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Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested by creditors in an effort to recoup a portion of what they are owed; however, in the overwhelming majority of cases, the bankruptcy is initiated by the bankrupt individual or organization.
Purpose
The primary purpose of the laws of bankruptcy are: (1) to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has the means available for payment.
Bankruptcy allows debtors to resolve debts through the division of non-exempt assets among creditors. Additionally the declaration of bankruptcy allows debtors to be discharged of most of the financial obligations, after their non-exempt assets are distributed, even if their debts have not been paid in full. During the pendency of a bankruptcy proceeding, the debtor is protected from extra-bankruptcy action by creditors by a legally imposed stay. The creditor will not be permitted to continue lawsuits, garnish wages, or contact the debtor by phone to demand payment.
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New blog post: Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt Settlement Solution http://bit.ly/4Ou5E1
Invest_Money (Invest Money Stocks) Wed, 16 Dec 2009 19:44:21 -0000
New blog post: Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt Settlement Solution http://bit.ly/4Ou5E1
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ... http://bit.ly/7sKw0R
ForConversions (ForConversions) Wed, 16 Dec 2009 19:00:12 -0000
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ... http://bit.ly/7sKw0R
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getoutodebt (Lee Orton) Wed, 16 Dec 2009 15:03:20 -0000
Our credit card debt consolidation and debt relief programs provide you debt relief while avoiding bankruptcy. http://bit.ly/81hhO0
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ... http://bit.ly/8BtKIZ
DebtCrusher5 (Bob Jones) Wed, 16 Dec 2009 14:57:38 -0000
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ... http://bit.ly/8BtKIZ
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ...: 16 /PRNewswire/ -- Recognizing the.. http://bit.ly/77H5wd
SRosenCredit (Susan Rosen) Wed, 16 Dec 2009 14:52:43 -0000
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ...: 16 /PRNewswire/ -- Recognizing the.. http://bit.ly/77H5wd
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ...: Their National Debt Relief Stimulu.. http://bit.ly/77H5wd
SRosenCredit (Susan Rosen) Wed, 16 Dec 2009 14:30:32 -0000
Consumers Avoid Bankruptcy and Post-Holiday Blues with Credit Card Debt ...: Their National Debt Relief Stimulu.. http://bit.ly/77H5wd
123 Debt - Provides credit and debt related information and evaluation analyzers for individual debt analysis.
Meta Description: [ News, tips, and tools are at your disposal for your trip toward financial freedom. Our goal is to improve your credit and enhance your financial position through debt consolidation, debt settlement, mortgage refinancing, and more. Get educated. Find out more about the new bankruptcy law. ]
About.com: Credit/Debt Management - Credit basics.
Meta Description: [ Credit / Debt Management provides advice and tips on establishing, improving, and repairing credit. Readers will gain an understanding of how credit works, obtaining new credit, avoiding debt, and ideas for getting out of debt. This page is for everyone who uses credit. ]
Advertisements Promising Debt Relief May Be Offering Bankruptcy - Consumer alert from the Federal Trade Commission, pointing out that some offers to consolidate or eliminate debts may involve bankruptcy, which has serious long-term consequences.
Meta Description: [ Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. ]
Credit/Debt Recovery - Discusses debt recovery and credit related issues.
Meta Description: [ Blogging the Credit/Debt Recovery Industry ]
Debt Calculator Online - Offers different debt calculators.
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Debt-Tips.com - Information on getting out of debt and saving money.
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DebtSmart.com - Provides articles, software and information on financial management and debt.
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DebtSteps - Articles on debt relief, and credit management and repair.
Meta Description: [ Debt relief steps are important, and lots of options are out there, get free help with comprehensive reviews of debt solutions so you can choose the right one for you. ]
DebtWizards.com - Tips for managing credit and reducing debt.
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GetDebtFree.com - Debt management products and services, from Debt-Free Prosperous Living, Inc.
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HealDebt.com - Offers tips and advice to accelerate debt reduction.
Knee Deep In Debt - Self help, debt consolidation, credit counseling, bankruptcy.
Nolo - On-line encyclopedia about debt and bankruptcy, with sales of related books and products.
Meta Description: [ Decide whether Chapter 7 or Chapter 13 bankruptcy is for you, and keep your home and car while getting creditors off your back. ]
NPR Special Report: A Nation in Debt - Describing America's complex relationship with debt. Compare your level of debt with the national average, and discover more online resources.
Meta Description: [ American consumers now owe about $1.7 trillion in credit card and other debts -- an amount roughly equal to the gross national product of England and Russia combined. In a multi-part series beginning today, All Things Considered investigates America's complex relationship with debt. Compare your ... ]
Smartmoney.com: Debt Management: Help! I'm Drowning in Debt - Article discusses reputable and disreputable credit counseling agencies as well as other options for handling a large debt load.
Meta Description: [ The creditors are calling. The bills are mounting. The panic is swelling. Here's how to get back on track. ]
| Nov. 25, 2009 - Murray Morrison - Debtors Assistance Society | |
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