http://www.globalinvestors-financials.com Premier Provider of Real Estate Loan & Financing Solutions™ Wed, 03 Oct 2007 16:36:35 +0000 http://backend.userland.com/rss092 en There is just no easy way to get out of debt, you have to face up to the consequences. A bankruptcy is not always the answer, as the effects are long lasting. There are four ways to handle debts that are out of control, listed in best to worst in ... http://www.globalinvestors-financials.com/2007/10/03/alternatives-to-filing-bankruptcy/ When you miss your mortgage payments, foreclosure may occur. This is the legal means that your mortgage company can use to repossess (take over) your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your ... http://www.globalinvestors-financials.com/2007/10/03/how-to-avoid-foreclosure/ Chapter 7 bankruptcy is a liquidation proceeding. The debtor turns over all non exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts.To file a Chapter 7 bankruptcy: You must reside or have a domicile, ... http://www.globalinvestors-financials.com/2007/10/03/chapter-7-bankruptcy/ The underlying policy of bankruptcy law is that the honest debtor who is in debt beyond his/her ability to repay the debt should be given a fresh start through the discharge of debts in a bankruptcy proceeding.Not all debts are dischargeable. Generally speaking, the following debts will not be discharged: Taxes. Spousal ... http://www.globalinvestors-financials.com/2007/10/03/bankruptcy-and-bills/ One of the major benefits of filing for protection under Chapter 7 is that many creditor actions are stayed. This means that debt collection efforts and foreclosure is halted.Once a creditor or bill collector becomes aware that you have filed for bankruptcy protection, he/she must stop all efforts to collect ... http://www.globalinvestors-financials.com/2007/10/03/bankruptcy-and-bill-collectors/ Once the bankruptcy is filed, all the property of the debtor at the time of the filing and certain other property to be received in the future, becomes the property of the bankruptcy estate. This means that the bankruptcy trustee will take control of this property for purposes of satisfying ... http://www.globalinvestors-financials.com/2007/10/03/your-property-and-assets/ Depending upon which exemption scheme is selected and your circumstances, you may exempt up to $100,000 in equity. When calculating your equity you should use a value that is based upon a forced liquidation as opposed to the best selling conditions to arrive at a value for your home. Once ... http://www.globalinvestors-financials.com/2007/10/03/your-house-and-car/ When making financial decisions during the process, you should consult your attorney. In particular there are three items worth mentioning. Under bankruptcy law, certain luxury purchases over $1000 within 60 days of the bankruptcy filing are presumed non dischargeable. Under bankruptcy law, cash advances aggregating $1000 within 60 days of the bankruptcy ... http://www.globalinvestors-financials.com/2007/10/03/about-the-bankruptcy-process/ I am a co-signer for a debt, how does bankruptcy affect my obligation? If the debt is a dischargeable debt then you will not have to pay it. However, the cosigner will become primarily responsible for the debt. Be sure to list the co-signer as a creditor in your schedules as ... http://www.globalinvestors-financials.com/2007/10/02/bankruptcy-questions-and-answers/ Once you have selected an appraiser, be prepared to answer questions and provide requested information. What is the purpose of the appraisal? When is the required completion date of the appraisal? Is property listed for sale and if so, for how much and with whom? Is there a mortgage? If so, with whom, when ... http://www.globalinvestors-financials.com/2007/10/02/helping-the-appraiser/