Bankruptcy Options [mortgage-scam.blogspot.com]
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The paper said Horton told Parker that AMR, the parent of American Airlines, would not be rushing into any big moves while it moves methodically through the bankruptcy reorganization that it has been in since November. Parker has conducted a very ... CEOs of American, US Airways talk merger options
Before filing for personal bankruptcy, you need to speak with Fort Worth bankruptcy attorneys about your bankruptcy case. After going over your finances, Fort Worth bankruptcy attorneys will be able to properly advise on how best to proceed. One thing Fort Worth bankruptcy attorneys will definitely tell you about is credit counseling.
Federal law requires that you take a course in credit counseling at least 180 days, or 6 months, before you file for personal bankruptcy. Part of the point of this course is to determine if you should even be filing for personal bankruptcy at all. In some cases, a more modest repayment plan or renegotiating with creditors will work much better than filing for bankruptcy.
Filing for bankruptcy is a right provided to all Americans by the Bill of Rights and it is meant to give someone who files a fresh start financially.
Still, it is meant to be used only when all other financial options have been exhausted and there is no other way out of a hard situation.Other than filing for bankruptcy as a last resort, there are several other options. One option is settling out of court. This means that you settle your unpaid debts at a reduced rate outside court, often with the aid of a company who offers such services. Other companies provided debt counseling services.
Debt counseling services help you consolidate your monthly payments and interest reductions on your unsecured debts. Some people won't be able to qualify for debt counseling services since even under better conditions they would not be able to pay their debts back.
Yet another idea is using debt consolidation loans. This involves borrowing the equity from one's home in to use in paying down credit card debt.
Naturally, all of these financial alternatives to bankruptcy might negatively affect your credit ratings and might not apply to your particular financial situation. Recommend Bankruptcy Options ArticlesQuestion by candyleah01: Bankruptcy options? I have gone through a divorce and acquired bad debt (foreclosure, repo, etc...) while ridding myself of a spouse. I feel there is no other way to start clean than by filing bankruptcy. Is this the right decision? Any bankruptcy success/ failure stories? Best answer for Bankruptcy options?:
Answer by tigger
go chapter 7 and wipe it all out and start over thats the best way.
Answer by pinball
Bankruptcy will stay on your credit report for at least 10 years. Find a good credit counselor in your area, they can get most creditors to drop the interest and your payments will be a lot smaller. This is better than 10 years of bad credit
Answer by jbearbooboo
i know how you feel. i had went through a divorce and had to file bankruptcy. i cried because i didnt really want to do this. but i had no other choice.there is a program out there called, christian debt remover.com that could help you so you dont ruin your credit.talk to someone there and see if maybe there is another road you can go other than filing bankruptcy.get some good advice before take this step. i didnt know about this program then.
Answer by loveholio
there are several methods to get out of debt, etc. some of which will work for you and so me of which won't. first, you have to identify your goals. what do you want to accomplish? 1. if you want to wipe the entire slate clean, but don't really care about your credit for the next 10 years, go for a chapter 7 bankruptcy. 2. a chapter 13 bankruptcy allows you to "restructure" your debt with your creditors. you will be on a court-approved plan to pay back your debtors over several years. it still hurts your credit report, but not as bad as a chapter 7; and you still have to pay. 3. you can try to enter into forbearance plans with your creditors. this is an agreement you will make with the people you owe money to. a bankruptcy won't show up on your credit report, but the creditors will report a forbearance to the bureaus, which hurts your credit score. good luck
Answer by sweettoni37
Hey I too BEEN THERE, And it will get better for ya because now more than anything you have a Peace of mind with or with out debt this is so very important, A bad spouse will way on your nerves. Now If you just have to file then FILE A Chapter 7 the BEST way to go, Because you will need to list all debts you owe car,house ect.... And this way all phone calls from bill collectors will stop, So go Chapter 7, I did and I was able to stand up, But Never if you can HELP It go a Chapter 13 this is because the way they set this up is Weekly Payments that MUST come out of your Check EACH WEEK from your paycheck/job, And If you Loose your job say you have your car,house on this Chapter 13 then by loosing your job YOU WILL LOOSE YOUR CAR, HOUSE everything, Unless you are able to pay weekly. Take Care Of Self It Is not the End of Anything Good but the Beginning of A NEW Life and Everything BAD IS GONE FROM YOU. From Your yahoo Buddy Bank ruptcy Twice. LOL
Answer by Dawn H
While reading the other posts, one thought came to mind - make sure you thoroughly check out any organization that you use for credit help. Actually, to file personal bankruptcy, you are now required to take a pre-bankruptcy credit counseling course from a government-approved provider prior to filing. See below for how to find an approved provider. As part of its pre-bankruptcy counseling services, the agency will discuss bankruptcy alternatives and provide you with an evaluation of your financial situation and a personal budget plan. This should give you a better idea if bankruptcy is right for you. Depending on your income, you may not have a choice between Chapter 7 and Chapter 13. You will need to discuss that more with an attorney. Good luck!
Answer by chslaw
A lot of my clients find that they can return to productive lives once the stress of being overwhelmed with debt has been removed from their lives. I know of one person who's credit rating was back up to 740 within a year of getting a discharge. You should consult a local bankruptcy attorney about your specific situation to see if bankruptcy is right for you.
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