bankruptcy

This article orginally featured at Charlotte Home Mortgages. Unathorized duplication prohibited. Ask The Lender: After a Bankruptcy Question: I went through bankruptcy back in January and wonder now what chances, if any, I have to get a home. This may be completely fruitless at this…

im unemployed and have a gambling addiction. Ive maxed out my credit cards, i owe 35,000.00 currently. Is bankruptcy an option for me ? Ive run out of options, im 27 yrs old and all i have is debt. i would like a fresh start. Posted from: Quebec

If I quit my job in Montreal and moved to Toronto to look for a better employment, however currently I am unemployed , can I still declare bankruptcy ? Will i be able to keep at least 2000-3000$ savings for current living until I find the job? Thank you Posted from: Quebec

Hi there. I have had several student loans for each part of three degrees with each loan being at a different period. I finished the third in October of 2002 and was in school for another part in September of 2005 but did not finish and left after a few weeks due to not having [...]

Thinking about filing bankruptcy? This is without question one of the most difficult decisions anyone can make in their life. Having tried your best to dig yourself out of debt or negotiate with your creditors to keep yourself out of having to file for bankruptcy without success, you may be finding yourself at [...]

Bankruptcy can be an ugly word and it puts fear into many people. From a been there done that person I can tell you that bankruptcy is not all that bad. Our family had over $50K in credit card debt and was drowning in a sea of bills. At the time I also had a small business and if it wasn't for the business we would have surely sunk. The business also enabled us to file for chapter 13 bankruptcy

hello, If some one filed for bankruptcy would there be any problem going to college for six month paid by Service Canada or paid by a famely member with in the 9 month waiting period? thank you inadvice waterloo Posted from: Ontario

I filed a consumer proposal in April of this year and I`m currently making my monthly payments toward it. I have significant student loans that will become more than 7 years old this fall. Because when I filed my proposal the loans were less than 7 years old, my understanding is that they will survive [...]

Today GM CEO Rick Wagoner gave a speech at the Dallas Chamber of Commerce and took the opportunity to dispel some rumors himself. He acknowledged a belief that the consumer shift from trucks and SUVs to cars is “by and large, permanent,” but he pointed out that despite the sagging U.S. auto market, GM’s global growth [...]

Barack Obama called for revisions to the Republican-led bankruptcy reforms passed in 2005.  The proposal focused on assisting individuals declaring bankruptcy due to debts related to health care/medical procedures, military personnel and their families facing debt due to extended deployment, frequent moves, or predatory lending, and protecting the elderly against losing their home in bankruptcy.

I graduated University in April 2002 and am thinking of declaring bankruptcy in Sept or oct. 2008; beacuse i read somewhere while researching bankruptcy and student loans that i could include them if they reached 7 years old while was in bankruptcy. Is this true or should i wait unit i have reached the 7 [...]

By MICHAEL FELBERBAUM Associated Press Writer RICHMOND, Va. (AP) _ Imprisoned quarterback Michael Vick filed for bankruptcy protection while serving time for federal dogfighting charges, saying he owes between $10 million and $50 million to creditors. Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport News on Monday. The seven largest creditors listed in the court [...]

I have moved to the US from Canada but have significant debt in Canada including CCRA, Student Loans and Credit Cards. I have no assets in Canada but have purchased a house and vehicle in the US. Can I file for Bankruptcy in Canada while I am living in the US? If I do will [...]

Due to inflation, big budget and increase in oil price our company is filing for bankruptcy in Maldives, Dubai, UK and Singapore. Our lawyers who are married to the daughters of the Chief CEO say that we tried our best by hiring an internationally renown PR firm to maintain a blog. But due to recent [...]

I had a credit line together with my wife wich was paid off back in December 2007. After that it was closed. I opened a new line of credit (new account) under my name January 2008. I have a credit card that I am the primary card holder and my wife was teh secondary card [...]

My wife is 7 months pregnant with our second child and about to go on Maternity leave. My wages are going to start being garnished next pay and we have no choice but to file jointly as we have 55000 total debts from credit cards and line of credit dept. My wife’s income and the extra child [...]

Filing for bankruptcy may provide an instant relief to the people in debts who are been regularly threatened by their creditors to pay their bills. You can get your debts discharged after filing bankruptcy. Though it may stop the creditors and collection agencies calling you repeatedly to pay your bills, it can also cause a [...]

From the Oregonian:The stubborn real estate slump has forced Trinity Carpet Brokers, a major regional supplier of carpet and flooring, into bankruptcy. The Milwaukie-based company filed a Chapter 11 reorganization in late June.Barry Caplan, a Portland bankruptcy lawyer working for Trinity, said the company's ability to borrow money was restricted by the failure of two large customers to keep curre

Is it really possible for you to get auto loans after bankruptcy? After all, you know how lenders always look at your credit history first and then decided whether to accept or not accept your loan request.So how it is possible that someone with a very bad credit succeed to qualify for an auto loan?The good news is, it is totally possible to get bankruptcy auto loans even with the worst credit - i

Caruso Homes, a builder based in Crofton Maryland since 1985, filed for Chapter 11 bankruptcy last week – but NOT because of mis-management, poor judgment, or operational issues.  Like so many other businesses, they’re affected by the slump in today’s real estate market. The credit crunch has slowed sales at developments around the beltway in Virginia and Mary

Hi there. I have recently lost my job in the local paper mill here in my little town. I now have to leave the province to find work but I won`t be making anywhere near the amount of money I had made previously. I think bankruptcy is inevitable. We would like [...]

Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor [...]

I just declared bankruptcy due to an impending divorce and significant financial costs associated with it. My question is what would happen if I won the lottery during my period of bankruptcy. I understand any winnings would be held as part of my assets. However, once all of the debts are [...]

Many people fall on financial hard times, regardless of the causes. Although they may owe substantial amounts of cash to creditors, the IRS may also decide that they, too, must be paid on tax debts. (...)

I delared bankruptcy in October 1998 and had student loans included, I have been out of school for more then 10 years. Are these loans automatically dischrged after 10 years or do I have to go to court to get them discharged????? Mike Posted from: Ontario

Bankruptcy can be emotional and embarrassing. You may have a hard time looking your children in the eye, and feel that you have let everyone including yourself down. The main thing is to promise yourself to learn from the experience, and try to change your life so that you don’t end up back in the [...]

i just filled for bankruptcy this year. i got a trustee who did all the paper work and i signed all the documents. Every month i have to pay her a certain amount of money. I currently work a full time job and i live on own. Its not a well paying job but i [...]

Via WDKX: A California business man, seeking compensation for work done to Lil Wayne's 1999 Bentley Arnage, officially filed a new lawsuit against Lil Wayne last Tuesday- the same day Tha Carter III was released. Le Marck de Andre and his Silicon Valley law firm are seeking $123,800 plus an additional $200 per day from Lil Wayne, Cash Money Records and Young Money Entertainment for failure to set

I have been fortunate to represent a number of U.S. Bankruptcy Trustees in the sale of Honolulu real estate. I find that many people think that the bankruptcy sales process is the same as a foreclosure. In some ways it is similar and in other ways it is totally different. Rather

I was wondering if you have to be employed to file bankruptcy? I am having financial problems because I have had to recently go on Social Assistance and E.I. so I am having issues with paying my past bills and current bills so…please help me? Posted from: Ontario

It`s been two year since i`ve been discharged. I got a HorizonPlus Secured Credit card immediately after my discharge. My beacon score is above 700 now. How long do i wait before applying for a real credit card? Posted from: British Columbia

Your opinion would be much appreciated. I currently have $160K in Fed Tax owing based on 6 years of not paying my taxes due to deaths in the family and marital issues, and approx $55K in unsecured credit card owing (multiple CC). If I file for bankrupcy is there any reason that [...]

Business Turnaround and Bankruptcy KitAuthor:John VenturaFormat:PDF 2.3MBPublisher: Kaplan Business Number Of Pages: 224 Publication Date: 2003-04-14 ISBN-10 / ASIN: 0793160448 ISBN-13 / EAN: 9780793160440 Recent economic downturns has transformed the American dream of owning a business into a virtual nightmare for many American business owners who are experiencing serious financial trou

I am drowning in debt and have talked to credit counsellors who ALL suggest that I claim for bankruptcy. I recently agreed that their suggestion is probably best for me, however, a new situation has come up and I`m desperate to know what to do!! I am married but my husband has taken a job [...]

Answer - YES!  This is one of those rare questions though that needs a complete explanation and does come with an asterisk. Having any or even all of these items on your credit report does not effect approval, BUT, if you are in bankruptcy, it must be discharged prior to getting a reverse mortgage. If you are in foreclosure, let your loan officer/broker know immediately!  It will actuall

Bankruptcy also known as Insolvency, Impoverishment or Economic failure. Why people become insolvent. Is it because of excessive or indiscriminate borrowing. Are needs of people are growing. Chase for easy money. Lack of proper financial planning, indiscriminate borrowings through Credit Cards etc., leads to bankruptcy. People should limit their desires according to their earnings or budget. Every

I recently received my discharge from personal bankruptcy. At this point I`d like to run a small business and see where that goes. How long does one have to wait after discharge before they can run/operate a business? I thought I read somewhere the time was two years, I hope that`s not so though. And [...]

A new $126 million (if not higher) Federal Court building is being constructed, even though there was no real need for it.  It is much larger, and a great expense to taxpayers, than the current Federal Court building. After considering a number of downtown locations, the U.S. Bankruptcy Court has decided to stay put. [...]

If a company files for bankruptcy, you can no longer sue it. The lawsuit against the company is put on hold pending the bankruptcy proceedings. In most asbestos-related bankruptcies, the bankruptcy judge reviews the companies’ finances and liabilities and sets up a trust fund to compensate asbestos victims. Such trust funds might take a number [...]

My ex has claimed bankruptcy. He owes back support dated back to August of 2006. I know that declaring bankruptcy won`t resolve him of those arrears, but could his trustee be able to stop Family Response from enforcing the court order until he is discharged? Also, he claimed bankruptcy in February, in [...]

I have not been discharged of my bankruptcy that I filed in 1999. If I start it up again, and the legislation changes to let`s say 7 years for which I have been out of school for. Will I be able to include this in my original bankruptcy filed in 1999? Posted from: Manitoba

I keep reading that if you receive an inheritence, lottery winning, etc, you will lose it to the bankruptcy. What I wanted to clarify is, if the windfall amount is MORE than the bankruptcy (my bankruptcy included just under $35000 in debts), do I really lose ALL of the windfall, or do I get [...]

David Oringdulph built Legend Homes over four decades by building middle-class housing in Willamette Valley suburbs. With home prices rocketing up, Oringdulph, the company's founder, expanded to red-hot Southern California. He also bought land for the first time in Bend, Oregon's boomtown, and returned to fast-growing Vancouver. Then the housing market tumbled. All three land deals fell apart. L

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts.

Confused about the recent LandSource bankruptcy in California? Here's a good synopsis from BuilderOnline.com:Large California property developer LandSource Communities Development LLC announced late Sunday that it had filed for Chapter 11 bankruptcy protection. The entity is structured as a joint venture between Lennar and LNR Property Corp., each of which have a 16% stake, and MW Housing Partne

The rumor mill was grinding away last week, now we know why.From the Oregonian:Legend Homes, one of Oregon's largest home builders, filed Chapter 11 bankruptcy today after its parent company made three ill-timed land investments in once hot housing markets.David Oringdulph, Legend's chief executive officer, said land purchases he made in Vancouver, Riverside, Calif., and Bend prompted the bankrupt

If I file for personal bankruptcy, can any creditor/fed gov`t/trustee or even the bank close my bank acct due ONLY to the fact that I have filed for personal bankruptcy ? Thank-you Posted from: Ontario

If you have gone through a bankruptcy, you are probably having problems getting finance and not being able to get finance when almost everything in commerce is based on credit, can turn out to be very stressful. Nevertheless, if you are a homeowner, you can get finance by refinancing your home loan while at the same time helping you raise your credit score.

By: Amanda Hash There has been warnings issued by the Federal Trade Commission lately that advise consumers to be alert for debt relief programs that really imply filing for bankruptcy in order to obtain debt elimination. The consequences of such drastic solutions are long lasting and very negative and thus, you should be extremely careful when selecting the agency providing debt relief. This has

There are the 24/7 Wall St. odds that several companies will have to file for Chapter 11 between now and the end of the year. These will become a permanent... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

$200+ million in career earnings from Evander Holyfield are now gone. He can't make child support payments to his past female companions. His $10 million mansion in Atlanta is being foreclosed. And he owes millions to various collectors and contractors. As big of a surprise as this may be to some, people have predicted this for years, especially after he decided to hopelessly resume his career

i was wondering if you are in finacial trouble why would you choose a consumer propasal to me you might as well start with a clean slate .. i reccently went bankrupt owing 60000 in debt my bills were all up to date but the trustee recommended me to go bankrupt Posted from: Ontario

if 2 months ago before filing for bankruptcy i bought some furnature on my visa will i have to return the furnature? also what about groc i bought on my visa days before i file for bankruptcy? is that considered fraud if i buy groc on a visa knowing i may be filing bankruptcy in [...]

If you have filed for bankruptcy or are planning to, you should know there is a mountain of paperwork involved.  You will need IRS help to figure out the taxes and methods of calculation for taxes you will owe as a result of filing for bankruptcy.  Fact: filing for bankruptcy does not mean you won’t owe any taxes for that year. (...)

For some reason many Americans choose to ignore a pending personal debt problem. Possible many people believe that there is no escaping their debt situation, so they sit by while their debts deepen.

BY: LISA R. WILSON A life without credit cards. Ay-yi-yi. Sounds like a horror movie for most people. Luckily, if you do have to file for bankruptcy, you may be able to keep some of your credit cards. It depends on what your credit card balance is at the time of the bankruptcy, what [...]

Oregon’s largest lender continues to back away from the struggling housing market; the latest victim is Legend Homes.From the Oregonian:Legend Homes Corp., one of Oregon's oldest and biggest homebuilders, has survived three recessions with a reputation for paying subcontractors on schedule on the 10th day of each month.But Tualatin-based Legend last month stopped paying about 60 subcontractors a

Bankruptcy can be a scary word if you let it. My family went through chapter 13 bankruptcy in 2002 – six long years ago. Our story of why we had to choose bankruptcy was rather a common one. We were a 2 income family and the major income earner became permanently disabled with a lifelong illness that only gets worse. Now down to one income in the most expensive place to live in the USA (

I co-signed a business ( sole prop ) loan. Am I liable if the borrower declares bankruptcy ? Can the Bank or anyone else come after me ? Can the Bank or anyone else come after me ? Thanks a million for your input……. Posted from: Ontario

My husband is from Ontario Canada but lives in the US now. He has a company In Canada that might go into bankruptcy, how will that effect him in the us? he does have a green card in the US and his a Canadian citizen. will his personal assets here in the US be at [...]

Fellow home based business entrepreneurs and online money makers working from home, I’m sure we all agreed that ‘bankruptcy’ is such a nasty word!Nobody wants to be declared as bankrupts, that’s for sure but in my opinion, it would be wise if we get to know more about bankruptcy so that we can use the knowledge to save and protect our financial livelihoods. Believe me, getting to know bank

For those who have not noticed, Sirius (SIRI) and XM Satellite (XMSR) are trading near multi-year lows. That is odd since many investors believe that the FCC... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Can a person declare bankruptcy while unemployed? I was laid off in the first week of May and I have started recieving EI. The EI payments will end next April. I have about 120K in debt. About 75K of the debt is covered by credit insurance which pays the minimum payment (3% [...]

The business that I own will most likely go bankrupt, the business has bank loans (for the business start-up) the 2 owners have signed personal guarantees, I have credit cards and loans that I pay without any problems, can I get protection from only one selected creditor ie the lending bank from the business? Posted from: [...]

I filed for bankruptcy 6 months ago and my lease is up at the end of june. I wanted to get into a more economical fuel effecient vehicle. The buy out on my vehicle is 15990 and the over km payment to the dealer is 10990. I have asked to keep the [...]

By: Liz Roberts After the crisis of bad credit and filing for bankruptcy, perhaps you may feel intimidated of starting up new transactions. For instance, you may feel disheartened about purchasing a new home because of your bad credit history. However, even if you have a record of bankruptcy in your credit report, there is still a chance to make a new start.Today, there are mortgage companies who

By: Graham Lavery Bankruptcy is a very important factor with a huge impact on your credit history. If you have bad credit, your possibilities for getting a loan are diminished seriously. When you file for bankruptcy, you have no money left for repaying it.There are some things you must expect, when you file for bankruptcy. A bankruptcy judge or a trustee will ask you about the conditions that led

[NEW YORK - Wednesday] - by Devon Melk. Rumors are now running amok that the 2nd most powerful website on the entire Worldwide-Web may file BANKRUPTCY, with the deadline set for this December; being the date of both discharge and dissolution in a Federal Court of Law. This would come as a SHOCK to investors and "Googlers" alike who both profit and benefit from the use of the World's largest and m

A bankruptcy lawyer is there to represent and protect his client during the bankruptcy process; this is likely to be a difficult time for most people in serious debt. Whilst filing for bankruptcy requires a little more work and preparation than it did before the changes in law, most of that work will fall on [...]

I declared personal bankruptcy in 1998. How can I get documentation this proves this claim? I`ve moved several times and don`t recall where I left my old personal files on this matter. Posted from: Ontario

I filed bankruptcy due to bad credit card debt and a foreclosure debt of $210,00. I gave the trustee all information that I had but I feel there is some information missing. How do I obtain the rest of the debt that I know is out there to give to my trustee? There was a [...]

In the mid 80`s I received cash from my father and gave him a Promissory Note back in exchange. In 1994 I went into personal bankruptcy. My Father was aware of this and it was mentioned by the Receiver to the Judge. A notice to all creditors was published in the Globe & Mail and [...]

My local applicance store was vacated from the premises (non payment of rent), disconnected their phone, and essentially disappeared. There were no calls to me to advise about delivery of my appliances that I already paid for. I`m now out a significant amount of money. How do I find out if [...]

Bad credit is a widespread problem in the UK. The number of people filing for bankruptcy is increasing. A bad credit history includes arrears, default, county court judgments, bankruptcy, etc. A bad credit history haunts the borrower for a very long time. It becomes very difficult to obtain a bad credit loan. Even if you manage to get one, the lender will charge a very high rate of interest. You a

If you have a don`t pay for 1 year type of credit card (e.g. a Brick card) and file for bankruptcy before the payments have started, can the company come in and repo the items you `bought` are what if anything can the do? Posted from: British Columbia

Personal BankruptcyBy: Paula BartonIs bankruptcy an option?This is something that you should really only consider as a last chance option.Although it is possible to declare bankruptcy and still rebuild your life afterwards, you need to know the full truth before you make any solid proceedings in this direction.Bankruptcy should never be a first option for anyone looking at debt and credit problems

when a man goes bankrupt,and the house wife has to do the same, because she was forced to become his guarantor. Is it true that their small children aged four and six automatically come under the category of Bankrupts? It is a point of great dispute. Thanking you.

I filed my bankruptcy and I had to file my outstanding union gas account.I am now going to be moving into my new residence , We were staying with family so my question is how is this going to effect me getting gas at our new place. Posted from: Ontario

According to the Fair Credit Reporting Act (FCRA), a consumer reporting company is officially permitted to list accurate negative information on a consumer’s credit report history for seven years (7) and bankruptcy information for ten (10) years. Information regarding a lawsuit or judgment against you can be reported for seven years or until the statute of [...]

I filed for bankruptcy 3 and a half years ago and got discharged. I am married and owned a house. The trustee had the house appraised and the equity on the house was only $9,000 at the time (3 years ago.) One of the creditors whom I owed about $20,000 insisted that I should pay [...]

Unfortunately, we’re going to see this happening more and more often in the months and years to come. According to the San Francisco Chronicle: The city of Valley officially entered bankruptcy today, when City Manager Joe Tanner filed papers declaring Chapter 9 bankruptcy for the financially troubled North Bay city. The petition, filed in U.S. Bankruptcy Court in [...]

i wish to get a car lease. As my car payment is too high to maintain.My bank has offered to take it back. Am I breaking any laws applying for a lease while in bankruptcy. as I need a lower payment and a fuel efficient vechicle. Posted from: Nova Scotia