 Articles tagged: Chapter 13 Bankruptcy
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Filing for bankruptcy is not a decision that should be made lightly. You need to know what to expect, but you also need to have examined all of your options prior to filing. A lawyer can help with possible options you may not even be aware of. written by Jon Arnold
Cases of personal bankruptcy are on the rise, but just because you have financial problems does not mean that you can file. In fact, your financial data will show which chapter you can file, or even IF you can file, which is why you need to have a bankruptcy lawyer present your information in the right light. written by Keith Garrow
This article looks at the choices faced by people in the unfortunate position of threatened with foreclosure or the repossession of their home. Filing bankruptcy is a drastic step, but many people are happy to consider it if it can save their home. After reading this article you should understand how bankruptcy law works in both the US and the UK in respect of foreclosure. You will also understand the differences between Chapter 7 and Chapter 13 bankruptcy, and why this is important in saving your home. written by Beth Bailey
Filing for Bankruptcy does not get rid of all debts you may want to do research before filing. There are different kinds of bankruptcy to consider and whether or not you may be eligible for them. Also there may be alternative options. written by Neil Willis
It is imperative that both the debtors and creditors should be aware of the new bankruptcy laws so that they can save themselves from any unwanted future mishap. The U.S. Congress has made enormous changes that came into existence from October 2005. written by WebMarket Reports
What is the best way to request a higher credit limit? There's a smart way to do it and a not-so-smart way. written by WebMarket Reports
After bankruptcy your number one mission is to prove to lenders you're now a low credit risk. So what do they want to see from you? The right answers to the following six questions. written by WebMarket Reports
Being frugal is okay. The choice of being frugal in some areas allows you to be extravagant in ways that mattered more to you. written by Wally Adamchik
I want to explore the one of the most important action you can take to increase your credit scores: removing inaccurate negative information from your three credit reports. written by WebMarket Reports
Managing your credit the way your parents taught you would be the equivalent of buying a record player and trying to find a vinyl record of your favorite recording artist today...compared to buying an audio CD. written by WebMarket Reports
There are six steps that you can take to shop for a car without having your credit scores penalized by credit inquiries. written by Jon Arnold
Christmas and the holiday season does not need to be nearly as stressful as many people make it. Take time to breathe and enjoy some activities with your family. Out of ideas for activities? Try some of these to lighten your holiday load. written by Jon Arnold
If a consumer is going to file bankruptcy, it is almost always done using either Chapter 7 or Chapter 13, where Chapter 7 is the most common. Understand what the requirements are for Chapter 7 bankruptcy and know what to expect as you go through the process. written by Dale Rogers
Somewhere between the Stated W-2 Wage Earner Loan and the New Century Mortgage (large subprime mortgage lender) filing for Chapter 11 Bankruptcy protection mortgage practitioners lost track of the basics of the mortgage lending practices and procedures. When Vince Lombardi opened training camp at the Green Bay Packers at the first practice of the year he gathered all around and held up a football to the players and told them…"this is a football". written by Dale Rogers
As the financial markets are being rocked by daily negative news including the latest lenders closing their doors and higher levels of reported foreclosures hitting new highs have stoked even more the slide of the troubled mortgage business. The mortgage products including Option ARMs, 2/28 Subprime ARMs (2 years fixed then adjusts every six months), NO DOCs, Self Employed Stated Income, W-2 Stated Income, Bank Statement Loans, No Ratio, and other esoteric subprime loan products. written by Dale Rogers
When the nightly main stream television news leads with stories regarding mortgage foreclosures and down turning markets a viewer knows a trend has arrived. This is all backed up with data indicating the surge of properties on the market with mortgage foreclosures trending up as well. Various areas are experiencing more downside moves than others are; however, the overall is down at the current moment. Two years ago, if a buyer or seller breached the subject of a Short Sale, where the lender settles less than what is owed, the response would have been “What are you nuts?” “We’ll just put it on the market and it will be gone in two week written by Dale Rogers
American families are waking up to the fact they are in deep doo doo upon the receipt of the first notice from the mortgage lender holding the Adjustable Rate Mortgage (ARM) that the mortgage payment is jumping up by a considerable margin. Family budgets are blowing up, savings are being exhausted, payments are being missed, credit card debts are exploding, credit scores are falling and their favorite dog spot does not have as many goodies to toys to play with. written by Dale Rogers
The “Universal Default” trigger mechanism used by many credit card companies who regularly check payment history in the bureaus. If they find a 30-day late or other derogatory information the interest rates on ALL the credit cards can be accelerated in many cases to the maximum legal limit. Thus, the sweet heart introductory rates went in some cases from 8.5% to 29.99% + to varying degrees.
The “125%” Combined Loan-To-Value Second Mortgage can be utilized to roll high interest rate credit cards down to say 14.5% up to a loan limit in many cases to $75,000. It’s not a cure all but rather a temporary band aid to increase monthly cash flow while fully amortizing the debt. Aggressive payment of this second can make some sense as this rate is 14.5% plus depending on credit scores and exact loan to value percentages.
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