New Bankruptcy Law Makes it Harder to Stop Foreclosure

After October 17 2005, bankruptcy will no longer be an effective tool to stop foreclosure sales on homes. Consumers must educate themselves on other foreclosure prevention strategies and principles to protect homes.

What is Bankruptcy?

Bankruptcy is the last place a person in serious debt can turn. This is where you end up when you have exhausted all of your other options when trying to pay off the debts that you owe.

Bankruptcy and Buying a Home - 3 Benefits to Buying a Home After Bankruptcy

Here are some benefits to buying a home after a recent bankruptcy.

Bankruptcy: What's the Difference Between Chapter 7 and Chapter 13?

When consumers contemplate the option of bankruptcy generally, the remedy they are specifically referring to is chapter 7 bankruptcy. The effect of the filing is to discharge someone saddled with debt from having to pay debts no longer secured with a valid lien.

The Facts About Personal Bankruptcy

The thought of personal bankruptcy is very frightening, however bankruptcy laws give an honest debtor a fresh start in life by relieving the debtor of most debts.

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 - 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.

Bankruptcy? Don't Get Messy With It

The bottom line is, don't jump into this mess called bankruptcy, until you have convinced yourself it is the only option left.

How To Obtain Mortgage After Bankruptcy

Most people probably assume that obtaining a mortgage after a bankruptcy is out of the question. In fact, many people are able to obtain these mortgage services. Even if you made the mistake of shoring up too much debt and were not able to cope with it at one point in your life, there are still people willing to make money off you by extending a mortgage loan.

Filing Bankruptcy

People who have more debt than they can pay off may be in a dire situation, but they do have some options available. It is advisable to speak with a lawyer in these situations who can explain whether or not filing for bankruptcy is the best option.

Filing Chapter 7 Bankruptcy

When someone has high debt and no other feasible financial mode of repayment, they may need a fresh start in form of a bankruptcy. People file for Chapter 7 bankruptcy more often than any other type of bankruptcy, and it accounts for almost 65% of all consumer bankruptcy filings.

Low Cost Bankruptcy Filings

By and large, one would notice that when someone files for Chapter 7 bankruptcy they would make a payment of about $450 in attorney fees, where people who file Chapter 13 have to pay more. These cases are in general more costly, the attorney’s fee begins at $750 for representation through completion of the plan.

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.