It is very important that you know about bankruptcy laws, if you are in debt. Certain legal provisions are very helpful in making a fresh start. You can opt for a repayment plan to pay off your creditors or you could liquidate some of your assets in order to clear dues.
Bankruptcy Laws
July 20, 2010 By
When a person cannot pay the debts, he/she can use bankruptcy as an option, as per which the court makes certain arrangements in order to protect the interests of both the debtor as well as the creditors. Where debtors get an opportunity to get rid of the mounting debt problems, creditors get their money back. However, this is not an easy option at all. It should be better considered as a last option rather than an easy option. When nothing else works, you can use this method to get out of the debt trap.
Student Loans In Bankruptcy
June 28, 2010 By
When bankruptcy is granted to a debtor, certain debts are dischargeable while certain other types of debts are non-dischargeable. The non-dischargeable debts are the debts are not completely eliminated even after granting bankruptcy to a debtor. They are supposed to pay off the same. Student loans in bankruptcy are the non-dischargeable debts.
Steps In filing Bankruptcy
June 28, 2010 By
If you are planning to file court petition for bankruptcy, there are certain steps in filing bankruptcy that you must be thoroughly aware of.
Personal Bankruptcy
June 28, 2010 By
Personal bankruptcy is the most common form of bankruptcy. The bankruptcy laws in the bankruptcy code have provided various provisions for personal bankruptcy. In this competitive world, things move very fast, therefore, in an attempt to meet the standard of living set by the society, many people fall in the cruel trap of various kinds of debts. If you are not very careful in handling your financial matters, these debts may put you in a deep financial trouble and sometimes, things may just go out of your control. There might be a situation when the debts you owe to the various creditors are much higher than the assets you own and the means of income you have. This is the time when you would probably like to give your financial life a fresh start by closing the old chapters. Here, you will have to take the help of various chapters as described in the bankruptcy code. Let’s go exploring the various options that the bankruptcy code provides you.
Personal Bankruptcy
June 28, 2010 By
With the growing trend of taking various kinds of loans to meet the needs of high standard living, more and more people in America now have trapped themselves into the nasty pile of various kinds of debts. Sometimes, the debts become so high that they start controlling you instead of you controlling them. This is where personal bankruptcy emerges as the only solution that can bring you the much-desired relief from the heavy burden of debts.