Bankruptcy Chapters

As consumers continue to struggle under the weight of a lagging economy, many Americans are trying to refinance their car loans.

Unfortunately, scammers have taken notice and are increasingly trying to bilk people of their hard earned cash. According to Rosemary Shahan, the president of Consumers for Auto Reliability and Safety, car loan scams are a “problem just about everywhere.”

Shahan recognizes that many people are able to refinance their car loans, but warns that “the way to do it isn’t to go to these companies who are out there advertising, ‘We can miraculously get you out of this excruciatingly bad deal.”

A recent article from MarketWatch provides some tips aimed at helping you avoid car loan scams:

• Choose wisely: If you want to refinance your loan, don’t opt for a group that heavily advertises its miraculous refinancing abilities. Instead, choose a safer organization, like a credit union or nonprofits like the Consumer Federation of America, or the National Foundation for Credit Counseling.
• Speak with your lender: Since no lender wants to go unpaid, they are often willing to work with you to adjust your payment plan. According to

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Tags: Car Loan, Loan

Bowie Kuhn, Baseball Hall of Fame inductee of 2008, former legal counsel to Major League Baseball for 20 years, and former Commissioner of Baseball for almost 15 years, was once accused by creditors of selling his home in New Jersey and fleeing to Florida to avoid bankruptcy proceedings. That accusation was made according to news articles written in 1990. In fact, the creditors claimed “he was hiding from the bankruptcy of the defunct law firm that bore his name,” and he reportedly left the day before his creditors filed bankruptcy proceedings. Whether or not these accusations are true is hardly the point. The point is, no matter who you are or how famous you are, you cannot hide from bankruptcy. History has taught that bankruptcy, regardless of the feuding participants, will eventually be settled to the satisfaction of bankruptcy law. Kuhn was never convicted of any wrongdoing, and he died in 2007 from complications of pneumonia at the age of 80 long after the events reportedly occurred.

The Kuhn story illustrates that bankruptcy can happen to anyone. It doesn’t matter whether you are good at what you do, have won the lottery, or you are even famous like Bowie Kuhn. There

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Debt consolidation can sound like music towards the ears of someone who has large debts divided up into many lenders. However, this can easily turn into a very much larger monetary dilemma than you may picture if it is not approached within the right way. Most individuals who seek a magic wand to become waved more than their debt are typically a credit history risk currently.  These folks hand the lender just what he needs on the silver platter to charge them a monstrous interest rate on any bank loan he offers. Although this could be a great way in tips on how to consolidate your debt, it’s going to also mean that you’ll possibly be having to pay an unbelievable curiosity rate. It’s wise to accomplish your research on that just before determining on debt consolidation.

Your next consideration would be to find out how very much you’ll be charged by the business who’s heading to grant you a loan to consolidate your debts. Most debt consolidation advice says you require to expect to be charged no less than 10 % of your monthly loan payment. For instance, if your monthly payment is $400.00, it is possible to expect $40.00 of that to become taken out by your bank loan organization each month. That is a l

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Tags: Debt, Debt Consolidation

What happens to your debt after you die is not a topic that’s likely to come up on its own at the dinner table, but it’s a good idea to talk about this matter anyway. It’s important for you and your loved ones to know when you’re responsible for each other’s debts post-mortem—and when you’re not.

A recent post from WalletPop.com offers an outline of what to expect after the death of a family member who owed money. Here’s a summary.

• Can debt be inherited? In most cases, debt does not automatically pass from one family member to the next, according to sources. That means that, if you receive a letter from a creditor demanding payment on a loved one’s debt after his demise, it’s a good idea to do some research before paying.
• Debt in community property states: One of the exceptions to the above rule has to do with state law. If you live in a community property state (find out here), you can inherit debt from a dead spouse (but not from a sibling or parent).
• The link between debt & inheritance: Another exception involves the relationship between a person’s debts and her legacy. If, for example, a pa

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Tags: Happens, Happens When

The recession has done little to reduce consumer spending and personal debt, according to one survey which claims that more than £24bn of unsecured debt has been amassed during the economic downturn.

Comparison service uSwitch has claimed that “shopaholics” have been largely undeterred by the recession, with women amassing more than £13bn of personal debt compared to £10bn for men.

The website defines a recession shopaholic as someone who has built up more than half of their unsecured debt through fashion purchases – and while there are more female than male shopping addicts – about 4 million and 3 million respectively – men acquire a higher average personal debt of £3,425 compared with £3,353 for women.

Anne Robinson, the head of consumer policy for uSwitch.com, says consumers have simply ignored recent headlines: “Despite the financial constraints, women have carried on copying the lifestyles and shopping habits of their idols and ignoring the debt they are racking up in the process.

“Some have even regarded the recent spate of bad economic forecasts as a reason to carry on spending beyond their means, with 4% stating that they are spending more to “cheer themselves up”.

Women shopaholics acquire 77% of their personal debt and men 75% through buying clothing, accessories and grooming. However men typi

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Tags: Claims, Survey Claims