March 6th, 2010 | 
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Some times people get to a point where they have taken on too much credit and become overpowered by the weight of too much debt, just remember though that there are bankruptcy laws that can protect us. There are some creditors that will think nothing of bullying and harrassing people who do not pay on time, this isn’t such a bad thing when there are people that are just plain irresponsible. In most cases though people who can’t pay the bills are living at the bottom financially. They don’t know where to turn for help to get out of their situation, and the constant telephone calls and threatening letters only add to the stressful situation.
This is one of the reasons why people get to the point where they file for bankruptcy. Bankruptcy laws are very clear, creditors cannot contact the people one they have filed, although some may continue to call and plead ingnorance to the bankruptcy filing. When this happens the person’s attorney will probably write a letter to the company reminding them of bankruptcy laws. This will most often stop the harrassment and give the clients of these companies some much needed relief.
Bankruptcy Laws – Learning All About Them
When someone decides to seek protection from creditors, they will go to an attorney to find out about their options. If you find yourself in this situation, you should ask about the bankruptcy laws that pertain to you and your individual situation. Learning the bankruptcy laws can save you a lot of worry when going through this arduous process. You need to understand that the laws were put into place to protect people from having to deal with addtional anxiety in an already stressful situation. To a creditor, the difficulty that someone is going through doesn’t matter at all.
The creditors are the main reason that bankruptcy laws were established. The bankruptcy laws’ purpose are to protect the individual who is forced to file for bankruptcy, from the creditors that are only interested in collecting the money due to them. Although these laws are in place, there are some companies that will stand on the fine line of the law and even cross this line to get their point across. This is why you must get a good lawyer involved with your case as soon as possible, so that you have a professional intemediary that can deal with the less than professional companies.
Andrew Manifield
http://www.articlesbase.com/finance-articles/there-are-bankruptcy-laws-that-can-protect-us-130014.html
Posted in bankruptcy file
14 Responses to “There Are Bankruptcy Laws That Can Protect Us”
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Here we go… Are you prepared for bankruptcy? If so don’t worry the Republicans protected themselves.?
The Republican party is responsible for the dilemma that we find ourselves in including Fanny Mae and Freddies bailout. They created the circumstances for the bailout to become necessary that is requiring us to have to step in. The created the regulatory atmosphere for Airlines to teeter on Bankruptcy, jobs to go overseas and Credit card companies to get theres no matter what. They created the War in IRAQ so that they could enrich themselves with no bid contracts. All the while compiling a astronomical debt… The Republican mantra is I got mine go get yours. It is one of Greed and Power and both McCain and Palin believe in it… If you are thinking that they are going to save us… realize that they created this mess… One more time will put you so far in the hole none of us will ever get back. You fell for it in 2000 and you were wrong…. You fell for it in 2004 and now your falling for it again. There is a reason that the Republicans moved to change the bankruptcy laws. It wasn’t to protect you It was to protect them. They know whats coming… Wake up America!!!!
wow dude, do you live in a bunker too?
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Cheers to you MATE – well said!
If Republicans come back in office than we are SCREWED.
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Go back to your Economics class in high school. It take 4- 8 years to see the affects of the previous president. So what you are seeing is from he affects of Clinton. I can not believe the ignorance of people on here. Educate your selves
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I wish America would wake up…its sad, that most people who vote republican don’t even understand any of the issues you have outlined. Sad.
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The only question you had in there was rather oblique but I’ll answer it anyway: yes, I’m prepared for bankruptcy.
The remainder of your rant is empty and unsubstantiated.
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i am awake thank you very much! bush sent my job to china 5 years ago, and i haven’t found one since! i was making 14.00 an hour now nothing!
and i lost my home because of him! but i thankfully my fiance’ found us a new one, and i did not have to get rid of my dogs. i would go homeless for them anyway.
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Fannie Mae,and Freddy mac are Liberal democrat ideas(ever hear of ACORN) a low income home lender through Freddie and Fannie.Its also a slush fund for the Lefts Political machine.Do us a favor,do some more research and this time get it from more than a left wing blogsite.
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Your basis is erroneous. It was an act of the Democratic controlled Congress to pass the bailout criteria.
Additionally, instead of providing bailout cash, which was also part of the act, the government now also owns the collateral, so your tax money being used for the bailout is now more secure than it would be under the previous system. This move is applauded by both parties because it will certainly lower the operating costs (the highly paid managers were fired) and will reduce the fixed rate available for mortgage rates.
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AMEN, BROTHA!! amen
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You must be joking! Vote in the dems and the entire country will go bankrupt. Then who will we be able to help!
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LOL….I have already " Obamaproofed " my deferred compensation money ( 401K ) by transferring everything I saved throughout my life from Morgan Stanley Emerging Markets Fund ( Small Cap Fund ) to the Stable Income Fund.
BTW – Until Obama started to run, my Morgan Stanley Fund had an APR of 43 %
Can I stick my tongue out at Obama now ?
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And of COURSE, the Democratically controlled Congress had NOTHING to do with any of your rant. When your question contains totally ridiculous statements, like "THEY" CREATED the war in Iraq, well, you lose a great deal of your credibility.
Fact is, Obama is the danger and threat to our country, not Republicans. See you on November 4th to send Obama back to his "friends" including Wright in Chicago.
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Okay then: The Democratic Congress wanted everyone to own a home so the loosened the requirements to allow that to happen. They gave ARM mortgages to first time homebuyers who had no idea what they were doing in some cases, certainly would not qualify under normal circumstances and then ARMs adjusted where the buyers income did not. Congress agreed on the bailout and saw the necessity to do so to stop the bleeding. The Republicans did not cause this. They don’t make people lose their homes – alot of people had NO BUSINESS buying a home with no down payment, no "meat" in the game. Republicans don’t make people live beyond their means and then thru life circumstances lose their job and they haven’t saved to cover expenses. They are not our keeper. We are adults and need to be accountable and responsible. McCain/Palin will give us the edge we need to be a world class leader in energy. They will bring jobs back to the US and we will create things again to sell to other countries! It is all good.
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