Jun
18
Survive Bankruptcy
Filed Under Finance | Leave a Comment
If you are headed down the road to bankruptcy, then you have probably run into several people or companies that claim that they can help you out of your woes. And a lot of times these things sound too good to be true. Of course when things sound too good to be true, it is often because they are too good to be true.
The first one I encountered was credit counseling. It sounds so nice, doesn’t it? I pictured going into their office, laying on a psychiatric couch and blaming everything on my parents. But when I got there, it was nothing like that. In fact, these people start out by trying to charge you money. Well my lack of money is what got me there in the first place!
So then I checked into debt consolidation. In a nutshell, they take all of you current debts and combine them all into one big pile of new debt. The problem is that the amount of debt doesn’t change though. So it really fixed nothing.
There was one company that did help though. They actually renegotiated my debts. I went from owing over $17,000 to owing less than $7,000. These companies do really exist, but they can be hard to find because debt consolidation companies and credit counseling companies mislead people into thinking that is what they do.
May
11
My Bankruptcy Tip
Filed Under Helpful Info | 5 Comments
Well this seems like a pretty darn safe venue for me to share my thoughts about what happened to me when I had to declare bankruptcy a few years ago. After all, this is a very anonymous venue. It’s not like I want all of my friends, or especially my coworkers to know that I declared bankruptcy. After all, it is embarrassing. I wouldn’t want anyone to think less of me because I had a financial meltdown that resulted in financial failure. It doesn’t mean that I am a failure as a person. And if you are in the same shoes that I was, you are not a failure either. You will survive, just like I did.
The first thing you need to do is keep a positive attitude. It is normal to feel depressed during this tough time. But don’t let depression consume you. Life goes on. Instead of looking at the negatives, look at the positive side of things: you are kind of getting a “get out of jail free” card here. Once discharged, you get to start with a clean slate.
And nobody really needs to know either. You don’t need to tell your boss. You don’t need to tell your mom. People can’t judge you if they don’t know! It can be your little secret. And here’s a big surprise for you to: a lot of people are keeping bankruptcies a secret! Like I said, you will survive!
Apr
14
You Will Survive Bankruptcy
Filed Under Personal Finance | 3 Comments
If you are in a position where you think you need to file for bankruptcy, then you are truly at the end of your proverbial rope. You have already come to the conclusion that you basically owe more than you are worth. It’s a horrible situation to be in. People often experience feelings of shame, worthlessness and of course depression when going through a bankruptcy. But the fact is that declaring bankruptcy is not the end of the world. Here are some bankruptcy facts that just might help you feel a little better about the whole situation.
The bottom line is that creditors can not take what you do not have. Like the old saying goes: you can’t squeeze blood from a turnip. And that’s not all either. In most cases you can not be thrown in jail because you owe someone money. In fact, you don’t have to take any harassment from debt collectors, creditors or collection agencies. You don’t even have to deal with the stress of talking to these people, so don’t!
Unless you make more that $320 net pay (not gross pay) per week, your wages can not be garnished. So you are not going to be thrown out on the street, and you are not going to starve. Bankruptcy is a bad situation, but you will survive. In fact many people find that it is the fresh start that they needed once it is all said and done.
Mar
15
The Best Way To Survive A Bankruptcy
Filed Under Advice | 3 Comments
Bankruptcy is a very serious last resort. The best way to avoid the long term ramifications of filing for bankruptcy is simple: Don’t file for bankruptcy! Of course for some people it is already too late. Bankruptcy is always a last resort, but that is all that it ever will be. The best thing you can do is follow some simple tips and get yourself out of the hole before it is too late.
First of all, just stop using your credit cards. Is it that hard? No, it is not. The idea here is that you should not be spending money that you don’t have. Isn’t that kind of what got you in this position in the first place? Cut those little demons in half. Or better yet, send those plastic devils right through a paper shredder!
Once you have gotten rid of those pesky credit cards, formulate a budget. No, it is not that hard to do. Start by putting a pencil to paper and writing down your monthly expenses that you can’t get rid of. Write down everything such as your rent or mortgage, electric bill, car payment, water bill, groceries, cable bill and everything else you can come up with. Then go back and add the incidentals like clothing, car repairs or maintenance, gas and anything else you can come up with. You see, it is not that hard to get a handle on things. And that could keep you from having to file bankruptcy.
Feb
19
Two Things To Do After Your BK Is Discharged
Filed Under Advice | 2 Comments
The best thing that you can do to recover from a bankruptcy is to never file for bankruptcy in the first place. Bankruptcy should never be considered and easy way out. Instead, it should be absolutely the last possible option for anyone. With the recent changes in federal laws, declaring bankruptcy is more difficult now than it ever has been before in an effort to deter bankruptcy abuse. However, sometimes there is no other option than to file. So once your bankruptcy has been discharged, what can you do to get your life, and credit back to normal?
There are a couple of basic and easy things that you should do. The first thing you want to do is open a checking and savings account. You need to have some money in the bank. Also, if your cash is not in your wallet or purse, you will be less apt to spend it. Future lenders will need proof that you can now handle your money in a responsible way. A checking and savings account can prove just that. Once you have had these accounts for a short time, get a credit card if you can. Don’t go crazy with it though! Use it a few times each month, and then pay off the balance in full. Do not run it up! These two simple tips will get your credit score to start rising, and before you know it you will be back up on your feet.
Jan
28
You Can Get Credit After Bankruptcy
Filed Under Credit | 6 Comments
My sister had to claim bankruptcy a few years ago after her business failed. I thought that meant that she couldn’t get any credit for 7-10 years but I guess that’s not the case.
Apparently you can get secured credit cards where you basically give the credit card company money to “deposit” and then charge against that amount. That’s a pretty good deal if you ask me. It allows you to establish credit without a risk to creditors. I think it’s a fabulous idea!
She’s now on her way back from her business failure. I think she’ll be just fine!
Jan
26
The Gift That Keeps Giving
Filed Under Credit | 3 Comments
After a really ugly divorce a few years ago, I had to claim bankruptcy. Apparently ex-hubby racked up a bunch of debt unbeknownst to me, and wham! I am in debt up to my ears with no escape.
So I tried the usual route of negotiating with creditors, but it’s like negotiating with a terrorist. They want all their money and they want it now. Well, if it was that simple, I would have done it, now wouldn’t I? So I went to speak with a credit counselor and they said BK: you have no choice.
So it’s been three years and though I’m rebuilding credit slowly, bankruptcy is definitely the gift that keeps giving. Want to buy a house? Not so easy. Want to apply for a job? Explain your bankruptcy. I’ll be living with this a long time.
Dec
30
Basic Information on Bankruptcy
Filed Under Finance | 2 Comments
Today more and more people to store a duty of protection and assistance under the law. With the current trend to increased bankruptcy filings, it is important to have a common understanding of some general facts relating to the decision to file for bankruptcy. First, since the bankruptcy filings that does not mean end of the financial world for the individual. The failure is so that means the borrower to suspend the activities and tactics of accumulation prosecuted for the defendant. Once you have formally filed for bankruptcy, the court will award the automatic suspension order against debt collectors and their agents. The order to stay concludes that the various agencies to recover debts from further attempts to collect money from the debtor while the case before the court and until the court had not defined the concept of failure. Creditors, however, may make a petition the court for relief from the stay. If such assistance is given to providers will gather them on any secured debt that the individual has written over them. Thus, the providers can get all the money or property of the debtor. Because of these types of complexity, the debtor must work in close contact with his lawyer regarding the details of the payment of arrears for the entire bankruptcy procedure. Knows just how small these facts bankruptcy, said that you should be careful about the appointment of your property as loan companies loan debt itself. Another point to remember is that the failure has a right to withdraw from bankruptcy e. That is, once you are satisfied with the terms of your bankruptcy and paid what was asked of you, you will be discharged from further payments. Once you have been discharged from bankruptcy from creditors earlier no longer complaints have some debt against you. This does not mean that any future debt met after unloading can be achieved by creditors. In many cases, if filed for bankruptcy protection, the court will ask that all goods are not important turn in cash and be cosegnata is the administrator of bankruptcy. The court then appointed a separate control that you will take your party to the bankruptcy, described in court and paid to your assigned duties. Once your goods are cleared to throw (agreeable to the cash), it will distribute among the creditors. There is of course a full set of facts and law that may be in effect during any kind of action plan. That is why those who are considering filing for bankruptcy should do so only after consultation with a lawyer and an acknowledgment of failure of all relevant facts. If you're looking for more information on personal bankruptcy, bankruptcybest.info or any other edition on bankruptcy please visit this connects.
Dec
23
What happens when a credit company “writes off” your debt? What if you filed for bankruptcy?
Filed Under Credit | 4 Comments
Written By: crimsonsky_bleedingheart
About the guy/gal that wrote this:
Dec
16
What is the bankruptcy court admissibility of a credit application if there is no date on the application?
Filed Under Credit | Leave a Comment
The amount stated however there is no date on the application has an overstatement of assets of the application can it be thrown out.
The application has an overstatement of the application can it be thrown out.
My credit application can it be thrown out.
The amount stated however there is no fraud intended and do have to file bankruptcy and do have to file bankruptcy and do have to file bankruptcy and do have to file bankruptcy and my credit application has an overstatement of.