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: How to Appeal Bankruptcy in Georgia

How to Appeal Bankruptcy in Georgia

Filing bankruptcy isn't always an easy way out of debt. The judge on your case could reject your discharge -- the decision that wipes out what you owe -- if she believes you've hidden information or otherwise filed in "bad faith." This doesn't have to be the final decision if you decide to appeal to

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: 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: Get Even With The Banksters Using the Automatic Stay In Bankruptcy

Get Even With The Banksters Using the Automatic Stay In Bankruptcy

Back in 2007, the entire world suffered an economic catastrophe just short of a complete collapse. To stop it from happening the central banks started printing money to add liquidity to the markets. First, the US passed a stimulus bill of close to $1 trillion to bail out the too big to fail financia

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: How to Calculate the Claim Amount for a Secured Creditor

How to Calculate the Claim Amount for a Secured Creditor

There are three types of debt in a bankruptcy pleading. Unsecured debt includes credit card debt and other debt that does not have property assigned to it. Priority debt includes the trustee's fee, child support and back taxes and secured debt includes property attached as collateral for the debt. T

Business & Finance: Staying Debt Free Following Bankruptcy

Staying Debt Free Following Bankruptcy

Nowadays many people have given in to the temptation of instant gratification that comes along with easy credit. They feel that it is okay to live above their income level by relying on credit as the means to take them to that next level. It is easy to buy and have it now, then worry about paying fo