Whats your opinion of bankruptcy?

Whats your opinion of bankruptcy?
by

1 Answer

Answer :

She should work with a group like this: http://www.moneymanagement.org/
by

Related questions

Without google, do you know one of the main reasons for Bankruptcy in the US?

Description : Without google, do you know one of the main reasons for Bankruptcy in the US?

Last Answer : Medical bills.

Detroit first... Who's next for US City bankruptcy... Chicago?

Description : Detroit first... Who's next for US City bankruptcy... Chicago?

Last Answer : answer:I'm sure that Chicago has its problems, aside from the gun violence in the strictest-gun-laws-in-the-nation idiocy (and other things that go along with that kind of blindness to facts), and ... laws who live in Michigan that it was not uncommon in the late 1960s when they lived near there.)

Why can't the Federal Government declare bankruptcy and apply for a Chapter 13?

Description : Why can't the Federal Government declare bankruptcy and apply for a Chapter 13?

Last Answer : answer:The U.S doesn't need to reorganize it's debts. Besides, since it can create money, it can pay its debts. And it can raise revenue if it had the political will to do so. If the U. ... our economy. Without fiat money, people would try to barter with gold, but the value would not be consistent.

Can someone file bankruptcy from home?

Description : Can someone file bankruptcy from home?

Last Answer : Sounds like practicing law without a license.

Will BP file bankruptcy to avoid restitution?

Description : Will BP file bankruptcy to avoid restitution?

Last Answer : BP will do as they please and there's nothing anyone can do about it, they are one of the biggest most important corporations to the industrial world, they aren't going bankrupt, feigning bankruptcy or ... in India, and set the proper tone for compensation, then you can expect BP to follow suit.

I'm a former GM employee. If GM files bankruptcy, will I lose my pension?

Description : I'm a former GM employee. If GM files bankruptcy, will I lose my pension?

Last Answer : That’s what happened to the airlines. Pension’s were lost or went to pennies on the dollar. Sorry and good luck. It may get bad.

Will the USDA report to the credit companies that my home loan was paid?

Description : Will the USDA report to the credit companies that my home loan was paid?

Last Answer : answer:@Dutchess_III If you reported under chapter 7/13, reporting regulations change when debt is discharged via bankruptcy. The fact that you paid off the loan will unfortunately not reflect on your credit rating moving forward. Here is a quick link with more info.

Shouldn't bankrupt Stockton CA pay bondholders first?

Description : Shouldn't bankrupt Stockton CA pay bondholders first?

Last Answer : I think the bondholders should be treated like any other creditor and paid the same as any other secured creditor. If they get 50 cents on a dollar the bondholders get 50 cents. The bonds ... should have done their homework and looked at the credit rating or the financials if they were available.

Are there firms that specialize in managing human capital aimed at revitalizing distressed businesses for near-term viability and long-term improvement?

Description : Are there firms that specialize in managing human capital aimed at revitalizing distressed businesses for near-term viability and long-term improvement?

Last Answer : There are definitely people that do that kind of thing, but the impression I get is that they are individuals with years of experience who become independent business consultants.

What does it actaully mean when you are bankrupt?

Description : What does it actaully mean when you are bankrupt?

Last Answer : Company/bank often borrows and/or lends money. When they owe too much and it becomes clear that they can no longer pay back to all those from whom they borrowed it, the company goes bankrupt. ... get back money suffer most. They can claim, however, through legal proceedings. But, it takes time.

Did Flutherites know that Active Service members can delay foreclosure and divorce, and other civil actions?

Description : Did Flutherites know that Active Service members can delay foreclosure and divorce, and other civil actions?

Last Answer : you must have been called to active duty in support of certain operations. (iraq, Afghanistan, etc) in the case of foreclosures, a letter to the lender accompanied by a copy of mobilization orders ... JAG officer, and also the ESGR folks. (employer support for guard and reserves if that applies.)

What is the best way to relieve myself of bills I can no longer pay?

Description : What is the best way to relieve myself of bills I can no longer pay?

Last Answer : Try doing your own negotiating instead of paying someone else (a credit counseling service) to do it for you. My understanding is that given the current climate, many credit card ... they initiate the call, it originates from an entirely different department with an entirely different methodology.

How does an old bankruptcy affect future loan applications?

Description : How does an old bankruptcy affect future loan applications?

Last Answer : It's not supposed to. They are supposed to be wiped from your report ten years after being settled. So you should be just fine. They won't ask for info about bankruptcy - it's illegal to do so. And ... nothing else, you should get a copy of your report and go over it in detail just to be positive.

Client filing for bankruptcy?

Description : Client filing for bankruptcy?

Last Answer : At some point you will need to file a claim against the company (to the bankruptcy trustee, once they are appointed). You'll wait and wait and wait. There's a hierarchy of who gets paid first ( ... they are filing bankruptcy and when it is possible for you to file a claim. read this Good luck.

Do you know anyone who successfully filed for bankruptcy on line?

Description : Do you know anyone who successfully filed for bankruptcy on line?

Last Answer : answer:You file with the local bankruptcy court. With a long list of items and documents. You understand that Chapter 7 means you may have to sell everything repeat EVERYTHING (there are exemptions) to be paid ... in Chapter 7. I'm not a lawyer; I just know someone that went through a bankruptcy.

Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?

Description : Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?

Last Answer : Better to pay off. Bankruptcy puts a big mark on you credit report, no one wants to get left holding the bag when you opt out of your debt. Bankruptcy takes the legal obligation away, but does not clear your record.

Detroit has filed bankruptcy. Aren't unions to blame?

Description : Detroit has filed bankruptcy. Aren't unions to blame?

Last Answer : Partially union’s fault, administrations that kept feeding them cash like they were printing it to keep the votes are also to blame.

How does incorporation affect bankruptcy?

Description : How does incorporation affect bankruptcy?

Last Answer : Incorporation is a primary method used to shield one’s personal assets from business losses and debt, but it isn’t an absolute protection.

I have a bankruptcy liability question - (see details)

Description : I have a bankruptcy liability question - (see details)

Last Answer : Go with the attorney, he should know.

Is the Hostess bankruptcy the fault of labor or management?

Description : Is the Hostess bankruptcy the fault of labor or management?

Last Answer : Typical corporate malfeasance. The top brass have been focused on quarterly reports and their own perks and compensation. Any company with brands that famous and sales that big should be able to compensate labor just fine.

What will happen to San Bernardino upon filing for bankruptcy?

Description : What will happen to San Bernardino upon filing for bankruptcy?

Last Answer : Bankruptcy would mean that the city can stop servicing its debt and can focus on paying for services. The city has already laid off some 20 percent of its workforce and cut salaries. It is a wakeup call and a lesson for all of the US.

Have any of you tried to file bankruptcy on your own without a lawyer?

Description : Have any of you tried to file bankruptcy on your own without a lawyer?

Last Answer : hello darkness my old friend….

Have you gone through bankruptcy?

Description : Have you gone through bankruptcy?

Last Answer : Has she spoken with a credit counsellor yet? It would be much better for her if she could negotiate her debts and pay them off rather than go the bankruptcy route.

Should recent college graduates declare bankruptcy if they can't find jobs?

Description : Should recent college graduates declare bankruptcy if they can't find jobs?

Last Answer : Probably not, because declaring bankruptcy currently does not get rid of either public or private student loan debt.

Is Bankruptcy an option in my case.

Description : Is Bankruptcy an option in my case.

Last Answer : From what I understand, SS checks cannot be touched unless you owe the government. So you may be in the clear.

American Airlines may be filing for bankruptcy. My dad is a pilot for them. What does this mean for me?

Description : American Airlines may be filing for bankruptcy. My dad is a pilot for them. What does this mean for me?

Last Answer : Chances are that they are filing operating bankruptcy (Chapter 11) which means that they are reorganizing their debt structure while under the bankruptcy court’s protection, which is unlikely to mean any changes in staffing. Your dad’s job should be safe for now.

Should I sue the debt collectors or file for bankruptcy?

Description : Should I sue the debt collectors or file for bankruptcy?

Last Answer : For every count of harassment, you can get between $500-$5000 depending on the state. It really is as simple as recording them and filing a lawsuit. There was a news story recently about a guy whose ... purposely get harassed by debt collectors so he could sue them. He was pulling in over 100k/yr.

Have bankruptcy laws changed recently so that the debt needs to be paid back now?

Description : Have bankruptcy laws changed recently so that the debt needs to be paid back now?

Last Answer : answer:The whole point of bankruptcy is that your assets cannot repay the debts you have, so complete debt repayment is not required. The major point that many people miss is that bankruptcy offsets ... on their credit reference file will struggle to get any kind of credit in the foreseeable future.

Is bankruptcy a good option in my case?

Description : Is bankruptcy a good option in my case?

Last Answer : answer:If you mean to restructure your debt through a chapter 11, than it might be a way to go. However, I suggest you try working with the creditors yourself, perhaps with an advocate from the bank ... he was evicted from his apartment, all while he was on an aircraft carrier in the Middle East.

What would happen if someone were to lie on a Ch. 7 Bankruptcy form(s)

Description : What would happen if someone were to lie on a Ch. 7 Bankruptcy form(s)

Last Answer : answer:Hi @Collegestudent19, welcome to Fluther! Lying to the court is not merely “considered” illegal. And Federal courts handle bankruptcy, not state courts. If the ethics don’t deter enough, keep in mind that Federal prosecutors have a lot more resources than state and local authorities.

How do I shop for a bankruptcy lawyer?

Description : How do I shop for a bankruptcy lawyer?

Last Answer : Welcome to fluther friend, and sorry you are going through this. I would definitely go with referrals myself, so maybe check out non-profit agencies in your area that help people deal with debt ... to look into women's help organizations-they tend to offer good referrals for reputable law firms.

When a technology-based company changes its logo... is that a sure sign they've become irrellevent and/or on a trajectory towards bankruptcy?

Description : When a technology-based company changes its logo... is that a sure sign they've become irrellevent and/or on a trajectory towards bankruptcy?

Last Answer : removed by self-moderation

Can people claim bankruptcy to get out of paying student loans back?

Description : Can people claim bankruptcy to get out of paying student loans back?

Last Answer : The short answer is maybe. It will depend on what kind of bankruptcy you claim. New bankruptcy laws make it harder to get rid of the principle loan but will forgive the interest, late payments, and so on. Chapter 7 or 13 or 11? It can get very confusing.

Is there any symbolic signficance to GM filing for bankruptcy?

Description : Is there any symbolic signficance to GM filing for bankruptcy?

Last Answer : GM is already out of bankruptcy.

Sirius / XM is filing for bankruptcy. Will we loose satellite radio?

Description : Sirius / XM is filing for bankruptcy. Will we loose satellite radio?

Last Answer : psst, it’s lose!

I have always prided myself for having perfect credit, but the recent downturn in the economy and unexpected medical expenses have no changed that. I don't want to file bankruptcy, but am way behind on payments. What are my options?

Description : I have always prided myself for having perfect credit, but the recent downturn in the economy and unexpected medical expenses have no changed that. I don't want to file bankruptcy, but am way behind on payments. What are my options?

Last Answer : For medical bills, you can make small payments to the hospital every month and as long as you’re paying off the loan, they can’t write it off as un upaid bill. So pay them $15 a month and use the extra $ to pay off your credit cards.

Why did Chrysler file for bankruptcy in New York?

Description : Why did Chrysler file for bankruptcy in New York?

Last Answer : They own more politicians in New York

Is it a problem to appoint someone who is filing for bankruptcy as a trustee to your investment account?

Description : Is it a problem to appoint someone who is filing for bankruptcy as a trustee to your investment account?

Last Answer : yea, I think so

Why shouldnt I file for bankruptcy?

Description : Why shouldnt I file for bankruptcy?

Last Answer : Although you say you can start rebuilding your credit, this really isn't the case. Although your credit score may increase, bankruptcy on a credit history is almost a sure fire way to ensure that ... really have no other way out, and be sure to have a long conversation with your financial advisor.

Website that lists businesses and chains that have recently filed for bankruptcy or close to doing so?

Description : Website that lists businesses and chains that have recently filed for bankruptcy or close to doing so?

Last Answer : No, because the filings are local not national.

Will Lehman brothers stock disappear when it files for bankruptcy?

Description : Will Lehman brothers stock disappear when it files for bankruptcy?

Last Answer : I strongly suggest you buy a bridge instead.

What causes bank bankruptcy ?

Description : What causes bank bankruptcy ?

Last Answer : Bank failure is due to lack of financial solvency.

What is bankruptcy ?

Description : What is bankruptcy ?

Last Answer : If a person fails to meet the full claim of the creditor, i.e. if the amount of his debt exceeds the value of all his assets, then he can be declared bankrupt by law or court. The first bankruptcy law was enacted in 1920. At present the Bankruptcy Act of 1997 is in force.

Do I have to have a job in a personal bankruptcy?

Description : Can I declare personal bankruptcy if I don't have a job?

Last Answer : Hello. You don't have to. It is your duty in debt relief (repayment schedule) to have an income or to seek it. In practice, this most often means that after losing a source of income (typically a ... obligation to pay the remaining part of the debts. Have a nice day JUDr. David Vozák, www.abivia.cz

Do travel agencies have to be insured against bankruptcy?

Description : Is it their duty?

Last Answer : Yes it is.

Personal bankruptcy

Description : How much does I have to have a minimum income to declare personal bankruptcy? Or does it matter how much I take?

Last Answer : It doesn't matter, it depends on the amount of debt, the seizable amount and so on, It is necessary to repay at least 30% of the debt in 5 years (but in practice it is at least 50% in 5 years)

do i have to include all credit cards in a chapter 7 bankruptcy

Description : do i have to include all credit cards in a chapter 7 bankruptcy

Last Answer : Need Answer

how do i find out if someone is declaring bankruptcy

Description : how do i find out if someone is declaring bankruptcy

Last Answer : Need Answer

if i file bankruptcy will it get rid of a wage granishment

Description : if i file bankruptcy will it get rid of a wage granishment

Last Answer : Need Answer

how does bankruptcy affect child support?

Description : how does bankruptcy affect child support?

Last Answer : Normally it doesn't. Usually child support is still owed, even the obligor is in bankruptcy. However, as always, check your state laws.