Chapter 13 bankruptcy is an alternative to the liquidation form of bankruptcy that is known as Chapter 7. With Chapter 13 bankruptcy, you reorganize your debts and repay them over a certain period of time. This type of bankruptcy does not forgive you of your debt immediately but instead allows you t

Filing for bankruptcy in Texas is similar to filing bankruptcy in other states, since bankruptcy is a federal procedure. Texas has certain rules and regulations, however, that make knowledge of Texas bankruptcy law critical to the success of your bankruptcy petition. As in other states, failure to f

If you are one of many people in debt due to the recession then you might have thought about different ways to clear it. There are a lot of ways to clear your debt, but the most common used are bankruptcy and debt settlement.

According to Bankrate.com, the average household debt in the United States is $14,500, as of 2011. If you are simply making the minimum payment on your credit cards, it can take years to pay off those debts. Spending $1,000 on a credit card takes an average of 22 years to pay off. If you have an exc

If you're wondering who can file for bankruptcy, you are not alone. Many people want to know if their situation will allow them to do this, because while it's certainly not an easy way out, as many think, it is sometimes your only option. The truth is, you have to meet some very specific c

There is no use shouting and letting everyone know that you are broke and it certainly will not help you on how to file bankruptcy.However, in general, you should contact an experienced bankruptcy attorney.

One of the most difficult financial decisions a person may have to make in their life is to decide to file for personal bankruptcy. With such a big decision, you should be sure to know ...

Many individuals are struggling with debt crisis and have thought about filing for bankruptcy.Mostly people suffer for years in debt when they could have obtained relief sooner if they just took the time to find out what bankruptcy was really all about.

No one plans to be sick. Unfortunately, until the much anticipated health care reform bill passes in Congress, millions of Americans will continue to face mounting medical bills. Now is the time to plan some innovative ways to reduce anticipated hospital bill debt with some fundraisers. Check out so

Bankruptcy and debt settlement are the two most popular debt relief methods of the time. Even though the both methods are presented to be popular there are apparent differences between them. Bankruptcy is not a recommended method when compared with debt settlement. Debt settlement has more merits th

Sometime there are times in life when you might have to think about filing bankruptcy. Don't make these mistakes and do what I did.

If a debtor has problems paying his bills, his creditors will probably begin to get more aggressive as they try to collect the money owed to them. When a creditor feels there is no other way to collect the money, it may resort to a lawsuit to make the debtor pay. As a result, many debtors end up see

Bankruptcy is the process by which individuals or organizations with unmanageable debt attempt to adjust or discharge their debts through court intervention. Before you file, you should seriously consider attempting to negotiate with creditors.

Bankruptcy is just as disastrous for a business and its owners as it is for an individual. The failure of a business saps morale, creates anxiety about the future and damages professional reputations. There are many factors that cause a company to declare bankruptcy, but the steps that occur during

In 2009, there were more than 1.4 million bankruptcy filings in the United States. Most personal bankruptcies are Chapter 7 filings. But with scores of people facing foreclosure, more individuals are filing Chapter 13, because it allows them to keep their homes. Here are some of the important facts

A country's national debt is the sum total of its annual deficits and surpluses over time. A deficit occurs when a country's governmental income over the course of one year is less than its expenditures. Deficits are added to the total national debt. Deficits are normally measured in relation to a c

The "Presumption of Abuse" in Chapter 7 and how to overcome it

People with unsecured debts are trying to cover up their debts as soon as possible as their interest rates are growing higher and getting out of control. These people are looking for an effective system to reduce the amount of debt.

Because of its specific nature, the chapter 13 bankruptcy is also known as Wage Earner Plan. As per this type of bankruptcy, the debtors are provided an opportunity to reorganize their finances and put their business on the path of profit making. They are also provided with a repayment plan and they