Bankruptcy & Debt Articles
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The recent real estate crisis has left a shocking 6.4 million Americans underwater in their mortgages.
Sometimes bankruptcy is the best course of action and other times debt settlement may be a better solution. Below is a basic comparison of Chapter 7 and Chapter 13 bankruptcy and debt settlement.
A credit card company or collection agency has a set amount of time to file a lawsuit for an unpaid credit card known as the statute of limitations. In Arizona the deadline to file a lawsuit for an unpaid credit card debt is six years after the cause of action accrues.
A Statement of claim is a form that is used to sue someone in small claims court. Often it is used by debt collection companies to sue for credit card debt.
Ten Things Debt Collectors Cannot Do
Consolidating Your Student Loans
Debt and Serious Injury
Bankruptcy Options for the Unemployed
In the Old Testament God commanded that all debts in the entire nation of Israel be cancelled every seven years to keep people free, prevent financial slavery and keep people from becoming too materialistic and uncaring about other people. God would bless them to cancel. Bankruptcy is not evil.
Certain Federal Income Taxes and Other types of Taxes (Property, Sales, Excise, Gift Taxes), can be Discharged (Cancelled and Eliminated) in a personal Bankruptcy case.