The Flip Side of the New Bankruptcy Law

Congress passed and the president signed legislation earlier this year that made filing for personal bankruptcy a much more difficult proposition. At the urging of the financial industry – particularly credit card providers and banks – the new legislation was drafted and approved setting the stage for stricter requirements governing personal bankruptcy. There is a flip side to the new law, one that is actually hurting creditors more than they ever expected; please chuckle with me as you learn just what that other side is.

Debt Settlement Vs Bankruptcy

With today's economic difficulties, consumer debt is at an all-time high. As American's continue to struggle with debt, record numbers of consumers—nearly 1.6 million in 2003—are filing for bankruptcy.

Bankruptcy Credit Counseling Under The New Bankruptcy Law

Bankruptcy credit counseling is a requirement of the new bankruptcy law effective October 17, 2005. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires court approved bankruptcy credit counseling to be completed by debtors prior to filing for bankruptcy within the 180 days immediately preceding the filing of a bankruptcy petition.

GM Bankruptcy?

If General Motors were to file bankruptcy, it could change the world or would it? Yes a GM bankruptcy filing would change the world. Right now with all the over regulation it is amazing that any company can make money these days. I guarantee such a move would change the world.

The Facts About Personal Bankruptcy

The thought of personal bankruptcy is very frightening, however bankruptcy laws give an honest debtor a fresh start in life by relieving the debtor of most debts.

New Bankruptcy Law - A Summary of Changes You Should Know About

The new bankruptcy law, which took effect on October 17, 2005 might prove to be a stumbling block for many Americans hoping to file Chapter 7 bankruptcy as a means to erase their debts.

When Filing for Bankruptcy isn't the Answer

If you're hopelessly buried in debt filing for bankruptcy may not be of much help. Find out why right here.

New Bankruptcy Law Restrictions Lifted for Scores of Hurricane Victims

Victims of both Hurricane Katrina and Hurricane Rita may now file for bankruptcy without many of the filing requirements facing most debtors today. Find out what restrictions have been lifted for the survivors here.

Filing Bankruptcy Online

In today's world of technology, people can file for bankruptcy online. The court has a federal database called PACER that can be accessed online by paying a fee.

Filing Chapter 7 Bankruptcy

When someone has high debt and no other feasible financial mode of repayment, they may need a fresh start in form of a bankruptcy. People file for Chapter 7 bankruptcy more often than any other type of bankruptcy, and it accounts for almost 65% of all consumer bankruptcy filings.

Filing Corporate Bankruptcy

There are many questions raised when a company files for corporate bankruptcy. As an investor, people would like to what happens to the company, who would look into the interests of investors, and above all, if the old securities have any value left, or is the stock is turned into paste paper until the company is reorganized.

Low Cost Bankruptcy Filings

By and large, one would notice that when someone files for Chapter 7 bankruptcy they would make a payment of about $450 in attorney fees, where people who file Chapter 13 have to pay more. These cases are in general more costly, the attorney’s fee begins at $750 for representation through completion of the plan.

Business Bankruptcy Laws

Businesses, companies, and firms can file for bankruptcy if they are on the verge of failing all their creditors and losing their position in the market. The laws that deal with such cases are federal bankruptcy laws or Chapter 11 and Chapter 13 laws.

Personal Loan After Bankruptcy: Can You Qualify?

Articles discusses four key areas that determine whether or not an individual can qualify for a personal loan after bankruptcy.

Rebuilding Your Life After Bankruptcy; Don't Cave to Holiday Pressures!

There's something about shopping during the holidays as I watch consumers being attacked by exuberant cashiers pushing their store's credit card that gets me concerned for those trying to build a solid life after bankruptcy.