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Bankruptcy lets you to formally certify that you are unable to repay your debts now, and will not ever be able to. Declaring bankruptcy is a serious thing. For certain folks, there are other avenues to get out of debt, such as debt consolidation or possibly speaking and bargaining with your lenders. But, if bankruptcy […]
Bankruptcy is surrounded by many myths. Some are true, some are not, and some are merely rubbish. People often refrain from filing for bankruptcy when they truly need it just because they are afraid of it. Just like children who are afraid of the dark. Utter fear of the unknown. This article seeks to debunk […]
Introduction“The Credit Crunch” is a term is being mentioned and heard more frequently in the “UK Media”, while Britton spirals into the largest consumer held debt in Europe, solutions are being devised to tackle the problemThe “individual voluntary arrangement” seems to be the solution that everyone is talking about though it is nothing new, in […]
This is a commonly asked question which the aim this article is to explain in further detail to give you a better understanding of how an IVA worksIVA is commonly used as an abbreviation when talking about individual voluntary arrangement you are more likely to have heard it being mentioned more often than its full […]
Individual Voluntary Arrangement AKA An “IVA” is a solution for people experiencing debt problems, when someone is in serious debt, an IVA is a much less severe alternative to the more widely known option of bankruptcyIn most cases it still allows you the ability to keep your house and car. And does not involve having […]
Filing bankruptcy may not be the worst option for you, especially if you are having problems paying off your debt. In some cases, the annoying reminders and notices from your creditors can pose a far greater problem than the fairly simple process of filing a bankruptcy claim. In other cases, hiring an unfit attorney could […]
One of the biggest concerns that people have about filing bankruptcy is the preoccupation with future credit. Will they be able to get credit? What will the interest rate be if they get credit? How long will it take to be able to buy a home? These are just some of the questions that I […]
Your credit rating is a number between 300 (poor) and 850 (good), also known as a FICO score which stands for Fair Isaac & Co, the company who developed the first scoring systems in the 1950s. The rating is compiled by three credit reporting agencies: Experian, Equifax and Trans Union from a number of factors, […]
When is it time for you to head to bankruptcy court? Many people in the past filed bankruptcy when they could, in reality, pay off their debts with a little budgeting and frugal living. For this reason, the federal government passed new bankruptcy laws in 2005 and now it is more difficult to to file. […]
Ch 7 Bankruptcy may be an obvious choice for debtors that have all of their assets exempt and the value of their house well under the mortgage balance. Ch7 would allow the debtor to get rid of the unsecured debts, such as credit cards, and at the same time allow the creditor to get rid […]