You may be suffering from debt related stress if you notice that you are experiencing apathy and lack of energy. The feeling that you don't care about your finances, debts or other financial stress is ironically a sign that you may be suffering from debt related stress. You may be suffering from debt related stress [...]
After coming to the end of their financial rope, many debtors facing foreclosure , vehicle repossession and wage garnishments , turn to a bankruptcy attorney in the hope that they can file a "fast" bankruptcy to stop creditors from seizing their assets. Bankruptcy attorneys will often file what is commonly known as an " emergency [...]
Many debtors who plan to get married want to rush and file bankruptcy before the ceremony because they fear that they will end up saddling their future spouse with their debt obligations. The truth of the matter is that marriage alone is not enough to make another person responsible for their spouse's debts incurred before [...]
Debt settlement is becoming very popular now that the recession is stretching into its third year. One of the appealing aspects of the debt settlement pitch is the idea that a debtor can pay only pennies on the dollar for a debt and avoid bankruptcy. But the truth about debt settlement is that it rarely [...]
Business Partners and Bankruptcy As most business owners know, there are inherent risks and rewards in having business partners. However, one of the major risks is that a partner will pull out of a business and neglect to fulfill his/her responsibilities for debt payment. For business owners who have current or former partners who are [...]
According to Texas Rangers' Chapter 11 bankruptcy filing, the MLB baseball team spent lavishly on its employees before the team was forced into bankruptcy when Tom Hicks' Hicks Sports Group defaulted on $524 million in loans. Each of the Texas Rangers' 320 full-time employees gets 120 game ticket vouchers a season. Twenty-two thousand Lexus vehicles [...]
Should You Pay Some of Your Debt Before Filing Bankruptcy? Many debtors considering bankruptcy want to pay off as many of their creditors as possible in the hopes that it will improve their relationship with the creditor or future creditors after their bankruptcy has been discharged. The reality is that most credit issuers such as [...]
Before 2005 Bankruptcy reform, individuals filing Chapter 11 bankruptcy were subject to a rule known as the Absolute Priority Rule which stated that all debtors filing Chapter 11 bankruptcy have to repay all of their debts in full. Specifically, if the shareholders are going to retain any interest in the reorganized company, then they must [...]
While many individual debtors opt for Chapter 11 bankruptcy only when they have exceeded the debt limits imposed on Chapter 13 bankruptcy debtors, there are situations when filing Chapter 11 bankruptcy may be beneficial even if the debtor is well within the debt limits of Chapter 13 bankruptcy. Why a debtor may want to choose [...]
"Millennials," "Echo Boomers," "The Net Generation" and "Generation Y" account for over 50 million Americans many of them in their late twenties and either graduating college or taking their first tentative steps into the working world. For those members of this generation who are entering the working world many have been met with a rude [...]