Debt Relief Information
The Last Debt Solution Should Be Bankruptcy
A debt solution like bankruptcy should really only be used as a last possible solution. The problem with this solution of debt problems is that it includes a lot more than simply eliminating debt. When someone declares them self bankrupted, all debt collection actions against that person are prevented. The court grants an "automatic stay", which - with a few exceptions means that creditors cannot come after the money owed to them.The most important exception is that when a loan is secured by property creditors can seek relief from the stay and seize that property. The other exceptions are student loan debt, alimony, child support and taxes. The backside for the person who seeks this solution to eliminate his debt is that he or she must hand over all non-exempt property. This property is then sold and the proceeds are distributed amongst th...(related: Debt Relief)
The New Bankruptcy Law -- How Will It Affect Debt Negotiation?
In April 2005, Congress made sweeping changes in U.S. bankruptcy law that will go into effect on October 17, 2005. It's called the "Bankruptcy Abuse Preven...(related: Debt Relief)
The One Law You Should Be Breaking
There is a law all smart people break.Parkinson's law.Parkinson's law states that "work expands so as to fill the time available for its completion." It was first coined by C. Northcote Parkinson in the book Parkinson's Law: The Pursuit of Progress.A common derivation of that is "expenses rise to meet your level of income." Has that happened to you? It happened to me in 1991 and ...(related: Debt Relief)
The Road To Debt Relief
Living with debt is not something someone hopes for, but it happens and it usually becomes far more severe than it should before something is done to eliminate it. Once many individuals realize they have a problem with debt, they are too embarrassed to ask for help so they let themselves dive further into debt. Being embarrassment and ashamed are regular emotions many encounter when they realize they are in debt however you are not alone so you shouldn't feel embarrassed.Everyday people get into debt, but everyday people are looking for ways to debt relief, whether it is through self-help, credit counseling, dept management programs, or...(related: Debt Relief)
The Simple $10 Debt Elimination Solution
Ask a friend what resolutions they made for 2004 and your bound to hear them reply "Pay off my credit cards." Ask them how they planned on reaching that goal and many of them will not have a clear cut answer.The obvious first step to paying off credit card debt or paying down credit debt load is to cut back or eliminate the use of your credit cards. For some people this first step can often be the most difficult. If you're used to spending freely with plastic and worrying abo...(related: Debt Relief)
Think For A Change
I'm not sure where it originated, but I've heard it repeated time and time again: Insanity is doing the same thing over and over and expecting different results. As much sense as that statement makes, we often find ourselves addressing the same issue with solutions that are little more than rearranged expressions of previously failed solutions. Why can't we develop new solutions to persistent problems? Because we refuse to think!Chris Argyris first articulated the concept of double-loop learning. Stop; don't close the window... this is easier than it sounds. Once you get a handle on it, you will be better prepared to address the problems you face with solutions that might actually work!Let's back into the idea. Let's say ...(related: Debt Relief)
Tips For Saving Money
Still living from pay to pay? Or envying those great wealth accumulators and wondering how they did it? Every month you make a resolution of saving some dollars from your paycheck, but only end up breaking it. Looking for some magic formula for saving money?Well, there’s no magic formula—only some simple rules to be followed with determination and persistence.Have you ever taken consumer credit—the credit used for personal finance? If not, then that’s where you’re lacking. Those wealth grabbers, who are the subject of your envy, have...(related: Debt Relief)
Tips To Take Control Of Debt Collection
Yes, debt collection tips can help. You may think you have no power when the debt collector comes calling, but think again! Creditors don't like losing out on the ability to collect money owed them. And most creditors will take steps to settle an unsecured debt to collect some money as opposed to no money.Tip 1 - Keep Communications OpenOnce you have your Money Management Plan on paper, you will be able to professionally respond to requests for payment from creditors and debt collection agencies. They may ask you, or you can offer, to send them a copy of your Money Management Plan. This open...(related: Debt Relief)
Top Ten Reasons People File For Bankruptcy
1. Eliminate the legal obligation to pay many of your debts.This process of wiping the slate clean is called a discharge of debts. The goal of a discharge is to reduce...(related: Debt Relief)
Turning Bad Debts Into Good Debts Through Investing Fundamentals
If you've ever earned enough money to put some aside, like most people you've probably invested it with an eye toward security ? since, perhaps, you can't imagine yourself ever getting rich."Most people dream of becoming rich, but it isn't their first choice," Rich Dad said. That's because the effort to make money and uncertainty of becoming rich disturbs them and they seek refuge in the easier goals of security or comfort.People who make security and c...(related: Debt Relief)
Two Ways To Debt Relief
There are many debt relief programs out there both off line and online. Sometimes it can be difficult to chose one from the other. To make a reasonable choice, you need to know
If you know this, you can find the right program for you. There are roughly two main types of debt reduction programs; Debt consolidation and debt settlement. To be honest, it is not hard to find relief for your debt.There are some really good companies online that can help you with debt reduction and get you out of a pressing and annoying situation. Before we take a closer look at this two types...(related: Debt Relief)
Uk Debt When Moving Abroad
The idea of moving abroad to escape debt seems to be more of a common practice these days. People with failed businesses or swamped in debt seem to think moving abroad will give them a fresh start, free from debt and allow them to build a new life.It became obvious after reading some of the comments on various UK debt forums that there is divided opinions on this. Some people think running away from debt is too much of a risk, and believe the creditors will eventually catch up with the debtor, whilst others encourage the idea, stating that there is no way debtors will be found and seem to encourage people to move on and enjoy a new life free from the responsibilities of debt.In the past this might have been a successful way to start a new life without the worry of unpaid debt. However, creditors and courts alike seem to...(related: Debt Relief)
Use A Debt Checklist To Examine Where You Are
A Debt Checklist allows you to look at items and areas of your financial life. You need toexamine these to gauge how you stand. Even if you believe you are in good shape take a closelook at these areas to be sure.
Utah, The Nation?s Bankruptcy Capital
Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection Act, designed to minimize frivolous bankruptcy filings and to require debtors to repay some of their debt. Once it takes effect in October, 2005, the law will make it harder for those with problem debt to have their debt wiped away by the courts. Most will have to agree to a five-year repayment plan. In passing this new law, members of Congress suggested that our bankruptcy courts are filled with cases involving not ordinary citizens, but with reckless gambler...(related: Debt Relief)
What Are The Benefits And Consequences Of Getting Rid Of Debt The Easy Way
We have all experienced getting so far in debt we don't know how we're going to get out. There are many different options that you have for quick relief with benefits and consequences. You can look at the overview and see which option is the best option for you.Consolidation1. Benefits
What Does A Bankruptcy Trustee Do?
Once you file bankruptcy a court appointed bankruptcy trustee will oversee your case. The new law also requires that the bankruptcy petitioner to take a debtor education course and receive credit counseling from a U.S. Trustee approved non profit credit counseling agency.United States Trustees superv...(related: Debt Relief)
What Is A Chapter 13 Bankruptcy?
Many consumers that are bogged down in debt frequently turn to bankruptcy as a form of restoring their financial status back to a zero balance. Unfortunately many of these same consumers are confused when it comes to the difference between a Chapter 13 bankruptcy and a Chapter 7 bankruptcy. This quick article will explain what a Chapter 13 bankruptcy actually is and what it does for a consumer that files this form of debt relief.Before explaining what a Chapter 13 is I want to make sure that you are familiar with what the definition of bankruptcy actually means. It is basically a legal process that is filed in a court of law. The reason for filing this debt elimination strategy is to relieve individuals or businesses that cannot pay their current financial obligations of those s...(related: Debt Relief)
What Is Bankruptcy?
Here is a useful guide to bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice.Bankruptcy is seen as the last resort. Bankruptcy is perceived to be the only way to escape the ever-constant demands for payment by bill collectors and credit companies alike.Bankruptcy is not something that should be rushed in to. Certainly there are times when it can be very useful, but there are other times when declaring bankruptcy would be a big mistake.The purpose of bankruptcy is to...(related: Debt Relief)
What Is Debt Settlement And How Does It Work?
Debt settlement involves negotiating with a creditor or creditors to pay off a percentage of your total debts at an agreed upon settlement amount. Often, people choose to utilize the services of a debt settlement company rather than atte...(related: Debt Relief)
What Is Debt Settlement?
Debt settlement is the process of negotiating with your creditors so that you are able to pay off a certain percentage of the debt amount that you owe. ...(related: Debt Relief)
What The Mail On Sunday Said
Anyone considering Bankruptcy may have experienced fear after reading an article written in The Mail on Sunday with the headline "Bankruptcy cheats face crackdown". But, how much of what was written was in context of the reality of Bankruptcy as it is today?The article implied that since The Enterprise Act 2...(related: Debt Relief)
What You Should Know About Bankruptcy
Filing bankruptcy is not only a last resort legal action; it is also a very complicated legal action that definitely needs the expertise of a lawyer. When thinking about bankruptcy, you first need to decide if bankruptcy is right for you. If it is, then you need the help of an attorney to decide which type of bankruptcy is required for your particular situation.The decision to file bankruptcy ca...(related: Debt Relief)
Whatever You Do....dont Save Money!
No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts.In this economy your best investment, the best place to put your money is into paying off debts. Think of it as investing in your debt because that is exactly what you are doing.If you put $1,000 into a bank savings account earning 2%, at the end of a year you will have $1,020.If you carry a $1,000 balance on a credit card with a 19% interest rate, and you pay the minimum monthly payments, at the end of one year you will have paid $190 in interest.If you get $1,000 in a tax refund, small inheritance or from somewhere else you now have a choice to make. You can earn 20 bucks in a...(related: Debt Relief)
Why You Should Get Out Of Debt Today?
The main reason for getting out of debt today, is because people with little or not debt have more control over their future:1. They have more discretionary income, meaning that you won't be living pay check after pay check as you probably are right now. Can you even imagine how nice it is to be able to go to the Spa or for a nice dinner without having to put it in the credit card, but paying with your savings or extra money from your pay check?2. They can afford to go in longer vacations or actually to go on vacations (period). My husband and I go on long vacations every year. We've gone to p...(related: Debt Relief)
Worried About Debts?
Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?You're not alone. Many people face a financial crisis some time in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or overspending, it can seem overwhelming. But often, it can be overcome. Your financial situation doesn't have to go from bad to worse.If you or someone you know is in financial hot water consider the options below. How do you know which will work best for you? It depends on your level of de...(related: Debt Relief)
Debt Problems? You Can Negotiate With Your Creditors
It is always possible to negotiate with creditors ? even if they have already taken you to court to get a judgment or to garnish your wages.Getting a creditor to reduce your monthly payment helps and does provide short-term relief. However, this is only a temporary measure and you need to remember that the interest on your debt will continue to pile up.You need to negotiate settlements with your creditors to get real debt relief and fix your credit.Let's take credit card debt first. Suppose you owe $4,000 but tha...(related: Debt Relief)
Is It Possible To Be Sued For My Debts?
It is possible for creditors and third-party collection agencies to use legal means as a way to collect debts. The likelihood of being sued or having your wages garnished depends largely on the creditor that is ow...(related: Debt Relief)
Debt Elimination Is The Key To Financial Freedom
If you want financial freedom, the first thing that you will need to do is to get rid of your debts. After all, as long as you owe money, you can't consider yourself to be financially free. This is due to the fact that the money you will earn in the future won't actually belong to you, as you'll have to put it toward paying off debts in the past.While there are plenty of other issues involved in becoming financially free, you're going to need to work hard to get out of debt first if you want to be successful at achieving financial freedom.There are a few things that you need to do in order to eliminate your debts. The fir...(related: Debt Relief)