David Smith

Business Bankruptcy – What You Should Know Before Filing For Business Bankruptcy

Filing business bankruptcy can be an emotionally difficult process for any business owner. However, sometimes things can go wrong for a business either due to wrong decisions or due to external/unforeseen conditions; and in such a situation, filing for business bankruptcy might become the best option.

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Personal Bankruptcy – What You Should Know Before Filing For Personal Bankruptcy

Jurisdictions allow individuals to declare their bankruptcy through a procedure called personal bankruptcy. That simply means that you cannot afford to pay your debts any longer and requires removal of any such obligation by giving up control of your financial assets. You can either do it through a debtors’ petition (doing it yourself) or through a creditors’ petition (someone who you owe money can do so).

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Types Of Bankruptcy – A Quick Glance Into The Six Important Bankruptcy Chapters

While personal bankruptcy can be filed through Chapter 7 or Chapter 13, there are other types of bankruptcies that apply to different situations. While Chapter 7 and Chapter 13 seek to provide repayment solution either by liquidating the financial assets or repayment schedule respectively, the other chapters pertain to businesses, fishermen or farmers, foreign investors etc.

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Bankruptcy Requirements For Common Types Of Bankruptcy

In 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act was passed that changed bankruptcy filing requirements. This means that there may be certain changes that need to be checked before you decide to file for bankruptcy. Being informed and prepared with the new bankruptcy requirements will make your filing process hassle free.

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What Is My Credit Score? How To Get My Credit Score And Check My Financial Health?

It’s relatively easy to get your credit scores and check your financial health. There are different sources that provide the credit score and these can be obtained through email, over the telephone or posted through US mail. However, unlike credit reports, you do not get credit scores for free (except when you have applied for credit and the lender provides you the score that they have in turn obtained).

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