Bankruptcy Law Articles

The protection of consumer rights is one of the great responsibility of UAE Government. By availing these services the consumers can save their money and time through long court litigations while having cost effective and prompt justice for them through dispute resolution proceedings.

It’s a reality that bankruptcy and divorce often coincide, but the question is, which should come first, bankruptcy or divorce? The answer to that question will depend on your individual set of circumstances and if you want to take the risk and wait.

Imagine getting a letter in the mail informing you that your mortgage payment has been rejected by your bank for insufficient funds. This may be because your bank account has been levied by another creditor whom you owed money.

This article is an overview of Debt Recovery Procedure in Turkey

The foreclosure law provides creditors a lot of ways to enforce their claims against the debtor. Garnishment (the seizure of assets) is one of the most popular among them.

The average person knows little about bankruptcy, but many have heard common bankruptcy myths floating around. If you are drowning in debt, this is what you should know about the bankruptcy basics.

Recovering an unpaid debt in Thailand is often a tricky task that can be made more distasteful when the debtor, whether it is Thai or a foreigner, refuses to settle even after numerous attempts. Many expatriates and even companies, who do business in Thailand, have run into difficulties with debt recovery.

If you have a good or even a great credit score, many other people will be trying to steal your information and ruin your credit score. Identity theft is on the rise throughout America. In a way it is a silent crime that can do severe damage to a person's credit score and financial situation. Chances are, either you, some family member, or someone you know has been negatively affected by theft of their identity.

Will the FED's actions affect you?

The United States is going through one of the worst recessions since the Great Depression. Bankruptcy filings have increased, unemployment is high and home values have decreased exponentially since 2007 highs. Many home owners are finding they have a lot of debt, a house that is not worth what they owe, no ability to refinance and no ability to sell a home because they owe more than it is worth.

Learn how a federal agency, made to protect homeowners, has now turned on them.

When you are unable to pay your bills, creditors have no choice but to try various means to collect from you for monies that are owed to them. One of the options available to bill collectors is to get a writ of garnishment against you and proceed to garnish your wages. If you are having trouble making ends meet the way it is, how are you ever going to be able to get by with up to 25% of your wages being taken from you via a garnishment from one of your creditors?

For many people in Arizona considering to surrender their house in a foreclosure. There are some things to consider. Your credit score will suffer significantly. A comparable option is to file for bankruptcy protection. Declaring bankruptcy offers a debtor protection from lawsuits and the ability to wipe out all or a portion of his unsecured debts. Plus, within the bankruptcy a person can surrender their home and not have to have both a foreclosure and a bankruptcy on their credit report.

Chapter 7 bankruptcy does not erase cosigner liability. Cosigners may still have to pay your debt. Chapter 7 bankruptcy attorneys near Plano, Texas can explain.

New Jersey federal and state courts and the U.S. Supreme Court, in addition to a federal court in New York, have issued a number of opinions regarding products liability and related issues since the beginning of 2011. Below is a synopsis of some of the more interesting and important of those decisions.

Default customers are quite often a factor behind company insolvency, according to statistics. Even for successful companies, bad payment behavior by customers may turn into a major problem with severe consequences. Creditors should consider advising outsourcing the reminder and all further steps to a lawyer. In most cases, the first reminder on headed paper from a law firm will make defaulting customers pay their debts.

The Court of Appeals has held that even where there is a contractual fee shifting provision, that the court retains discretion to limit any award to a reasonable level. Successful parties will have to be ready and able to prove that requested fees are reasonable, even where the other party has expressly agreed by contract to pay all fees.

Until May 7, 1997, much to the ongoing dismay of the Western financial world, debt financing was not an option for most Ukrainian companies. The key obstacle was the now-cancelled National Bank’s Provision No. 329, dated December 29, 1995, which strictly required all Ukrainian residents to obtain a special license prior to receiving loans in foreign currency from foreign creditors. Naturally, such licenses were not generally granted to the average Ukrainian company.

When filing for bankruptcy one of the main concerns is the amount of debt that will be discharged; meaning that the individual responsible for it will no longer be required to pay it. Bankruptcy is a federal matter and needs to be filed accordingly. There are different forms of it and they all have their own specifics that will need to be understood prior to filing.

During the bankruptcy process a debtor has to list all of his creditors on his bankruptcy petition. Sometime during this process the debtor forgets a creditor or two. It is completely normal to forget to list a creditor. Debtors are under extreme stress and sometime have to keep track of many creditors. If this occurs it is best to seek the advice of a bankruptcy attorney.

Students these days blindly sign up for student loans to pay for college without realizing the big picture of having to pay them back. It is not usually until after college that the students realize the massive loans they now have to pay off. Student loan debt is a more acceptable loan compared to, say, credit card debt, but still needs to be repaid.

Introduction - The Legal Aspects of Credit and Collections - To succeed, businesses must be paid promptly and in full. With the help of their lawyers, business owners and managers can collect promptly and protect their rights regarding credit and collections. This pamphlet reviews the legal aspects of credit and collections, including credit checking; collection letters, and collection lawsuits.

Information for homeowners about the reality of bankruptcy. All home buyers, particularly in light of the real estate collapse of recent years, should be aware of material changes in bankruptcy law which could affect them in the event of financial hardship. There are two key components a prospective or recent home buyer should be mindful of concerning a potential bankruptcy.

Arizona borrowers have two foreclosure options: non-disclosure (aka trustee sale) and judicial foreclosures. Arizona borrowers are not accustomed to judicial foreclosures, as the vast majority of foreclosures in Arizona are non-judicial. However, there are both legal and strategic reasons why a lender might choose judicial foreclosure over a trustee sale.

Filing bankruptcy may be a test of honesty and integrity. Bankruptcy crimes protect the aims of bankruptcy, which is to give a new start for consumers, reorganize businesses, and equitably distribute a debtor's assets to creditors. Bankruptcy crimes may occur throughout the bankruptcy process. For example, in Chapter 13 bankruptcy when a debtor fills out a petition, the person needs to make sure everything is true.

There are a lot of costs in owning a small business – permits, licenses, payroll taxes for workers. For the small business owner who has a lot of debt, but can't pay, creditors may threaten legal action against the owner or ask for money upfront. How much creditors collect, and how creditors can go about collecting debts, depends on how an entrepreneur organizes the business, whether the owner personally guarantees repayment of debts, and whether a small business owner files for bankruptcy.

In their attempt to enroll distressed Americans in a “debt settlement” or debt reduction program, supposed debt settlement providers are becoming very aggressive with unsolicited telephone calls, which are at an all time high. Rules set forth by the Federal Trade Commission regarding debt settlement program solicitations are mostly being ignored and totally disregarded by those who would use this form of solicitation.

Borders- it used to be a place where book lovers could pick up a new title, sip a coffee beverage and lounge on a couch while disappearing into a literary wonderland. Then came 2011 when the company declared bankruptcy and closed up to 275 stores. The company closed about 30% of its stores and focused instead on e-books and non-book products- seeking to expand Borders.com. But eventually, the inevitable happened and Barnes & Noble bought out Borders for $13.9 million.

With the amendment of the Bankruptcy Act of Hungary, from 1 March 2012 the legislator has significantly expanded the scope of such circumstances when the unlimited liability of the former shareholder of a company can be established. The present article wishes to highlight those circumstances when the unlimited liability of the former shareholder of a company can be established and the ways how such liability can be avoided.

When it seems impossible to pay off your student loans, bankruptcy often seems like it should be a solution. We get calls inquiring about this fairly frequently. Unfortunately, bankruptcy is rarely a solution for delinquent college loans because federal law does not allow student loans to be discharged in bankruptcy . . . in most cases.

Businesses fail for many reasons but one of the main problems that may plague a business is bad debt. If you enter into contracts that turn out to be a bad deal, if you have an investment property that significantly declines in value or if you borrow money at too high of an interest rate, this can make it impossible for your business to become profitable even if you have a solid product and a good customer base.

In contrast to other countries, debt collection is mainly performed by lawyers and not by collection agencies in Albania. Consequently, lawyers in Albania undertake to perform the task of recovering debt for their clients; this naturally leads one to conclude that lawyers are skilled and experienced in the collection of debt.

Your credit report and credit score are very important assets for you to protect. If you are reading this article, you probably have had a catastrophic event that has caused you to experience financial problems which have seriously hurt your credit and your credit score.

There are differences between bankruptcy and loss mitigation when it comes to solving your mortgage problems. A Broward County foreclosure attorney explains. When you are facing foreclosure, you may consider alternative measures such as bankruptcy or loss mitigation. It is important to understand the differences in evaluating which option might be best for you.

Several years ago, a fellow bankruptcy lawyer told me that our job as bankruptcy lawyers is to get our clients to tell us all of the "Dairy Queen Law" that they know. Several years ago, a fellow bankruptcy lawyer told me that our job as bankruptcy lawyers is to get our clients to tell us all of the "Dairy Queen Law" that they know. “Dairy Queen Law” is all the bankruptcy law that the clients learned about at the local “Dairy Queen” from friends, family members, waitresses and other patrons.

When you fall behind on your bills and owe everyone in the world money, chances are your phone will be ringing all day with creditors looking for money. Once you are in a similar situation to the one described, it quickly becomes overwhelming. Not sure where to turn? Consult a debt relief expert and find out your options. An experienced bankruptcy attorney can assist you while trying to get creditors to stop harassing you and your family.

While it may seem like you are getting more for less, paying the minimum balance on a credit card could leave you paying hundreds more than the item was originally worth. The way credit card companies make money is by getting you to pay interest in items that you purchase with their cards. One of the most important things to consider when making payments toward your credit card balance is “what is my interest rate?”

A pledge is a form of real security giving the creditor (“pledgee”) proprietary rights over named property belonging to the debtor (“pledgor”). The pledgee has the right to retain those proprietary rights over the pledged property until an obligation (for instance payment of a debt) is discharged and the property is then restored back to the pledgor or alternatively...

The Insolvency Law, 22/2003, July 9th, establishes that is in insolvency situation the debtor who cannot afford regularly its required obligations. The insolvency declaration should be requested within the two months next to the date in which the debtor has known its insolvency situation, supposing that it exists when some of the causes of the necessary insolvency declaration happen:

Bankruptcy is a viable option if you cannot pay your debts and support your family. If creditors are calling you at home and at work, writing you threatening letters or even filing suit against you, a bankruptcy filing can stop these things and give you breathing room to begin a fresh start.

To draw an analogy, think of a burst pipe in your kitchen — water gushing everywhere, running into the next room and ruining your rugs and furniture, and creating a large mess. You want to bring in a plumber who can fix the problem at the source, not merely put a Band-Aid on it. We all know this is the right way to go about it because we know how it plays out if we do not — the numerous plumber visits, the time taken off from work to meet the plumber, the mess you’re left to clean up.

In Seattle, it is possible to be arrested for driving under the influence of alcohol and to face criminal sanctions based on your refusal to take a blood alcohol test. A blood alcohol test, or a BAC test, is a test to determine if you are driving when over the legal limit. If you refuse this test, you need to call a DUI lawyer Seattle right away since you refusal can have serious consequences.

Having a car is a necessity in this day and age, but unfortunately cars can sometimes be very expensive and you will almost always need to take out a car loan to buy yourself a vehicle. Cars also lose value quickly, meaning that you may find yourself owing more on your car than what the vehicle is worth, or unable to sell the car and pay off your loan if you fall on financial hard times.

Florida Statutes (2011) §§559.55-559.785, also known as the Florida Consumer Collections Practices Act, is designed to help protect consumers from illegal practices by collection agencies. Those who violate these laws could be held criminally as well as civilly responsible.

Statistically the majority of people that graduate from college have some sort of student loan debt. Many of these same people have also been plagued with credit card debt as well making life extremely difficult for trying to get out from under the large burden of having combined credit card debt and student loans.

Please highlight any main trends or shifts in the current Ukrainian financing market? Due to limited or no appetite for Ukrainian risk and global finance markets volatility, capital markets and traditional bank lending are no longer easily accessible to Ukrainian borrowers (subject to few exceptions). At the same time, supply of ECA-backed trade financing continues to be available and trade financing seems to be active this year as well.

The manner in which a lending transaction is structured is critical to the overall deal success because it has an impact on: the deal risk assessment; security package reliability; the total cost of financing (e.g., interest rate, commission/fees, taxes/duties payable); deal execution speed; and “post-closing” matters (e.g., manageability of reporting requirements, covenant compliance, debt servicing, etc.).

When consumers incur serious credit card debt or other unsecured debt and realize they need the help of a debt settlement company or person, the worst thing they can do is choose one that requires them to give them money to keep "in trust" as this action has caused many consumers considerable heartache and even more financial distress.

Being in financial distress due to credit card or other unsecured debt, can puts a lot of stress on many Americans and most of those people seek out the help of an honest and reliable debt settlement company. Unfortunately, a lot only find dishonest and unreliable providers who will not disclose any information about themselves or the service they provide.

Successful debt recovery in Greece is dependent on many factors; a creditor must choose carefully which law firm will handle his debt collection case, in order to ensure successful collection. - Out-of Court Debt Recovery - Debt recovery in Greece is mainly handled by law firms; while debt recovery agencies do exist, the relevant legislation is fairly recent providing for special requirements for their establishment and operation, and, thus, are not so common in Greece.

Can Members of the Military File for Bankruptcy? In short, YES! Individuals in the military are afforded the same rights as the rest of us regarding using bankruptcy protection to keep from losing their home and possessions. Filing bankruptcy may interfere with some high profile or high level security jobs that may become available to them through their branch of the military, however, there is nothing stopping an active military member from filing for ch. 7 or ch. 13 bankruptcy protection.

Facing foreclosure is never easy, but there may be alternatives. If your lender is not willing to negotiate short sales or a loan modification, filing for bankruptcy may be able to help you avoid foreclosure. Many American families are unable to keep up with their mortgage payments. In some cases, money lenders are willing to let their borrowers file for loan modification or short sales.

Many Californians who are contemplating bankruptcy do so when the creditors' calls start coming in. While filing for personal bankruptcy is a legitimate solution if personal debt has become far too insurmountable, many Californians will be glad to know that debt collectors may only go so far in trying to procure outstanding debts from them. This is important for those who decide not to file for bankruptcy, as they could face numerous aggravating contacts from creditors for long periods of time.

Debtors often to not fully understand the rights granted to them by the bankruptcy code upon filing a bankruptcy petition with the court. One of the most important rights is the right to be free from collection attempts by creditors after the bankruptcy petition has been filed. The automatic stay allows to the debtor to carry less of a burden from mounting debt by barring creditors from attempting to collect a debt while the bankruptcy petition is being processed in the court system.

A bankruptcy will always be considered a very negative event by your FICO score. How much of an impact it will have on your score will depend on your entire credit profile prior to filing bankruptcy. Filing for bankruptcy in Arizona will have a negative effect on your credit. While there are many things to consider when considering filing for bankruptcy, you can expect it to impact your score for as long as the bankruptcy is listed on your credit report.

Celebrities and Bankruptcy. How Rich People File for Bankruptcy too. Do famous and rich people ever file Bankruptcy? YES! Famous People Who Have Filed Bankruptcy. How is it that seemingly “rich” celebrities, athletes, business leaders, and seemingly successful people are declaring bankruptcy? What’s the deal?

From the moment you are sued, your debt is growing. Cardholder agreements and other loan documents all contain language making you responsible for creditors’ legal fees and expenses. Put another way, you are paying them to collect money from you.

Unfortunately, one of the leading causes of personal bankruptcy is divorce. This reflects the ugly reality that, after a separation, income remains the same but there are typically increased housing and living expenses. Add to that the legal expense of the divorce itself and many people find themselves in a financial black hole following a difficult emotional crisis. The good news is that bankruptcy can give you a fresh start and a higher degree of financial separation from a former spouse.

How to handle credit cards and avoid filing bankruptcy. Sometimes too much credit card debt forces a person into filing for bankruptcy. If credit and credit cards are handled properly an individual can avoid having to file for bankruptcy protection to alleviate the burden of overwhelming credit card debt.

It is a myth that you won't be able to get credit after filing for bankruptcy. Some people are mislead into believing that you won't be able to get credit for up to 10 years after filing for bankruptcy protection. This is simply not true. Filing for bankruptcy has always had a stigma about it. Many people look at it as a way to cheat the system and not pay your bills.

Life after filing a bankruptcy in Arizona can seem uncertain and a bit scary. Rest assured that filing bankruptcy whether it be a chapter 7 or chapter 13 is simply a way to get relief of debt and start over. Once your bankruptcy has been discharged you will soon be able to start rebuilding your credit within months.

Why would you need an experienced CDO attorney? Unfortunately, investors are frequently taken advantage of or "scammed" by brokers and financial advisors, even in the area of collateral debt obligations. As these asset-backed securities were found not to be diversified enough when the stock market started to collapse, it became apparent that these CDO's were being sold by investment bankers, who then used the money to themselves profit.

“The Act to Amend of Check Law” numbered 6273, accepted on the date of 31.01.2012 by the Grand National Assembly of Turkey has been entered into force by publishing in the Official Gazette numbered 28093 and dated 03.02.2012. This Law brought radical amendments with respect to check which is one of the most important and vital payment instrument of the commercial life. The prison sentence concerning bad check has been abolished.

With so many American individuals and businesses filing for bankruptcy in the recent years, abuse and fraud have become rampant. To curb such abuse, bankruptcy reform laws have recently been enacted, placing restrictions on many Americans. In 2005 the United States Congress passed a new legislative act concerning U.S. bankruptcy law. This new act is called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).

What is meant by a joint petition when dealing with a bankruptcy? Description of filing a joint bankruptcy and advice on when to use a joint petition while filing chapter 7 or chapter 13 bankruptcy. What is a “Joint Petition” when the topic is filing for chapter 7 or chapter 13 bankruptcy? A joint petition in bankruptcy is the filing of one single bankruptcy petition by an individual and his or her spouse.

A knowledgeable bankruptcy attorney is expert not only in the federal bankruptcy laws, but also in the laws that are specific to the filing of bankruptcies in your particular state. Rather than look at bankruptcy as a frightening and daunting process, you should understand that your right to seek bankruptcy protection is granted to you by the United States Constitution.

Read more about one of the laws that protects you from credit discrimination. Enacted into law in 1974, the Equal Credit Opportunity Act was a way to protect individuals from discrimination by creditors. A creditor is any individual or business to whom money is owed. For example, if you take out a loan with a particular bank, that bank has become your creditor. Creditors do have the choice to accept or reject individuals from taking out lines of credit with them.

One frequent topic of discussion this time of year is the way bankruptcy will affect tax refunds. Some people assume that all future refunds may somehow be set off against what they owe; others assume that the government may keep it for some period of time. It is important to make sure that you know what can happen to a tax refund, both to minimize the impact, and so you can plan accordingly.

Chapter 11 bankruptcy is not just for large corporations; individuals can also file Chapter 11 to achieve freedom from overwhelming debt. If an individual can afford the legal fees, a Chapter 11 bankruptcy offers many advantages over a Chapter 13.

If you are drowning in debt, often the best and only real solution to your problem is to file bankruptcy with the help of a bankruptcy attorney Seattle. While you may be offered other "solutions," by companies who promise to make your debt problems go away, unfortunately you will often find yourself in a much worse position if you take advantage of these offers than you would be if you just got help from a bankruptcy attorney Seattle and filed bankruptcy in the first place.

When you file Chapter 7, rights to some assets must be protected or you could risk losing them during discharge. A Texas bankruptcy lawyer can help you deal with your responsibilities. When you file bankruptcy under Chapter 7 your rights to certain exemptions and reliefs are held up by federal and state bankruptcy laws. In order to protect these rights, you need to first make sure that you comply with all of the responsibilities you have under these laws as well.

The once popular tennis company, Prince, known for its success manufacturing oversized tennis rackets – and originally, tennis ball serving machines and other tennis products - filed for Chapter 11 bankruptcy protection on May 1, 2012 in U.S. Bankruptcy Court in Wilmington, Delaware, after years of trying to attain stability and profit through sales of its products, brands and the company itself.

Often referred to as the FDCPA, the Fair Debt Collection Practices Act was created and then passed by Congress to protect consumers and debtors from the abusive behaviors engaged in by some debt collection agencies and creditors. An extensive list of rights and protections against creditors can be found within the Fair Debt Collection Practices Act, 42 U.S.C. section 1692c.

Created by the federal government to help employed homeowners who are having difficulty making mortgage payments on their home, the Home Affordable Modification Program (HAMP) may be able to lower house payments for Arizona homeowners by as much as 31 percent of their gross monthly income. Even if you are planning to file or have already filed for Chapter 7 or Chapter 13 bankruptcy, you may be eligible for the benefits of the HAMP plan.

The Bankruptcy Court is a Federal Court that must follow Federal law and Federal Bankruptcy procedural rules. The court filing fees are set by Federal law and are uniform in every Bankruptcy Court in the country.

In bankruptcy, a debtor is required to file a petition and schedules with the Bankruptcy Court.

The length of the bankruptcy process is dependent upon several factors. An important distinction can be made between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy.

Due to unforeseen economic difficulties arising from sudden unemployment, excessive medical bills, an expensive divorce or other hardships, Arizona residents often find it necessary to file for bankruptcy. Most people only need to file bankruptcy once in their life. But when additional, financially devastating events occur following the completion of one bankruptcy, the necessity to file another one may be inevitable.

Large corporations often use bankruptcy protection when restructuring or when faced with significant drops in the economy. On Thursday, well-known Dallas based corporation Reddy Ice filed for Chapter 11 bankruptcy protection with the support of its lenders and creditors. The filing will not affect the day to day business of Reddy Ice, the largest packaged ice producers in the country.

Failure to pay rent or violation of lease agreements may result in a tenant receiving an eviction notice from the landlord.

While spouses are not legally obligated to file for bankruptcy together, there are situations where a spouse may choose to file for bankruptcy on their own. This could include when the wife or husband is the only one carrying significant amounts of debts (usually obtained before the marriage in the form of credit card debts or unpaid personal loans,) property aspects (such as whether properties are owned jointly or individually,) or community debt amount issues.

Just as the economy is struggling to recover from the mortgage crisis of the past couple of years, a new threat is looming – student-loan debt. In February, the National Association of Consumer Bankruptcy Attorneys referred to a student loan “debt bomb”. Last month, the Federal Reserve Bank of New York announced that debt had reached $870 billion. And that number continues to climb. A student graduating in 2010 owed an average of $25,000 in student loans.

When one person owns a considerable amount of assets such as money, property or business investments, this individual may feel more secure about getting married if a prenuptial agreement is filed prior to the marriage.

A child custody case in Texas may be affected negatively if domestic violence is involved. If you are pursuing a child custody case in Texas, allegations of domestic violence can have an impact. To better understand family law code and what your rights are, contact a divorce attorney as soon as possible.

Chapter 20 bankruptcy involves the discharge of personal liability as part of a chapter 7 case as well as the removal of a mortgage lien as part of a subsequent chapter 13 case. Most consumers are familiar with both Chapter 7 and Chapter 13 bankruptcy, however, most have never heard of a chapter 20 bankruptcy.

While many are aware of the unfortunate affects bankruptcy can lead to, there are a number of extremely beneficial outcomes that can be rewarded from filing. For those in extreme financial debt it can often be the only option left to turn to but may produce the effects that are needed.

In the digital age where credit card purchases are common place both online and at smaller stores, identity theft has become a household word.

The publishing industry is one that has been hit hardest in recent years.

Credit card debt is the most common form of debt in America. In 2006, the U.S. Census Bureau estimated that there were 173 million credit card holders in the U.S. These 173 million held roughly 1.5 billion cards—an average of almost nine cards per person. The same data reported that in 2006, Americans “carried approximately $866 billion in credit card debt.”

Tax day is just around the corner, and for the millions of Americans who filed bankruptcy in the past fiscal year, there are several different complications to the already complicated filing process. The ways that bankruptcy affects tax filings varies greatly depending on the type of bankruptcy—and it’s not just bankruptcy that affects the tax code for an individual who has had financial insolvency issues in the fiscal year.

According to the National Bureau of Economic Research, more than 200,000 money-strapped households will use their tax refunds to pay for bankruptcy filings this year. In better years, tax refunds have been used for vacations, household gadgets, and family splurges. Yet the NBER research, according to USA Today, “confirms what bankruptcy lawyers have long known: At the first part of the year, when Americans receive their tax refunds, there almost always is a spike in personal bankruptcy filings.”

The Bankruptcy Abuse Prevention and Consumer Protection Act was passed in 2005, and, according to the U.S. Bankruptcy Court, included a clause that allows for an “individual Chapter 7 debtor [to] file an application for waiver of the filing fee along with the bankruptcy petition.”

It was about a year ago that, according to the Illinois Statehouse News, the state of Illinois was a prime candidate to file bankruptcy in the same way as its ailing businesses, an idea that had been tossed around Washington D.C. as a solution to the country’s economic woes.

Beef products company AFA Foods announced in early April that it was filing for Chapter 11 bankruptcy protection after its beef filler products were referred to publically as “pink slime,” a campaign some politicians have decried as a smear campaign to the entire beef industry, according to the Chicago Tribune.

According to a January article published in the Illinois Times, “Illinois citizens worrying about paying off their debts might now have to also worry about being thrown in jail if they do not pay.”

Under a 2005 law passed by Congress to protect lenders, private student loans are nearly impossible to clear, even through bankruptcy. The law placed these loans in the same category as criminal fines and child support payments, and as a result more and more student borrowers are now suffering unbearable burdens of student debt with no relief in sight.

Chapter 13 bankruptcy can provide an alternative to demands by a mortgage lender for the lump-sum payment of arrears. Almost 5 years after the start of the credit crisis that spawned the “great recession,” housing continues to be one of the biggest problems faced by the American consumer.

Statutory interest is due when the debtor is in default. Bulgarian law determines when the debtor has fallen into default. It is different for the various types of commitments. Of course and in Bulgaria on overdue payments may be charged interest rate. How can we determine these rates? Is there a formula?

We are often requested by companies to conduct pre-employment background investigations. These investigations typically fall within the confines of the Fair Credit Reporting Act and California’s Investigative Consumer Reporting Agencies Act.

Education is constantly promoted as a good thing they each citizen should take advantage of. In order to obtain an education many individuals must turn to loans to meet the demanding costs. Unfortunately, paying back these costs is not always as easy as some may expect.