FINANCE LAW

If you are a creditor of an individual or business that has filed for bankruptcy: 1. Stop collection actions. Immediately cease any collection action, including telephone calls, billing or law suits that might be pending against the debtor. 2. File a claim with the court. The notice of the bankruptcy sent by the court clerk […]

A bankruptcy filed under Chapter 7 is called a “liquidation bankruptcy,” and can apply to individuals or businesses. If you file a Chapter 7 case, the goal of the procedure will be to liquidate (sell for cash) your bankrupt estate. Some of your assets may be exempt from the bankrupt estate and they will not […]

Your credit status will be affected by filing bankruptcy. If your credit is perfect, bankruptcy will have a negative effect on your credit. If your credit is substantially impaired, now or in the near future, filing bankruptcy may not affect your credit status negatively, and it may your improve your credit status because, after filing […]

Though the issue is subject to intense political debate, private-sector employers are not required to provide retiree health benefits. If they do offer these benefits, nothing in federal law prevents them from reducing or eliminating them – unless they’ve specifically promised to maintain the benefits. In the case of elimination or alteration of benefits, it […]

1. Avoid accepting too many offers. There is rarely a good reason to carry more than one or two credit cards. You should be very selective about choosing cards which are best for you. Having too much credit can lead to bad decisions and unmanageable debts. 2. Remember that lenders are looking for people who […]

Stressing personal responsibility, Bush signs bill… WASHINGTON – (KRT) – April 20, 2005 – President Bush signed into law stiffer U.S. bankruptcy regulations that will make it harder for debtors to escape their troubles. “America is a nation of personal responsibility, where people are expected to meet their obligations,” Bush said before signing the measure, which […]