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Most people declare bankruptcy far too early before they have thoroughly investigated all their viable options. Getting a bankruptcy evaluation could be the smartest move you could make at this point to allow you to get past the current situation.
Bankruptcy levels are almost at their highest levels. Last year, nearly 26,000 battling Australians went bankrupt.
I had to file for Bankruptcy in the past due to a separation.
Now I am having financial problems of my own, am I am to file for it again?
Posted from: Nova Scotia
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Do not file for a bankruptcy unless you must! A bankruptcy ruins your credit for up 10 years, and can hamper you in owning anything for next decade.
If you’re having trouble paying back debt and you’re starting to wonder what your options are, the idea of declaring bankruptcy has probably crossed your mind. Nearly everyone’s heard of personal bankruptcy as a means of managing debt problems, but few are clear on exactly what the procedure entails or how it can help. To answer the question “Exactly what is personal bankruptcy?” here’s a brief overview of the procedure.
It is my contention that certain Massachusetts laws regulating foreclosure of homes do not meet the standard set by the due process clause of the 14th and 5th Amendment of the Untied States Constitution. More specifically, M.G.L. 244 § 2 is so narrowly tailored that a bank conducting a foreclosure by entry is not required to even provide actual or personal notice to the owners of the property. As a matter of fact, the law is written in such a way as to state all a foreclosing bank needs to do is draft a certificate and file it in the local registry of deeds. The bank never has to so much as send a letter or even place a phone call to the homeowner or any junior lien holders letting them know that the bank intends to foreclose on the home.
By this logic, a home owner or junior lien holder has no way to reasonably know of its right of redemption with out proper notice. The law would seem to create the duty for a junior lien holder to constantly monitor all of its debtors filings at each and every registry of deed where the creditor holds liens. As such, to hold that no personal notice is required to be provided to a holder of a right of redemption is be not only prejudicial, but also unjust and unfair with in the meaning of the Due Process Clause of the United States Constitution.
It would appear that the Massachusetts foreclosure by entry law allows a senior lien holders to withhold notice in an attempt to limit a junior lien holders ability to effectuate its legal rights.
My husband and I filed for bankruptcy in May, but we were able to keep our house because there was no equity in it. Our mortgage payments have always been up to date, and they continue to be. What I`m wondering is will that help to repair our credit after we are discharged? Will lenders look at the fact that our mortgage payments are always up to date? Thanks.
Posted from: New Brunswick
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I have not been in school since 2001, Will my student loan still be in effect? Or will I have to claim bankurupcy first?
Posted from: Alberta
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In the US bankruptcy code you’ll find that chapter 7 and chapter 13 deal with individuals and are the most often filed in bankruptcy courts. There are significant differences between the two and if you plan on filing your own petition, meaning without the help of a bankruptcy lawyer, then you need to be aware of these differences and make sure you prepare your bankruptcy petition accordingly, though it is not recommended that you go it alone, it’s just too easy to make mistakes and get denied.
Most people want to file under chapter 7 bankruptcy law if they already have to file bankruptcy. However, not everyone is eligible to apply. Find out how to see if you can apply.
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