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Bankruptcy : Business & Finance

What Is the Meaning of a Collection Letter?

According to the Bureau of Labor Statistics, over 411,000 individuals were in the debt collection business as of 2008. This number is projected to grow to over 479,000 by 2018. Each individual as represented under this statistic is able to send a collection letter to a consumer.

The Advantages of Chapter 13 Bankruptcy

Declaring bankruptcy under Chapter 13 is one way that the federal government has provided as a means for individuals or families to dig themselves out of what might appear to be an insurmountable debt load. Individuals or families that declare Chapter 13 bankruptcy agree to pay back their...

Can I File For Bankruptcy For Free? The Truth About Free And Bankruptcy

In the current financial scenario, bankruptcy is a Damocles' sword that is hanging above every individual, businessperson and even the corporates. The times have changed, and these laws are becoming more difficult for the common person to understand. However, bankruptcy means paucity of money,

Bankruptcy Discharge for Illinois

If you have lived in Illinois for at least six consecutive months and cannot pay your bills as agreed, you potentially qualify for a discharge of debt through the United States Bankruptcy Court. A bankruptcy discharge, rendered by an Illinois judge, partially or fully absolves you of most debts depe

Normal Debt to Equity

The debt-to-equity ratio measures the liquidity of a company by calculating the amount of debt in relation to the stockholder equity (cash). Looking at debt to equity is a quick way to determine if the company has borrowed too much against its projected profit, which could mean that the company is i

How Long Can You Be Garnished?

When you owe a debt, your creditor may threaten to garnish your wages. In some cases, this threat is only an attempt to invoke fear. However, some companies follow through on the threat. To follow through, the company files a lawsuit against you. If you fail to pay off the lawsuit, the company goes

Can I Get Rid of a Judgment Lien When Filing a Chapter 7 Bankruptcy?

In a Chapter 7 bankruptcy you are not be able to avoid junior mortgages or equity lines of credit (considered to be consensual liens) on your property even if your house is underwater. Treatment of underwater liens is different in a Chapter 7 case then a Chapter 13 case. However, the good news is th

If You Leave Your Bank Account in the Negative, What Will Happen?

When your leave your deposit account negative your bank can impose fees, freeze the account and eventually close your account. Bank accounts that are closed with negative balances are often reported to credit agencies and show up on your credit report as unpaid debts. These accounts negatively impac

Rules For Personal Bankruptcy

Given the struggles in today's economy, it is understandable if you do not wish to burden friends and family with your financial problems. When you are barely making ends meet and unable to pay certain bills to satisfy others, there comes a sense of shame that you would rather not expose. Filin

The Process of Filing a Bankruptcy Petition

When an individual is no longer in a position to pay debts and a repayment plan has failed to work, they may be forced to file a bankruptcy petition which allows the court to protect the debtor from the creditors harassment. Before the debtor can file, they are required to get themselves an attorney

What to Avoid Before Filing Bankruptcy

Although bankruptcy is theoretically a snapshot of your financial situation at one point in time, the things you do before you file bankruptcy can affect how your case turns out. Certain payments you make or charges you incur can work against you, to the point where the bankruptcy court could possib

Chapter 7 Bankruptcy - Am I a Bad Person For Filing Bankruptcy?

One of the most common questions and concerns when it comes to filing for chapter 7 bankruptcy is that most people are worried that they are going to be labeled as deadbeats, immoral bad persons. Look, nothing could be further from the truth. The fact of the matter is that 1 in every 70 Americans or

How to Find Out What Debts You Owe

Every American has a personal record of the debts they owe. If you want to find out which specific debts you owe, you can easily pull your own credit report for free and check it out. Credit reports detail all of your revolving credit, loan history, payment history and outstanding debt. This can be

IVA Specialists Can Help You Get Your Life Back Together

Legal expertise and knowledge is more than needed to manage the legal and financial proceedings that are involved within IVAs. IVA specialists are the only individuals who are allowed and are capable of successfully handling an Individual Voluntary Agreement plan in your best interests.

Hiring a Bankruptcy Attorney in Sacramento

In America, the number of people getting trapped under debt has increased significantly. Recession was considered, as one major reason for this upset. The US economy before 2009's recession was considered to be the soundest ...

What to Do When Your Job Won't Pay You?

It's bad enough that you worked hard all week and may have had to deal with annoying co-workers -- now you're having problems getting paid. Well that's simply unacceptable --- the law requires employers to pay employees for work completed. If you find yourself in this situation, take action immediat

Bankruptcy Does Not Mean You Dont Have Any Money

As an experienced bankruptcy lawyer in Nashville, Tennessee, Ron Nevin says that filing for bankruptcy is about seeking relief from excessive debt, not about whether or not you have any money. Here, Nevin explains the differences between Chapter 7 and Chapter 13 bankruptcies and what you can expect

Communicating With Creditors and Credit Bureaus

Let's talk straight about credit for a few minutes. Everyone's needs a little help now and again. The important thing is figuring out how to resolve trouble before it becomes an issue.