New Federal Bankruptcy Laws
The Federal Bankruptcy Laws have undergone certain changes recently. The new Federal Bankruptcy laws have set stringent norms for debtor who plan to file for bankruptcy. Sometimes understanding these rules are a bit difficult. So any person who wants to file for bankruptcy needs to hire someone who can guide debtors intending to apply for [...]
What is Personal Bankruptcy?
Personal bankruptcy can provide great relief to people facing financial problems. Prior to filing for bankruptcy, a debtor should understand the complete procedure of filing for bankruptcy. A debtor should also assess his financial condition before deciding whether Chapter 7 or Chapter 13 bankruptcy will be suitable for him. He should know the cost of [...]
What is Ritz Camera bankruptcy?
Ritz Camera Centers Inc, highly skilled in imaging and photography is the largest camera store chain in United States. Ritz took refuge in Chapter 11 bankruptcy in February, 2009 to reorganize its business operations. Ritz operates under different names like Ritz Camera, Inkley’s, Wolf Camera, Kits Camera, The Camera Shops. In addition to the camera [...]
What is Medical Bankruptcy?
The incidence of medical bankruptcy has increased over the last couple of years and in some places, it is up by 300%. You are referred to as a “medically distressed” debtor in bankruptcy if you have spent 25% or more of your annual income on medical expenses that are not reimbursed. You are also said [...]
What is bankruptcy marketing?
Bankruptcy marketing is the process by which information about consumers who have filed bankruptcy is gathered. Once you file bankruptcy, your chances of getting fresh credit as per favorable terms are greatly diminished. This is because when you file bankruptcy, your credit score is affected badly. However, you may need cash before you can repair [...]
Bankruptcy and marriage – Individual filing versus Joint filing
Filing bankruptcy will give you a fresh financially start. And if you file bankruptcy, you will get ample opportunity to repair your credit score. It depends on how quickly you gather your finances. If you are married and if you file bankruptcy either jointly or individually, your finances may be affected differently. The article highlights [...]
Bankruptcy fraud: a white collar crime
Bankruptcy fraud takes several forms and is a white-collar crime. Bankruptcy is a condition when you declare yourself financially insolvent. And you do so legally. Bankruptcy is a federal court proceeding and is designed in such a manner so that you get an opportunity to reorganize your debts or distribute your non-exempt assets equally among [...]
Can I save my home from foreclosure?
Owing to the recession and economic shortfall, every American is finding it difficult to cope up with their financial situation. Almost 98% of the homeowners are on the verge of losing their homes. People are finding it hard to work out a probable solution for their problem. In order to save thousands of homeowners from [...]
Is it possible to file bankruptcy for free?
Filing bankruptcy is expensive and it cannot be filed for free. Under the new federal bankruptcy laws, credit counseling has been made mandatory. You are required to take credit counseling session at least 180 days prior to filing bankruptcy. And these classes are not free. You have to shell out approximately USD$60 for a class. [...]
Facts about GM bankruptcy
General Motors sought bankruptcy protection and filed Chapter 11 bankruptcy on June 1st 2009. GM’s filing bankruptcy followed on close heels of another auto giant Chrysler filing bankruptcy. GM is trying to emerge as a new company by filing bankruptcy. Reports suggest that this is probably the 4th largest bankruptcy filing in the history of [...]
