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.
Interviewing The Online Bankruptcy Lawyer
June 28, 2010 By
When it comes to choosing the best online bankruptcy lawyer, there are several things that you need to take into your careful consideration.
New Bankruptcy Laws
June 28, 2010 By
New bankruptcy laws are the laws that are added to the bankruptcy code of United States of America from time to time, in an effort to stop people from trying to cheat the system. However, if there is a genuine bankruptcy case where the debtor is unable to make payments for the debts they owe, the new bankruptcy laws do not make the path harder for them to get the much-desired debt relief. The new laws in fact make the path harder for those who want to take undue advantage of the bankruptcy coverage.
Filing Bankruptcy
June 27, 2010 By
Whether you are an individual or an organization, if you know that the debts you owe are far more than the means and assets available to you and you may not be able to pay the debts, one of the last options that you have is to file for a bankruptcy petition. However, it is not recommended to consider filing bankruptcy as an easy option to get rid of the burdensome debts. You should keep in mind that bankruptcy usually has far reaching financially negative impacts and it may eventually make the financial path a hard cake for you. You may have to struggle hard to put your finances back on track with substantially damaged credit ratings. In most cases, it will keep your financial life highly disturbed for the next ten years at least. This way, we can say that bankruptcy is an option to go for when no other alternative options are feasible for you.
Is Filing Bankruptcy Right For You?
June 27, 2010 By
Filing bankruptcy is considered by many as a great way to get debt relief. However, it is important for you to understand that filing bankruptcy is not an option but the last thing that you are forced to do. Nobody likes to file for bankruptcy just because they wanted to. When an individual or business lose control over their finances don’t have the available means and assets to pay off the debt, do they start thinking about filing bankruptcy. This is done so that the debts of the creditors could be paid off and they could get the much desired debt relief and the eventual peace of mind. This article must not be treated as a legal advice, but the following information will help you understand your financial situation better, so that you could decide whether filing bankruptcy in the current situation is the right thing for you.