If you’ve decided to file for bankruptcy, your first step should be to consult an attorney. While it is possible to file without one, a qualified attorney is often important because bankruptcy has long-term financial and legal consequences. Your attorney can advise you on which type of bankr...
Basically, once a company files under any type of bankruptcy protection, your rights as an investor change to reflect the bankruptcy status of the company. While some companies do indeed make successful comebacks after undergoing restructuring, many others don't. And if your stake in the pre-Cha...
Should I File for Bankruptcy? If you're struggling to afford your student loan payment each month, you should first contact your loan servicer and ask about repayment plans and other options to keep your loans in good standing. Loan servicers handle the account management of your student loans...
Bankruptcy filing will stay on your credit score for years, which can hinder your ability to obtain a credit card, loan, or mortgage in the future. For this reason, we always recommend consulting an experienced attorney before choosing to file for bankruptcy. The type of bankruptcy you choose ...
Discovering what debts the court can and cannot wipe out when you file for bankruptcy may surprise you. Read on to find out how this would affect you.
Bankruptcy: Filing bankruptcy might stop the process, at least temporarily.789 Negotiation: Any agreement you reach with your creditors can stop the process. It may be worth trying to negotiate so you can take some control over the situation. For example, the Internal Revenue Service (IRS) may...
Bankruptcy Declaring bankruptcy is never fun, but it may be preferable to debt settlement in some cases. You might be able to remove most of your outstanding unsecured debt and the process typically takes a few months. When compared to the years debt settlement can require, bankruptcy can somet...
Bankruptcy: Determining asset liquidation and exemption rules. Calculating net worth for fun: Understanding personal financial status for personal growth or curiosity. Retirement planning: Evaluating future needs and resources to ensure a secure retirement. Summing It Up Regardless of the scenario, de...
If a consumer decides to pursue debt consolidation, credit counseling or bankruptcy, what should they look for in the companies and professionals they hire to help them? What are some red flags vs. signs of trustworthiness and effectiveness?
In some situations, people may look at debt as a way to make money. Distressed debt refers to bonds being sold by companies either inbankruptcyor near to it. Earle says these bonds may pay as much as 10% more than other corporate bonds. ...