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Bankruptcy Tips Advice

Halting Creditors Through the Automatic Stay

Declaring bankruptcy can be a complex but necessary step for individuals, businesses, and organizations in order to protect their financial assets and their stability. One way that filing for bankruptcy under chapter 7, 11, or 13 helps to protect a person or company from creditors is through the instant protection of an automatic stay. Upon filing a petition for certain chapters of bankruptcy, a notice is distributed regarding the petitioner's status which prevents creditors from moving forward with actions against that person.

Business Insolvency - What It Is and How to Recover From It

Business insolvency is generally described as a company which, if it were to be immediately liquidated through a sale of all of its assets and repayment of all of its liabilities, would not have sufficient assets to repay its debts, and does not have access to generate new funds from capital markets. The source of these additional funds typically is through debt or equity financing. This typically involves the issuance of bonds or through a line of credit or other loans, or through the issuance of preferred or common stock.

Insolvency Practitioners Important Points to Consider

It is very important when a business is facing insolvency to find a good practitioner to help them resolve issues with their creditors. There are several insolvency practitioners in the UK. Read more.

How Can an Insolvency Practitioner Help You and Your Business?

First and foremost, we will discuss what insolvency actually is. When a business is unable to pay off their debts it often goes through procedures such as liquidation of its assets or bankruptcy in the most extreme case. Read more

Stopping Creditor Phone Calls

Dealing with a large sum of debt can be a frustrating and discouraging experience. You may feel that no matter what you do, you can't seem to pay down your debt. To make matters worse, creditors keep calling, trying to bully you into paying money that you don't have.

How to Get a Bank Account After Bankruptcy

Declaring bankruptcy is unavoidable for people who fail to pay their huge debts. After becoming bankruptcy, there are many consequences they need to face. First thing first, their credit scores will be badly affected. Secondly, they can't own assets. Thirdly, they face difficulties in opening bank account.

Before You Consider Bankruptcy Protection for Card Debt Shouldn't You Consider the Other Options?

Bankruptcy is a huge move to take in your life with far-reaching consequences lasting from 7 to 10 years. Shouldn't you spend a couple of hours considering other options before you jump off the bridge?

Debt Relief & Bankruptcy

Declaring bankruptcy can automatically eliminate many of your debts and make the others easier to manage, but there are some financial obligations it cannot change. If you have been ordered to pay child support, filing for bankruptcy cannot remove your obligation to pay child support, including backed child support, in full. Nonetheless, declaring bankruptcy can make it easier to make all of your payments on time.

Overcoming Your Credit Card Debt - Filing Bankruptcy Or Negotiating Your Debt?

Global economy crisis has caused many negative impacts on individuals, especially for those credit card users who have lost their employment. Without a job, how can a cardholder pay back his or her debt on time? When he or she fails to do that, the lenders will take legal actions to get back their money.

Bankruptcy and Public Auctions

During difficult economic times, individuals may struggle to make regular payments on important bills and control their debts. Other factors like divorce, the death of a spouse, or unemployment may make it even more difficult for people to keep their finances in order. If a person is unable to repay their debts and feels that his or her financial situation is out of control, he or she may decide to file for bankruptcy.
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