A lot of people who find they have no way of repaying their unsecured debts in full face a choice between an IVA (Individual Voluntary Arrangement) and bankruptcy. Both forms of insolvency can help to free struggling borrowers from unmanageable debt problems, but there are key differences between the two that you should understand before...
Tag: bankruptcy
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How To Avoid Insolvency
Personal insolvency is the umbrella term for any circumstance where an individual has insufficient money available to make their loan payments when they fall due. It’s a precarious position to find oneself in but has become increasingly common over recent years, with over 135,000 individual insolvencies in England and Wales during 2010 alone. Insolvency is...
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Top High Profile Bankruptcy Filings In Recent Times
Some of the biggest companies and best-known brands in the world have been reported as filing bankruptcy at one time or another. Sadly, in the recent recession, many of America’s most respected household names have been the subject of much public scrutiny for filing bankruptcy under the laws of chapter 11. The largest case of...
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Should I Trust My Lawyer’s Advice on a Bankruptcy Counseling Firm?
Bankruptcy Counseling vs. Debtor Education When a person files for bankruptcy under the bankruptcy code, he/she is required to participate in a pre-bankruptcy counseling course called credit counseling. After a bankruptcy has been filed, the person must then go through a course called debtor education to prove to the bankruptcy court that he/she is committed...
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Eliminating Your Debt in the Most Convenient and Creditworthy Way
Debt consolidation has always been beneficial over bankruptcy as far as creditor’s interest is concerned. Whereas with bankruptcy, creditors get nothing or very little from the debtor. The debt consolidation system shows positive and systematic money management in favor of them. Debt consolidation beneficial for both: Debt consolidation in turn could be extremely advantageous for...
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Credit Card Debt – Five Signs You Should Seek Help
The Average American has credit card debt balances that are quickly approaching ten thousand dollars. With soaring interest rates increasing the principal substantially, it is little wonder that more and more debtors are filing for bankruptcy every year. Fortunately, there are several debt relief alternatives to bankruptcy that can help you pay off your unsecured...
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