Reasons for Filing Chapter 13 Bankruptcy Chapter 13 bankruptcy helps reorganize debt obligations by creating a repayment plan that is completed within 3 to 5 years. The debtor makes payments on the plan based on their eligibility and income. Sometimes Chapter 7 bankruptcy is sought first by the debtor, only to find out they qualify [...]
A new AP poll has been conducted on the American youth who suffer from being unemployed and finding it very hard to get a new job. It is found out that in 18 to 24 year old high school graduates, around 40 percent of them have a stable job right now but 75 percent of [...]
The cost cutting of multiple companies due to the economic complexities lead to thousands of Americans being laid off from their jobs. Tips for the unemployed to help get through this rough period: Company Instead of being all negative on your forthcoming layoff, be professional and ask your company if there are programs they can [...]
Credit card debt is the most common form of debt that is unsecured. This means that if you default on payments or choose not to repay what is owed, the credit card company has a right to sue. Depending on what is owed on the account, a lien may be placed against property or you [...]
Divorce can be a challenging time for everyone but the judge often works to make the best decision for all parties involved. While it's true one may not be happy with what is decided by the judge, the judge may see things in a point of view that sometimes is misunderstood by one or the [...]
When the foreclosure crisis first came to light the government attempted to provide relief to struggling homeowners. The programs designed to bail people out, HAMP, HARP and Hope for Homeowners have helped some people but in large they have failed. The outcome of the housing crisis is that more homeowners in America are losing their [...]
CBS News recently aired a report that reviewed loan modification scams and the increase in activity by con-artists. Many homeowners have been hurt by changes in the economy with over 1 million homeowners experiencing foreclosure. The report mentioned that more than 10 million homes in the United States may be considered underwater properties; homes in which homeowners [...]
What You Should Know about Tax Liens A tax lien is placed by the Internal Revenue Service (IRS) when taxes have not been paid. Basically, it's a claim from the government on your property and once it is issued, it can attach to just about anything you own. When the IRS places a tax lien [...]
Identity Theft and BankruptcyAre You a Victim of Identity Theft?It's a sad but true story - and if you've recently been a victim of identity theft yourself, then you'll recognize your own story here:Amy was a bit shocked when she received a letter in the mail verifying her son's application for his third credit card. [...]
How to Handle Judgments In Bankruptcy While filing bankruptcy stops a judgment from being enforced, judgments can transform unsecured debts into secured debts in bankruptcy, giving them priority. Below are a few tips on how debtors should handle judgments when filing bankruptcy: Tackling judgments in bankruptcy is an area where prevention really is better than [...]
