http://live-debt-free-now.com Get Out of Debt Today Thu, 22 Oct 2009 23:39:31 +0000 http://backend.userland.com/rss092 en In the vast majority of bankruptcy cases, debtors are able to keep all of their real and personal property.  It is the rare exception that property is taken.    Bankruptcy law allows debtors to use certain exemptions to protect property, both real and personal.  Most debtors are able to keep the ... http://live-debt-free-now.com/how-much-property-will-i-lose-if-i-file-for-bankruptcy/ Yes, however it is imperative that you discuss the pro’s and con’s of these other options with a qualified consumer attorney before jumping into anything.  While there are many ways to address unsecured debt absent a bankruptcy filing, the following 2 options are the most common:   Debt Consolidation: Debt consolidation is ... http://live-debt-free-now.com/i-don%e2%80%99t-want-to-file-for-bankruptcy-or-am-not-sure-it-is-the-best-decision-for-me-are-there-other-options-available-to-address-my-unsecured-debt/ One of the common myths about filing for bankruptcy is that it ruins your credit for many years.  The answer is “it depends.”  It depends on a number of factors including your current credit score, your debt load, and your previous credit history.  As surprising as it sounds and contrary ... http://live-debt-free-now.com/my-credit-will-be-ruined-for-7-10-years-once-i-file-for-bankruptcy-and-i-won%e2%80%99t-be-able-to-get-credit-right/ Once a creditor has obtained a judgment against you, chances are they will likely attempt to enforce it.  There are many collection tools available in this regard depending on whether collection is sought against a business or individual.    The following are the most common ways a judgment creditor will seek ... http://live-debt-free-now.com/a-judgment-has-been-entered-against-me-what-happens-now/ This is a question I hear quite often as people contemplate filing for bankruptcy.  The answer is no. The decision to file for bankruptcy relief is relative to the debtor’s financial situation.  For example, it is not uncommon for someone who is living on social security or other fixed income ... http://live-debt-free-now.com/is-there-a-minimum-amount-of-debt-required-to-file-bankruptcy/ It is the exception rather than the rule that a person financing a vehicle owes less than or equal to the cars value. Unless you put at least 20% down, chances are you are upside down. Bankruptcy not only can eliminate unsecured debts like credit cards, it can also drastically ... http://live-debt-free-now.com/keeping-the-car-you-love-despite-owing-much-more-than-it%e2%80%99s-worth-how-can-bankruptcy-help/ Despite what most people think, there is life after bankruptcy.  GM just put out a good commercial in this regard, and its platform can be applied to individuals and businesses alike.  As is the case with GM, sometimes it's best to regroup before moving forward.  Click here to see the commercial: http://www.youtube.com/watch?v=a-oEudd6AYM For ... http://live-debt-free-now.com/see-the-new-general-motors-after-bankruptcy-commercial/ When a debtor receives a “Notice of Abandonment” from the bankruptcy trustee, they should not be alarmed.  The title of the document oftentimes scares debtors into thinking they are going to lose the property listed in the notice, which is not the case.  Basically, a notice of abandonment is the ... http://live-debt-free-now.com/i-received-a-%e2%80%9cnotice-of-abandonment%e2%80%9d-from-the-bankruptcy-trustee-what-does-that-mean/ When you file a Chapter 7 bankruptcy case, you also file a statement of intention with respect to property that is secured by consensual liens (car loans, furniture loans etc.).  Bankruptcy law requires you to “perform” or move forward with your intentions regarding financed personal property within 45 days of ... http://live-debt-free-now.com/reaffirmation-agreement-what-is-it-and-what-are-the-pro%e2%80%99s-and-con%e2%80%99s-of-signing-one/ The automatic stay is one of the most powerful weapons in a bankruptcy arsenal to protect a debtor from his or her creditors.  It’s impact is immediate upon the filing of the bankruptcy petition with the court, and its purpose is to provide instant relief from the stressors of creditor ... http://live-debt-free-now.com/the-automatic-stay-what-is-it-and-what-can-it-do-for-you/