more »

Blog sponsored by Bankrupt-Law.com


New Bankruptcy Law Requires Credit Counseling Before Filing
If you are considering filing for bankruptcy, you should know about one
major change to the bankruptcy law: Beginning October 17, 2005, you must get
credit counseling from a government approved organization within six months
before you file for bankruptcy protection. You can find a state-by-state
list of government-approved credit counseling organizations at
www.usdoj.gov/ust. That is the website of the U.S. Trustee Program, the
organization within the U.S. ...   more »

Blog sponsored by Bankrupt-Law.com

How to build a credit history Don Taylor Dear Dr. Don,

I have been trying to apply for a credit card so I can start establishing credit. However, I keep being rejected because I have no established credit.

Is there a credit card out there that will actually accept me? -- Gary Ground-Up Dear Gary,
Back when I first established credit, the conventional wisdom was to get a gas card ...   more »

Blog sponsored by Bankrupt-Law.com

The Automatic Millionaire by David Bach Tuesday, January 31, 2006 Credit cards are a wonderful convenience, but they can also be financial quicksand if you don't know how to use them properly. Unfortunately, most of us don't.

Overall, American families have an average of 7.6 credit cards each, and consumers as a whole owe around $800 million in credit-card debt, which works out to more than $9,000 per card-carrying household. No wonder only 4 out of ...   more »

Blog sponsored by Bankrupt-Law.com


The Budget Reconciliation Act (S. 1932) passed by the House of
Representatives on a vote of 216-214 this afternoon includes fee increases
for various court filings, including bankruptcy filings. The Senate
previously approved the measure and it now goes to the President for his
signature (we expect President Bush to sign the bill into law this week).
The increase is effective 60 days after the bill is signed into law.

The bankruptcy filing fee increases are ...   more »

By Liz Pulliam Weston

Bankruptcy has become little more than a few months in purgatory, rather than the seven-year ache -- and lifelong disgrace -- it once was.

Deborah and Victor Valle fell behind on their mortgage payments last year after Victor, a 43-year-old union truck driver, was idled by the Southern California grocery workers strike. When their lender started foreclosure proceedings, the Valles hired a lawyer, David Baran, to file a Chapter 13 bankruptcy so they could keep their ...   more »

Blog sponsored by Bankrupt-Law.com

By Bankrate.com

Sometimes, a fresh start makes sense -- if you can get past what you think you know. Here's how bankruptcy affects your credit, your possessions and your karma. By Bankrate.com Like most big, bad, scary things, bankruptcy has a reputation based on a few tidbits of truth and lots of embellishment. And like most creepy crawlies, it's not nearly as frightening once you know the truth. With a mind toward declawing the monster, here are a ...   more »

Blog sponsored by Bankrupt-Law.com

The industry muscled through tough changes that were supposed to make more filers repay some of what they owe. But that isn't happening. By Liz Pulliam Weston http://moneycentral.msn.com/content/Banking/bankruptcyguide/P135860.asp   more »

Blog sponsored by Bankrupt-Law.com

IRS Provides Guidance Regarding Returns for Bankruptcy Purposes December 01, 2005 IRS Notice CC-2006-002, dated November 22, from the Office of Chief, provides the IRS's position in contesting the dischargeability of a tax debt in bankruptcy on the basis that no return was filed, when a taxpayer has signed and submitted a Form 870, Waiver of Restrictions on Assessment and Collection of Deficiency in Tax and Acceptance of Overassessment. The Notice states that the 4-part test ...   more »