Why Bankruptcy? And a Bit About Banking...

Aug. 3, 2010 - PRLog -- People go through changes in life that they have no control over. They lose a job, go through a divorce, or become ill. These are just a few of the many reasons why people file bankruptcy. If you are thinking that you can stay above water and finally realize you can no longer pay your bills, bankruptcy is for you. Don’t be ashamed of filing bankruptcy, because a lot of people are going through the same thing you are. You may not realize that your neighbor has probably filed bankruptcy. Bankruptcy is not publicized like many people think it is. The only people who are going to know if you are filing is you, your spouse, and the attorney’s office that you are filing with. Everything is kept confidential. The only person who would know would be your payroll department. Under the new bankruptcy laws, it is required to have a wage order in place to make your trustee payments. There is no way around it. If you feel this is too much for you to handle, having your employer know, then you may want to reconsider or possibly see if you qualify to file a chapter 7. In that case, you better start thinking about what items you want to keep and what you want to give back. If you are delinquent on a vehicle or on a home, then you can make arrangements with the creditor to keep those items.

TO those of us that use banks they are a great convinces. They hold our money till we need it and allow us ways to pay our bills without having to pay cash for every thing. We write checks or can use our debit card on even go online and pay the bills as they come due. Some banks offer some kind of over draft protection if have a bill due before we get paid, Yes they charge you 29 dollars or something but at least your not late. Some bank will offer you a credit card with all kinds of special low interest rates which is great for those major things that come up like big screen TV and other necessary things. The bank might even give you a good interest rate on a car.
So these are some of the good things banks do. But if money starts getting tight and you start over doing things like the over draft, your whole check is now gone before you even get it. You fail to make the credit card payment so the bank can go into your account and take the money. At some point you stop putting your money in that bank but your car and the credit card are still there you make your car payment but they can apply it to the credit card and come reposed the car. This is all in the fine print. Again banks are a wonderful thing but life does not always go the way it is suppose to and there can be a change in income. So just be careful. After these things happen that when the bankruptcy will either help you get the car back or surrender it and not worry about them coming after you for the balance.

For more information visit http://www.bankrupcy-alternative.com/laws.html or call us directly. Here is another bankruptcy article http://www.prlog.org/10832479-bankruptcy-irs-liens-agains... and here is another http://www.prlog.org/10832466-bankruptcy-property-taxes-a... for your reading enjoyment.

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