|
Author: Tim Gorman Article source: http://www.kabish.com/. Used with author's permission.
There are some new bankruptcy laws going into effect before long and many think they are much needed. Of course, that depends on which side of the bankruptcy you are a part of. Creditors are going to be the ones to benefit from the new laws, but there may be some helpful regulations for those filing for bankruptcy as well.
The new bankruptcy code requires certain filing procedures that do seem beneficial for the consumer. For instance under the new bankruptcy code, a consumer is required to take a financial counseling course within the 6 months prior to filing for bankruptcy. Financial counseling may lend to a person deciding that bankruptcy is not actually the best option for them. Most people don't even take this step before heading straight for the bankruptcy lawyer. This requirement may save many consumers from making a rash decision.
If your current monthly income is more than the median in your state then there are other factors to consider before you can file for bankruptcy. By multiplying your current monthly income, minus expenses, by 60, you get what is referred to as the result. If the result is less than $6000 or 25% or less of your unsecured debt amount, then you can file for chapter 7 bankruptcy. If it is 25% or more of your unsecured debt, or $10,000 or more, then you are required to file for chapter 13 bankruptcy.
A financial management course is required after you have filed for bankruptcy and prior to the bankruptcy discharge. There are financial management tools that can help you to avoid landing yourself in bankruptcy court a second time.
Obviously, bankruptcy reform is intended to cut down on the number of bankruptcies. This is a realistic goal when you put these factors into play. It may not make for very happy consumers, but the creditors are certainly going to be in a much better position. Timothy Gorman is a successful webmaster and publisher of Debt-Relief-Solutions.com. He provides more debt relief, consolidation and bankruptcy as an option information that you can research in your pajamas on his website.
Are Corporate Awards and Corporate Gifts Beneficial for Your Business?
Could a corporate award or corporate gift really change your company's revenue? See how give this kind gesture could help your company in ways you could not im...
Does God Promise Long Life?
What does the Bible have to say about God wanting us to live long lives? I think you will be pleasantly surprised to find that God does want some of His people ...
Ultimate Weight Loss: Ephedra is Back?
The Ultimate fat burner ephedra is back on the market and flying off the shelves. Research has shown that ephedra helps promote the loss of fat while helping sp...
Why I enjoy Writing?
one the most common question ask to writers is "Why do you enjoy
writing?"
Being Real From the Platform
People see, hear, then they believe. Whatever the purpose of your speaking, it is ultimately important that the audience believes you. Your credibility is vital...
Home Improvements – Planning
Home decorating is one of the keys to making the most out of a home. Do it right and you can turn a pedestrian home into a castle.
Creating Your own Christmas Cards This Year with a Personal Touch
It has often been said that a picture speaks a thousand words. With digital cameras and camera Phones creating a christmas card to remember can be easier then y...
Living on the Edge: Stressed Out and Nowhere to Go
Is your stress level higher than it should be? Are you struggling with changes in life that you neither anticipated nor caused? If so, keep reading! Most of us ...
Investing and Understanding What You Buy
I don't really know how cars actually work. Not really! I know how to drive them, but if you asked me how they work, I would not really know how to definitely e...
Search Engine Copywriting: R.I.P?
This is a frustrating time for web copywriters in the evolution
of search. They want to be able to deliver quality
search engine copywriting that sells produc...
Newsletter Software
What types of newsletter software can I use to make the creation and publishing of my newsletter an easier task?
Job Search Victim Or Professional?
Everyone hits bumps in the job search road. How you handle it will determine whether or not you'll be a success.
How A Golf Trainer Can Take Your Game To The Next Level
Having a golf trainer in your corner to give you guidance, motivation and ongoing, cutting-edge golf fitness ifnformation will put you leaps and bounds above yo...
Eliminate Sugar and Lose Weight
If you want to lose weight, there is one thing you ought to eliminate from your diet…sugar.
Temporary Internet Files - the Good, the Bad, and the Ugly
A little bit of time invested into learning about internet security can go a long way in preventing mishaps on your computer. Temporary internet files are not s...
When Failure is a Gift
I wanted, for many many years, to be a mystery writer. Finally I wrote a mystery novel. I got a best-selling novelist to be my mentor and help me with the rewri...
Are You Addicted To Your Acne Trigger?
If a food or drink is the culprit behind your acne breakouts you may actually be addicted to your preferred culinary delight. The allergy addition could stem fr...
Top Web Site Blunders by Coaches, Consultants and Experts
Of all the web sites belonging to coaches, consultants and
experts that I have reviewed, more than three-quarters
shared a very serious marketing blunder: Th...
Plan for the Senior Years
One doesn't have to look far to find seniors in deplorable conditions. The later years for you or your loved ones arrive sooner than expected - especially if t...
4 Things That Make A Web Site Great
First you need original content. Content is the heart beat of any exceptional Web site. The ability to take a common subject and give it some interest and origi...
Want to Do Everything Better? Build A Strong Core
Core strength and stability is increasingly recognized as a vital part of fitness. So what is it and how do you go about getting it? The past five years have se...
Breaking Away from White Wall Paint
Paint is one of the most affordable and easiest ways to change a room.
Hair Loss: An Overview
Those affected by hair loss become aware of how important hair is in our social lives quickly. That is why hair loss provokes not only feelings of cosmetic con...
Oregano Supplements : An Effective Natural Treatment for Fungus and Other Ailments
This article details the benefits of taking oil of oregano supplements for ailments such as Candida, indigestion, Bronchitis, among others. In addition, it has...
|
Print this page