A holder (mortgagee) of an adjustable rate mortgage (ARM) is required by law to notify the person obligated on the mortgage (mortgagor) when the interest rate changes. When the mortgagor is in bankruptcy, the notification requirement still exists, but things are slightly more complicated. First, i

Bankruptcy is a legal method that an individual adopts to declare his imparity to clear his debts. Generally a person opts for bankruptcy when other debt relief options do not seem to work out.

Most of the time, the declaration of bankruptcy pertains only to business establishments.

Filing for bankruptcy may help you postpone foreclosure of your home. In some cases you may be able to save your home entirely.

Texans who find themselves swimming in debt, with no chance of paying off creditors, can choose to file for bankruptcy. There are two avenues. If they earn less than the state median income of $36,000--or $51,355 for a couple--they can file for Chapter 7 bankruptcy. (Chapter refers to the location o

States that require payment of a franchise tax assess that tax on companies for the privilege of conducting their business in-state. A business need not be part of a franchise to be subject to a franchise tax. Those with franchise tax questions should contact their applicable secretary of state or a

Bankruptcy lawyers Richard Chang and Steven Diamond have worked together since 1995. At Chang & Diamond, APC, in San Diego & Riverside County, California, we work to dispel the stigma

Rutgers University's John J. Heldrich Center for Workforce Development, performed a study revealing that only 56 percent of its 2010 graduates were able to find jobs. If you, like Rutgers' unfortunate 44 percent, have had trouble finding work or maintaining your student loan payments, bankruptcy as

This article explores limitations, risks and opportunities when filing Chapter 7 bankruptcy again. The author advocates comparing alternative debt relief options, while and preserving all Chapter 7 ri

California has three bankruptcy court districts, but all have similar rules.Thinkstock/Comstock/Getty ImagesThere are three regional bankruptcy court districts in California: the northern district is where bankruptcy applicants in northern California, including San Francisco and...

A foreclosure begins with a lender notifying the homeowner that the process of legally obtaining the property has begun. In the initial stages, a homeowner is given the opportunity to satisfy back payments and stop the foreclosure. Traditionally, it becomes difficult to reverse the bank's action as

Often, people going through divorce must file Chapter 7 bankruptcy because the parties cannot pay their bills on their own. In the advent of two-income households, it becomes impossible for one person to pay the mortgage or rent and all the living expenses. Most couples, especially those who have be

Businesses are regulated by the laws of the individual states. Each state has its own rules regarding the process of business organization, but one requirement that is uniformly present throughout is the need to have a registered agent in that state to receive "service of process," which is the lega

Going into debt because you lost your job or suffered a serious injury or illness can be extremely stressful. Once you stop making payments on your house, the house may go into foreclosure, meaning that the bank you owe money to takes the property back and you and your family have to vacate the prem

Corporate governance rules are used to regulate the financial sector.Asia's financial centre image by Sammy from Fotolia.comThe Financial Services Authority (FSA) is a financial body within the United Kingdom which was given its powers by the Financial Services and Markets Act of 2000 but...

As a United States resident living abroad, you may be facing the prospect of seeking bankruptcy protection and relief. Although not the easiest task in the world, you are able to file for bankruptcy in the U.S. while living outside of the country. Moreover, depending on your specific situation, you

Chapter 7 bankruptcy, known as liquidation, is typically the quickest and easiest way for an individual to file bankruptcy. Filing Chapter 7 in New Jersey eliminates your debt but requires a bankruptcy trustee to sell off some of your belongings in order to pay your creditors.

All this information can be overwhelming. However, one need not lose hope when facing these circumstances because this can happen to anyone. In fact, people from Arizona have enlisted the help of lawy

When you owe a large amount to creditors, you can pursue bankruptcy. Though you can discharge many types of debt in bankruptcy, you can't typically discharge a lien that a creditor has placed against your property unless you pay the debt in full. However, you might be able to eliminate these liens u