People often tend to manage their debts by transferring their balances from the current credit card accounts to a new one, that is offering a reduced introductory low rate of interest. But additional credit cards are never an answer to manage the debts, rather they exacerbate the problem. Sometimes people do not close their existing [...]
Archive for the 'Bankruptcy' Category
Under chapter 13 bankruptcy the court appointed trustee formulates a repayment plan for the debtor to pay off the debt. But you are eligible to file chapter 13 bankruptcy if you have stable income so that you can pay off your debt within a span of 5 years.
Know about the pre-filing requirement for chapter 13 [...]
Once a taxpayer files for bankruptcy protection, the bankruptcy court collects the tax debt instead of the Internal Revenue Service. According to the law of bankruptcy if you have filed the tax debt it would vary depending upon the Bankruptcy code in U.S. The bankruptcy judge would decide whether the tax debt would either be [...]
What is Bankruptcy?
A petition is filed which would state that the debtor won’t be able to pay the debts that is owed by him. A court procedure is involved before filing for bankruptcy. The debtor gets a debt relief but he has to pay for an easy get away as its after effect is [...]
Welcome to the world of bankruptcy- a nameless, faceless and sudden grief that attacks a person anytime and flew away with all his dreams for his future. But, getting bankrupt is no much more a scenario that cannot be overcome. All it demands is preserving the cool and planning to obtain via the harder time [...]
In the past, people had many options under the bankruptcy laws to protect them if they got over their heads into debt. The new bankruptcy law changed all that. Even the relatively simple prospect of buying a car after bankruptcy proceedings has changed.
How long will it take to be through with your bankruptcy case? Experienced attorney Catherine Christiansen, from the Christiansen Law Office in Long Beach, California, explains the basics of what people need to know.