When you work with a lender to enter into a property loan agreement, you will most likely have a voluntary lien built into that contract. Property liens are effective methods for lenders to secure the loan value they give you in case of bankruptcy or other inability to repay. All liens act to protect the
When it comes to navigating loans, it can take a frustrating amount of information and savvy to negotiate the process from start to finish. Whether you need support to buy a car, pay medical bills, finance your business, or for any other purpose, finding the right lender is the most important step. Unfortunately, there are
Debt laws vary from country to country, and within the U.S., those laws even vary from state to state. The legal minutia around the debts you owe can quickly become complicated even within Minnesota regulations, but when out-of-state debts and foreign debts are introduced, those difficulties can increase ten-fold. These complications may never become
In this fast-paced world, it’s almost impossible to go through life without incurring debt. From mortgages to car loans and credit card debt, many areas of a consumer’s financial life involve borrowing. While it’s obvious that borrowers directly gain from loans, it can be difficult to understand how lenders benefit outside of the amount they
Bankruptcy in the U.S. is a system designed to pull individuals and businesses out of severe debt while resolving those debts with creditors as best as possible. In this way bankruptcy is a highly effective process for recovering from severely crippling debt and getting a fresh start financially. However, filing for bankruptcy does have its
Bankruptcy is a form of debt relief available to U.S. individuals and businesses alike, and while there are several versions of reorganization or liquidation bankruptcy, the overall goal of giving debtors a viable opportunity for financial recovery remains the same. If your limited liability company (LLC) or corporation chooses to file for bankruptcy, you can
Life is full of unexpected events. When it comes to debt and financial difficulties, it’s best to deal with those life events head on. You may have accumulated debts over the years or be struggling with sudden expenses, but whatever the reasons leading up to severe debt, you don’t have to face it alone. Getting
Bankruptcy is designed to help individuals and businesses recover from debt and continue to participate in the global and national economy. While bankruptcy offers what’s essentially a government-sanctioned financial backup plan, it’s not a bailout to simply rid yourself of debts with no concern for your lenders. When you file for bankruptcy, the process will
Over the past 50 years, bankruptcy law has seen changes that have affected how individual consumer and business cases are handled today. The most recent overhaul in bankruptcy law came in 2005 when the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was enacted to prevent the possibility of filers taking advantage of the system
Chapter 7 liquidation bankruptcy is the most common type of individual consumer bankruptcy in the US. The process of Chapter 7 works to liquidate a filer’s non-exempt bankruptcy estate property in return for the discharge of their debts. Not only is it an effective way to free yourself from credit card debts, medical bills, and
