Filing for Bankruptcy can be a traumatic experience and it it not to be taken lightly. Before even considering this route you must first see the alternatives as they may save you a lot of hassle and expenses and also be better for your reputation although Bankruptcies are sometimes the only choice left.
1. First see if your Bank can assist you with debt reduction or consolidation loans that are cheap but if this fails then you can look at a debt management agency to take over all your debts and bring the debts down considerable. Here you can then pay your debts off at a discounted rate with a monthly payment you can afford.
2. If the above isn't possible then it is best to seek some legal advice on the matter, depending on the laws in your country. Usually if you want to file a bankruptcy you have to file it through the courts and there are usually two types of bankruptcies.
One is a total liquidation of assets bankruptcy and the other is a paying off your debts kind of bankruptcy which is the one that most of the times you are granted. Even though a lawyer costs money it is advisable to get one as the whole process is quite a long winded affair with all and sundry probing into your life and your assets or lack of them. After filing what is known as a Debtor's Petition you will then be investigated and so all your answers must be as accurate and true as possible and this is where the lawyer really comes in handy.
Make sure that before you decide to file for bankruptcy that you know the full cost of the court plus solicitor's fees so you know exactly what you are getting involved with.
Wednesday, October 22, 2008
Saturday, October 18, 2008
Unsecured Wedding Loans
A wedding is supposed to be filled with laughter and joy and is meant to be one of the most pleasant life experiences that people go through at one stage in their lives. With this great happiness comes also a great expense and nerve wracking situation as preparations for the Big Day can become quite stressful if not planned out in time.
Not everyone has the economic clout or capacity to pay for the wedding expenses out right so have to resort to taking out a loan to cover the costs. Also if you have no collateral to take out a secured loan you would have to opt out for an unsecured loan.
Where is the best place to apply for an unsecured wedding loan you may be asking yourself? There are a few alternatives available at present. The first and most obvious place to seek financial help would be your local bank and if they seem helpful then that could be your problem solved. Otherwise looking via the Internet could be a way where you could apply for a wedding loan and get a really good rate of interest as there are many competitors in the Market looking for your business.
There are also many loan comparison sites on the Internet which could also be a good place to get an idea of what companies and rates are available and where you can get the best deals.
A good way to get an estimate of the cost of the wedding is to write down all the items you need the loan for and then take it from there as to how much you are likely to need to borrow and then start applying for online unsecured wedding loans where you can spread the payments over a longer period of time.
Not everyone has the economic clout or capacity to pay for the wedding expenses out right so have to resort to taking out a loan to cover the costs. Also if you have no collateral to take out a secured loan you would have to opt out for an unsecured loan.
Where is the best place to apply for an unsecured wedding loan you may be asking yourself? There are a few alternatives available at present. The first and most obvious place to seek financial help would be your local bank and if they seem helpful then that could be your problem solved. Otherwise looking via the Internet could be a way where you could apply for a wedding loan and get a really good rate of interest as there are many competitors in the Market looking for your business.
There are also many loan comparison sites on the Internet which could also be a good place to get an idea of what companies and rates are available and where you can get the best deals.
A good way to get an estimate of the cost of the wedding is to write down all the items you need the loan for and then take it from there as to how much you are likely to need to borrow and then start applying for online unsecured wedding loans where you can spread the payments over a longer period of time.
Saturday, October 4, 2008
Bankruptcy vs Debt Consolidation
There may come a time in your life where you will have to take drastic decisions to take back control of your life and to sort out your financial hiccups. Going down the bankruptcy route or opting for Debt Consolidation instead are both daunting decisions to make and not to be made likely. Here are the pros and cons of going for either one which will hopefully assist you into making a valid and sound decision based on your current financial needs and status.
Debt Consolidation by far seems the most popular of the two by Public Opinion and here we list the advantages.
1) A debt management or consolidation program is a partnership between you and a debt management agency who work out an affordable monthly sum to pay all your creditors.
2) The headache of mounting bills is taken away as you just issue one check a month to the agency and they take on all the hassle of communicating with creditors on your behalf for a small monthly fee.
3) You get to pay less of what you owe over all as the Agency bargains with your creditors in order to get the debts decreased, rather than them not getting any payments from you at all.
4) All transactions are conducted in a private manner and your privacy rights are respected.as you are going through difficult times.
For many people Bankruptcy is the only way out and so often they opt for this way out. Here are the advantages.
1) All legal proceedings being made against you have to stop at the point you file for bankruptcy. No one at this time can take you to court.
2) You have to declare your wages and expenses but even in acute cases you are probably allowed to keep your main hoe and car.
3) The big advantage of declaring bankruptcy is that it gives you a fresh chance to turn over a new leaf and you can walk away from your past debts and difficult situation.
In either case it is always wise to seek legal advice before taking any one of the two decisions at your disposal.
Debt Consolidation by far seems the most popular of the two by Public Opinion and here we list the advantages.
1) A debt management or consolidation program is a partnership between you and a debt management agency who work out an affordable monthly sum to pay all your creditors.
2) The headache of mounting bills is taken away as you just issue one check a month to the agency and they take on all the hassle of communicating with creditors on your behalf for a small monthly fee.
3) You get to pay less of what you owe over all as the Agency bargains with your creditors in order to get the debts decreased, rather than them not getting any payments from you at all.
4) All transactions are conducted in a private manner and your privacy rights are respected.as you are going through difficult times.
For many people Bankruptcy is the only way out and so often they opt for this way out. Here are the advantages.
1) All legal proceedings being made against you have to stop at the point you file for bankruptcy. No one at this time can take you to court.
2) You have to declare your wages and expenses but even in acute cases you are probably allowed to keep your main hoe and car.
3) The big advantage of declaring bankruptcy is that it gives you a fresh chance to turn over a new leaf and you can walk away from your past debts and difficult situation.
In either case it is always wise to seek legal advice before taking any one of the two decisions at your disposal.
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