Tagged: Bankruptcy

Weigh The Pros And Cons Before Declaring Bankruptcy

Weigh The Pros And Cons Before Declaring Bankruptcy Bankruptcy occurs when a process is initiated whereby a debtor obtains court ordered relief from having to pay off his or her debts. It can be of great use in certain cases, but is not advisable for use by everyone that faces financial difficulties. In fact, there is no easy and quick answer to the question of whether to declare bankruptcy or not. It needs discussing with a credit counselor or a bankruptcy attorney who is best able to evaluate the costs as well as benefits of bankruptcy in a person’s individual...

Legal

What To Look For In A Houston Bankruptcy Attorney

What To Look For In A Houston Bankruptcy Attorney A flourishing city, Houston has a number of industries that range from the production of energy to high-tech firms, and is thus one of the biggest commercial hubs in the United States. A large population also makes Houston a home for many that struggle financially, and require the services of a Houston bankruptcy attorney. It makes sense to hire the services of a professional Houston bankruptcy attorney if one decides to file for bankruptcy in a bankruptcy court in Houston. Should Have a License to Practice It is recommended to first...

Legal

Bankruptcy – What You Need To Know Filing

Bankruptcy – What You Need To Know Filing When there’s no other way for the business to remain afloat, then you can consider filing for bankruptcy. It’s identifised as starting new while you settle all your obligations by legal means. You can avail of four forms of bankruptcy. Each of these bankruptcy laws has been taken from the bankruptcy code, and they possess particular parameters that must be fulfilled for the debt to be considered ended. Debt repayment (chapter 13), family farmer or fisherman (chapter 12), reorganization (chapter 11), as well as liquidation (chapter 7) are the fundamental kinds of...

Legal

Debt Consolidation Refinance Advice: Chapter 13 Bankruptcy versus Ch. 7 BK

Debt Consolidation Refinance Advice: Chapter 13 Bankruptcy versus Ch. 7 BK Under the old bankruptcy laws, most debtors chose between a liquidation proceeding under Chapter 7 of the Bankruptcy Code and a wage-earner repayment plan under Chapter 13. Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), new bankruptcy law, a two-part means (income) test now determines if your are eligible for Chapter 7 or must file under Chapter 13 for relief. And, because the new law imposes stricter requirements on lawyers, it’s harder to find an attorney to represent you in a bankruptcy case. The new...

Legal

Bankruptcy Lawyer Dirty Secrets

Bankruptcy Lawyer Dirty Secrets The field of bankruptcy law has exploded in recent years, even though the process of filing for bankruptcy really only involves filling out a few forms. Misconceptions, frightening news articles, and misleading advertisements put out by many of the firms now specializing solely in bankruptcy law have convinced the average consumer that they absolutely must hire an expensive attorney in order to get rid of the money they owe. Even if the client has an above-average number of questions or a combination of income, debt, and assets that are more complicated than most, an experienced lawyer...

Legal

Dealing With Corporate Bankruptcy

Dealing With Corporate Bankruptcy When you don’t have the money to pay your bills, and you feel as though you are in way over your head, you might have to deal with unfortunate process of bankruptcy. Going through corporate bankruptcy is a hard process as well, because your business is involved with the financial difficulties. However, the good news is that there are some steps that you can take to get through the process with minimal damage to your financial health and to the health of your estate. Digging out from Under the Paperwork One of the most challenging parts...

Legal

Advice when Choosing a Bankruptcy Lawyer

Advice when Choosing a Bankruptcy Lawyer 1. First and foremost, ask yourself, “Do I even need a bankruptcy lawyer to file my case?” If your case is fairly straightforward, then chances are you can get a bankruptcy petition preparer to file your case for much less than the cost of hiring a lawyer. Despite popular conception, bankruptcy law is not very complicated, so hiring an expert most of the times does not make sense. The real question then becomes, “How complicated is my case?” In short, if a) you have 100 percent unsecured debt (credit cards, medical bills, personal loans,...

Legal

Which Is Worse–Debt Settlement Consolidation or Bankruptcy?

Which Is Worse–Debt Settlement Consolidation or Bankruptcy? Many lawyers will take loads of cases, leading their clients into bankruptcy, rather than helping them to find a solution. The lawyers are paid large amounts for their work; therefore, they are out to make a buck in most instances. Now, if you are in debt and need help, you should make a visit to the attorney’s office as your lost resort. There are a number of solutions for settling your debts, including debt management, debt consolidation, debt negotiation, and even do-it-yourself strategies. In other words, if you want to cutback, find ways...

Legal

What Is A Bankruptcy Firm?

What Is A Bankruptcy Firm? Filing for bankruptcy is a scary and challenging thing. There are many laws that you must follow exactly in order to correctly file your bankruptcy, not to mention understanding each of the separate types of bankruptcy you can file. For someone that does not have any experience with filing legal documents it can be daunting to file these types of paper work. If these bankruptcy papers are not filed correctly, it can end up being a bigger problem then the one that led to the need for a bankruptcy to begin with. If time is...

Legal

Legal Help: Iowa Bankruptcy Lawyer

Legal Aid: Iowa Bankruptcy Legal representative In Iowa as well as in other states there are legal representatives specialized in bankruptcy. Sadly bankruptcy is the only solution for lots of people. After having a hard time for months, perhaps years and after trying all other less radical options of their financial obligation problems, they have to throw in the towel and simply accept the plain and harsh fact: I’m bankrupt. However this does not suggest that life is over; not. And it is excellent to know that assistance is readily available out there. Just as you would never operate on...

Tagged: Bankruptcy

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