Building Your Credit Score After Bankruptcy: What US Legal System Says
Building Your Credit Score After Bankruptcy: What US Legal System Says
BANKRUPTCY.
Bankruptcy is a state when a person or more suitably a debtor becomes unable to pay the amount owed to his creditor and declares himself bankrupt which is completely allowed and a legal one but mostly in welfare states only. A creditor can also be declared a debtor through court after...
WHAT YOU NEED TO KNOW WHEN GOING FOR BANKRUPTCY IN THE U.S.
Declaring Bankruptcy
Bankruptcy or a proper court order may occur at the brink of insolvency when a person becomes unable to pay his bills and fulfill the obligations or pay debt owned by him. Bankruptcy is a legal process and one can file bankruptcy on their own or can be declared bankrupt on the petition of any or all the creditors. After filing for bankruptcy, the person...
Should I File for Bankruptcy To Stop Credit Card Lawsuits
What can a debtor do in the event of a credit card company filing a lawsuit against them? Well, it would be in the best interest of the debtor to take immediate action and file for bankruptcy to stop that lawsuit. The reason is that if the credit card company succeeds in filing a lawsuit against them, the property of the debtor can be put on a lien, making it difficult for...
HOW TO PROTECT YOUR ASSETS DURING BANKRUPTCY: A LOOK AT US LEGAL SYSTEM
HOW TO PROTECT YOUR ASSETS DURING BANKRUPTCY: A LOOK AT US LEGAL SYSTEM
It is an obvious misconception that insolvency requires the loss of all of your assets. One can avail a wide range of exemptions for the protection of their property. When an asset is exempted, it shall be protected from being sold and no payment whatsoever is made to the creditors. The opportunity to...
Can You Stop Foreclosure by Filing for Bankruptcy?
Can You Stop Foreclosure by Filing for Bankruptcy?
You fear a foreclosure and wonder if there is anything in the world to stop it? Luckily, bankruptcy can stop a foreclosure on a home. That means when you initiate a bankruptcy case, all creditors are legally prevented from any collection activities against you. Sadly, there is a taboo associated with bankruptcy that...
When Should A Business Consider Bankruptcy?
Business bankruptcy is one option that has a stigma attached to it. But is it really the last option when your business is seriously faced with a financial crisis? Well, there is no longer the need to fear bankruptcy. In fact, a business in financial distress and debt can use bankruptcy to heave a sigh of relief from the stress buildup without shutting down the business. So...