Bankruptcy Options [mortgageinsuranceguide.blogspot.com]
www.RI-Bankruptcy.com Attorney Mark Buckley explains how consumer debtors in Rhode Island and Massachusetts have two basic bankruptcy options Chapter 7 and Chapter 13. Video discusses household income limits, means test, and saving a home from foreclosure.
mortgageinsuranceguide.blogspot.com RI Bankruptcy Law options: chapter 7 or chapter 13
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. Related Bankruptcy Options Articles
