New Bankruptcy Laws

There is a new bankruptcy law that has come forth recently and it will change the way we bankrupt ourselves forever.

Credit Card Debt: Repair After Bankruptcy

Start rebuilding your credit right away. You can even do this while you are in bankruptcy if you simply follow the rules.

Bankruptcy - Look for the Warning Signs

With the new bankruptcy law set to take effect soon, many Americans are wondering if they should file now. Here are a few tips that may help you decide if you are a good candidate for bankruptcy.

Your Credit Report After Bankruptcy-What To Look For

Do you KNOW what is on your credit report? Even if you have just filed bankruptcy it is EXTREMELY important that you KNOW how it is reported on your credit report. It is NOT the credit reporting agencies responsibility to make sure that your credit report is accurate. It is YOURS, and only you can make sure that it is.

Bankruptcy Credit Counseling Under The New Bankruptcy Law

Bankruptcy credit counseling is a requirement of the new bankruptcy law effective October 17, 2005. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires court approved bankruptcy credit counseling to be completed by debtors prior to filing for bankruptcy within the 180 days immediately preceding the filing of a bankruptcy petition.

Bankruptcy Law and How to Get Your Credit Back

Personal Bankruptcy is legal procedures that enables a debtor to for the time being or lastingly avoid paying some of their personal debt unpaid.

Five Steps on How to Find and Choose A Bankruptcy Attorney

If you are like many men and women in the 21st century, you may have found yourself literally drowning in debt. As a result, you may have made the touch decision to file for bankruptcy. In this regard...

New Bankruptcy Law - A Summary of Changes You Should Know About

The new bankruptcy law, which took effect on October 17, 2005 might prove to be a stumbling block for many Americans hoping to file Chapter 7 bankruptcy as a means to erase their debts.

New Bankruptcy Law - Effects on Natural Disaster Victims

The new bankruptcy law imposes restrictions on, who can file for bankruptcy and what documentation is required to complete the process. In the wake of Hurricane Katrina, a special provision has been made for natural disaster victims.

Chapter 13 Bankruptcy: How It Effects Your Home

There is no doubt that filing chapter 13 bankruptcy will effect your mortgage, but the question is what will it do? When you file, it will remain on your credit report for up to ten years.

Filing Personal Bankruptcy

Bankruptcy is a lawful course of action which allows individuals who are unable to reimburse their debt a new beginning. A choice to file for bankruptcy is a decisive step. Debtors should consider all their financial alternatives before they file in for bankruptcy. It is not a small step and it has very strong and lasting consequences. One of the major drawbacks is that it remains in the debtor's credit file for ten years, creating a negative impact for the many years, even after the debt has been dealt with.

Bankruptcy FAQs

As far back as colonial times, every citizen has a constitutional right to file for bankruptcy. By declaring bankruptcy, one is relieved of mandatory collection activities for debts existing at the time of filing by a legal "stay" on these activities. The first version of US bankruptcy or Federal Insolvency laws appeared in 1800, and has been evolving ever since.

Personal Bankruptcy

As mentioned earlier, personal bankruptcy can be filed for under Chapter 7(for almost complete elimination of debts) and the more conditional and restrictive Chapter 13 of the federal bankruptcy code. Basically, the provisions under personal bankruptcy allow a genuinely insolvent individual to wipe the slate clean and make a fresh beginning. If the case is bona fide and the proper procedure is followed, the debtor is guaranteed freedom from financial and mental harassment and by creditors.