By contrast, filing forpersonalbankruptcy is a different matter. On the absolute, most basic level, people file for bankruptcy when their debts far exceed their liquid assets.That might happenas a result of being unemployed,having incurred massive medical debtor taken on a lot of consumer debt,...
What Will Happen to Your Home and Car When You File Bankruptcy? Planning Your Bankruptcy When You Have a Mortgage or Auto Loan If you are consideringfiling bankruptcy, you may be wondering what will happen to your home and car when you file. At Jamie L. Gingold, PC, GingoldBankruptcy...
The Debtor Education Course requirement has to be fulfilledafteryou file your bankruptcy caseand beforeyour debts can be discharged, as opposed to the bankruptcy counseling course, which must happen within 6 months of filing for bankruptcy. While the bankruptcy counseling course examines your situation...
Filing for bankruptcy may not necessarily get rid of the lien or your tax bill. The IRS may send your account to a private collection agency. The IRS will send you a notice should that happen, and it will give you the collection agency’s contact information [4]. » MORE: Learn ...
Collections happen when you’ve failed to make a certain number of payments, and your issuer or lender sends your account to a collections agency to collect your debt. If you face debt collections, this could appear on your credit report and last for up to 7 years. You’ll still be on...
Keeping checking and savings accounts at a bank that is well known for freezing the accounts of those who file for bankruptcy. Wells Fargo is the best example of such a bank, and while this is a gray area in bankruptcy law, at present it could still happen. Even if you owe no money ...
, driving without car insurance is against the law in Texas. If you are involved in an accident and do not have insurance coverage, you may be held responsible for paying for damages and injuries out of your own pocket. This can lead to financial difficulties and potentially even bankruptcy....
And the longer it takes for you to pay that bill, the worse the effects may be. That's why it's important to keep up with credit card payments. Of course, emergencies and unforeseen crises happen, which can leave you without enough money to meet your credit card's minimum paymen...
The article deals with the events that consumers could expect in relation to the Chapter 11 bankruptcy protection filing of AMR Corp. in November 2011 such as the losses to be incurred by the firm and the use of frequent-flier miles benefits of loyal clients.Wall Street Journal - Eastern ...
But by this sleight-of-hand, the public takes on more risk. Much of the money we originally gave Wall Street took the form of senior debt. We were preferred creditors, meaning that in the event of bankruptcy (or some form of it) we’d get repaid first. But as shareholders, we’d ...