Bankruptcy question????

Question

Would anyone have any information about claiming Bankruptcy now with the new law in effect. My husband and I just seperated and I am unable to keep up with my expenses.
Would they restructure the debt for repayment at a lower payment?

Answer 1

No one should have to file for bankruptcy with debt settlement available to them. If your primary concern is being able to pay off your unsecured accounts and lower your monthly payments that can be achieved both at http://www.fdnsolutions.com and http://www.1800debtsettlement.com

A debt settlement company can show you the way to being debt free in a matter of 2-3 years without the negative consequences of bankruptcy.

Answer 2

Bankruptcy is the term used when an individual or the company cannot pay their debts. There are various reasons why this happens. A company could go bankrupt due to any of these reasons: very low profits, mismanagement, ineffective leadership running the organization, improper allocation of resources and money, insufficient clients or lack of consumers, no further scope in the growth in the line of business.

Answer 3

Yes. The laws today do force repayment but the fees and interest stop as of the bankruptcy. All debts are then paid and monitored by a trustee.

Answer 4

Depending on what kind of debt (and how much) you are talking about, you should be able to consolidate and/or refinance your debt. In addition, you will need to begin living a life with lower expenses. Find a cheaper apartment with better utilities costs or a cheaper house. Trade your car in for a cheaper one. Go back to mac and cheese. Unless you have serious debt, you should be able to rework your life and your payments to cover your expenses. Mortgages can be refinanced. Credit cards consolidated. Look into the financing options before taking the leap into bankruptcy and it won't do much good to file bankruptcy if you don't change your life to be able to cover your expenses in the future.