Dealing With Debt Or Bankruptcy
With consumer debt at an all time high, owing a debt can seem very overwhelming. A lot of people have looked into the internet and have seen advertisements claiming debt relief as a quick fix. Alluring as these ads may seem, it is important to be on the lookout for the validity of the claim.
Bankruptcy: Automatic Stay And How It Protects You From Creditors
U.S. Bankruptcy Code imposes something called an automatic stay the moment that a petition for bankruptcy is filed. The automatic stay will typically prevent the enforcement, commencement, or appeal of actions and judgments against a debtor from the creditors they owe money to who are trying to collect these debts incurred prior to the bankruptcy petition. The automatic stay also protects property of the bankruptcy estate itself from collection actions and proceedings.
Are You Filing For Bankruptcy? A List Of DONT’S Pt. 2
Don’t pay back family members. The thing is that they can not be treated any differently than other creditors. As far as the law is concerned, relatives have the same legal status as every creditor that you owe. Therefore, relatives can not be treated differently than all of the other places. I know that stinks, but it’s the law.
Bankruptcy – A Brief Explanation And A List Of DONT’S Part 1
Filing for bankruptcy is a no small matter. The most extreme of all financial makeovers, financial analysts continue to warn us that it should be used as a last resort and that bankruptcy shouldn’t be entered into without knowing what you are doing.