Proven Accountants Finance Blog

Bankruptcy may make it possible for you to:
Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts. It is designed to give you a fresh financial start.
End constant and annoying phone calls by creditors and collection agencies.
Stop foreclosure on your house or mobile home and allow [...]

I am researching bankruptcy via WIKI HOW, but am confused about processing it without the counseling of a credit counselor. I have had no income to counsel about. Can anyone with bankruptcy legal experience explain this (in the USA).
Dark Green Money: If I was a horse in AZ , I would hide [...]

Bankruptcy is a condition that everybody wants to avoid. But sometimes due to poor financial management and sometimes due to the external factors which can not be controlled by the person people find themselves to be in a condition where they have to think of declaring bankruptcy. Most of the people do not know how [...]

If you are a businessperson or an individual who has to clear off the debt that you have taken from various investors or creditors then a condition may arise where you are unable to pay off your debts. This condition is known as bankruptcy. In the British system it is also known by the name [...]

The ongoing economic depression is affecting people all over the world. Individuals are finding it difficult to sustain themselves. And many debtors are finding it next to impossible to redeem their debts, and become debt free. To find a way out, filing for bankruptcy might appear to be the way out. Even though one does [...]

I have heard this is a good way to remove a BK. See below. Has anyone tried this?
Unlike other negative information which stays on your credit report for 7 years, bankruptcy can be reported for up to 10 years.
Bankruptcy courts keep cases active for a period of two years before placing them on [...]

Chapter 7 bankruptcy: Also known as liquidation (converting assets into money) or a straight bankruptcy. This is one of the faster ways of starting afresh and more so if there are no objections from any of the parties involved. Ordinarily, most (if not all) debts would be discharged within months of the attorney filing a [...]

I hear it is very hard to file for the type of bankruptcy where they abolish all of your debt. However, what about the type of bankruptcy where you pay back some of your debt? If you file this type of bankruptcy, will you definitely get accepted, even if you make a high [...]

Filing bankruptcy does have its share of benefits. Although it is not without a reason that experts say bankruptcy should be kept as a last option. There are reasons that you may feel inclined towards filing a bankruptcy but experts say that it should be avoided because it has a very long lasting effect on [...]

Ok, you are getting a fresh start on your financial situation by filing for bankruptcy. One of the important players that you are going to be interacting with in the case is a bankruptcy trustee. A bankruptcy trustee is a lawyer assigned to oversee your bankruptcy case. Their role in the case differs as to [...]