incapacitates you as far as paying your creditors is concerned, you will need to file for bankruptcy. While it is true that filing for bankruptcy can give you such relief from your debts, it does not necessarily mean that all forms of debts can be forgiven.

Business & Finance: Nonprofit Debt Assistance

Nonprofit Debt Assistance

When you have debt big debt problems, sometimes it helps to have an adviser to help you get your finances back on track. Nonprofit debt assistance programs offer several levels of help ranging from teaching and advice to direct debt settlement negotiation with your creditors. Keep in mind that servi

Business & Finance: President Shames Banks And Bailouts

President Shames Banks And Bailouts

President Barack Obama was recently very direct and on target when making his case for financial reform, close to where the economic crash all began—near Wall Street at the Cooper Union, in lower Manhattan. He, rightfully, blamed the fiscal meltdown, only two years ago, on bankers’ &ldqu

Business & Finance: How to File for Bankruptcy in India

How to File for Bankruptcy in India

Filing for bankruptcy in India means that one is not able to repay his debts and loans. It would be advisable to file for bankruptcy to avoid being hounded by your creditors if you are in serious financial trouble. However, filing for bankruptcy in India will not reflect well on your credit rating f

Business & Finance: Filing Your Own Bankruptcy - What it Entails

Filing Your Own Bankruptcy - What it Entails

Sometimes, we need professional help when dealing with bankruptcy, yet the assistance that you will get requires finances which you do not have. Affording these services will entirely be out of question. This is because, by the time you are considering filing for insolvency, it is already clear that

Business & Finance: Bankruptcy & Forfeiting My House

Bankruptcy & Forfeiting My House

Bankruptcy can provide many financial advantages, but it also comes with some risk to your home and other property. This is particularly true if you file Chapter 7 bankruptcy because all of your nonexempt property is subject to liquidation by the trustee. The exemption system is governed by state la