Bankruptcy Information, help, articles and guide

consolidated debt and secured credit

Bankruptcy Information

Debt Consolidation and Credit Card Counseling

Contents


		Bankruptcy Information We have published a number of articles on the topic of personal bankruptcy. Bankruptcy Law Changes - Recent legislation has changed bankruptcy law substantially. You may want to read about this, as the changes are the most significant in 25 years Bankruptcy Attorneys - The new legislation holds attorneys responsible for errors in bankruptcy filings. This may make it both harder and more expensive to find an attorney to help you with bankruptcy. Read the details. Bankruptcy Deadline Approaches - Those with problem debt are in a hurry to file. Personal Bankruptcy Will Not Relieve Student Loans - They are exempt from being wiped out by bankruptcy courts Bankruptcy in Utah - Why the Beehive State is America’s bankruptcy capital Bankruptcy Law - Where's the Protection? - The new law does more harm than good Don't Wait to File - Lawyers are already busy New Law Targets the Wrong People - It’s businesses that are filing, not consumers New Bankruptcy Law - Five Things to Know - Don’t get caught when the new law takes effect New Bankruptcy Law Hurts Katrina Victims -Requires documentation that may no longer exist New Bankruptcy Law Affects Corporations -Companies and individuals will feel the squeeze New Bankruptcy Law Myths and Misconceptions - A few misunderstood things about the new law New Bankruptcy Law - More Myths - Still more misunderstood things about the new law Personal Bankruptcy - Is it for you? - Some things to consider if you’re thinking about filing Personal Bankruptcy - Is It for you? Part 2 - More things to consider Do the Creditors Benefit? Myths and Misconceptions Filings Drop With New Law New Law Has Filers Avoiding Lawyers - They are trying to save the extra expense Credit Card Offers Pile Up for Debtors After Filing, You May Need Credit Report Cleanup Establishing Credit After A Filing - It can be done Lawyers and Why You Need One Filings Up Despite New Law - Abuse Act was supposed to reduce them New Law Changes Car Payment Rules - Changes favor lenders New Law Not Working as Planned According to Lawyers Debt Relief or Debt Management - Which one? New Debt Law Shouldn't Intimidate -Most can still file as before The Dos and Don’ts of Debt Relief - What you should and shouldn’t do New Debt Relief Law Comes With Otimism - A few think it will still stop abuse New Debt Relief Law Comes with optimism, Part 2 Debt Relief - Where are the Deadbeats? High Cost of Going Broke - Filing for debt relief may soon cost more than ever Will Debt Relief Fix Your Problems? New Debt Relief Filings Drop Debt Relief is Often Misunderstood

	Personal bankruptcy is a topic that has been in the news a lot during the last few years as Congress has been determined to “clean up” the problem of people declaring themselves to be insolvent. To hear certain Congressmen tell it, every Tom, Dick and Harry is spending money foolishly, just for the fun of it, so they can later have a court declare that they do not have to pay their bills. That notion is foolish, of course, as most studies show that the leading cause of financial insolvency is either job loss or a medical catastrophe. But it’s easier to pass tough legislation concerning financial scofflaws than it is to devise a decent health care plan, so Congress has recently passed the Bankruptcy Abuse and Consumer Protection Act. The Act, passed into law in early 2005 and enacted in October, 2005, makes it quite difficult for most people to have their debts wiped out by the courts. Instead, they will have to repay some, most or even all of their debts under certain circumstances. The bill also calls for mandatory credit counseling, but didn’t spell out the requirements for that particularly well. The result was a huge wave of people filing for bankruptcy just before the October 17, 2005 deadline. It remains to be seen if the bill will have the effect that Congress intended, which is to turn us all into a nation of people that pay their bills on time. It might work, but only time will tell. Anyone with a serious financial problem should first consult with a credit counselor before resorting to the drastic solution of declaring themselves to be unable to repay his or her bills.


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