Bankruptcy Personal

Changes to Bankruptcy Policy Mean More People Will Have to Pay After Declaring Themselves Bankrupt

From the 1st of December 2010 the policy surrounding the amount a bankrupt person is required to pay towards their debts was changed. We consider how this change will affect people who are declaring themselves bankrupt.

If you declare yourself bankrupt, the official receiver will review your income and living expenditure budgets. Any money left over once all of your essential and reasonable living expenses are paid is called disposable income.

Before the 1st of December 2010, if your disposable income was anything up to £100, you would have been allowed to keep this money. Read more…

Getting A Discharge When Filing Bankruptcy

Those having financial difficulties that are considering filing for bankruptcy need to factor in all of their options and weigh the advantages against the disadvantages found in the bankruptcy law. The most obvious advantage to filing bankruptcy is the debtor gets a fresh start. The bankruptcy will wipe out all of their unsecured debts and give the individual a chance to start over. Like all things, with the good there is some bad.

For most people, the hardest part of filing bankruptcy is the psychological effects it has on the debtor, as they feel it is a mark of shame. Most debtors also have a tough time having all of their credit cards shut off with the filing. They feel they have lost all their financial freedom, not considering the crushing debt that is sucking the life out of them. After overcoming the emotional effects, most individuals feel relieved after they file knowing that they soon will be debt-free. Read more…

More File Bankruptcy Without Attorney, Get Cheap Attorney Fees in Bankruptcy at Low Cost to Save

MORE DEBTORS DOING BANKRUPTCY WITHOUT LAWYER, A NEW SURVEY SHOWS. DEBTORS CAN ONLY SAVE ON BANKRUPT FEES DOING IT PRO SE WITHOUT ATTORNEY

Not surprising, but the long emerging national statistics show that a growing number of Americans all across the country have been filing personal bankruptcy at astronomical levels. However, even more interesting, perhaps, is a recent national random sample pulling made by one researcher about Chapter 7 and Chapter 13 bankruptcy cases filed by American debtors during the two months period of July and August of 2010, which made this significant finding: that overall, a little more than 1 out of every 9 cases (11.3%) filed in the American bankruptcy courts, were filed by the debtors WITHOUT using an attorney. The pulling, done by the University of Illinois Law School’s Professor Robert Lawless, a national expert in personal credit and bankruptcy, showed that, in deed, the rate of non-attorney filings by debtors was higher in chapter 13 cases (13.8%) than it was in chapter 7 (10.1%). Read more…

Tips To Survive A Recession

I have been through 4 recessions and know what many people are going through. To benefit from this article you must apply the information. It’s no use just reading and not taking action. You must go out and do it!

This might mean changing some bad habits for good one’s.

Unfortunately due to the media’s habit of printing bad news – everyone believes we are in a recession. I was very fortunate in that I didn’t know I was in a recession. I never read the newspapers; never watched T.V. There was no internet those days in South Africa. So I was at a big advantage. Read more…

Paying Bills During Bankruptcy

If you are facing difficult financial times, you probably feel overwhelmed and stressed by all of the challenges you are facing. On top of having to pay regular bills, you may be getting phone calls from creditors asking you about past due debts. You may feel that there is nowhere to turn to get help with your finances. Thankfully, there is. Filing for bankruptcy is one way you can get a better handle on your finances and begin working towards a more stable future.

How to stay on top of bills during bankruptcy

When you file for bankruptcy and work to gain control over debts and other expenses, there are certain steps you can take to make it easier to become more financially stable and keep meeting your financial obligations. You can make your cost of living less expensive and your finances more manageable by: Read more…