Category : Bankruptcy : Business & Finance

How Does Wage Garnishment Work?

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What is wage garnishment and who can pursue it?Wage garnishment is a way for those who are owed money to collect it directly from the debtors paycheck. This is often a last resort, after other means of collecting have been unsuccessful. Wage garnishment can only be done by someone that...

What Is Forgiven Debt?

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When a creditor forgives a debt, many consumers are surprised to find that they still owe money because of the unpaid loan. Forgiven debt can trigger income tax, which is far harder to evade than most private loans. Depending on your financial situation, you might be able to convince a creditor to c

Exchangeable Vs. Convertible Note

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Exchangeable notes and convertible notes are termed structured products--a pre-packaged investment strategy based on a derivative such as a security--in the financial markets. Both the exchangeable and convertible notes are linked to an underlying security which is normally a certain class of stock

Chapter 11 Bankruptcy

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The most popular forms of bankruptcy are Chapter 7 and Chapter 13; however, these forms of bankruptcy are limited by factors like how much debt you have.An individual or business with debts that exceed $336,900.00 unsecured or secured debts of at least $1,010,650.00 need to file Chapter 11 bankruptc

Cancellation of Debt & Insolvency

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Debt seems to be growing into an American pastime. According to a recent report from the U.S. Federal Reserve, almost 160 million Americans will be making service payments on over $1 trillion in credit card borrowing. For those that can’t keep up, insolvency raises the question of whether ther

Regulation of Debt Collection Agencies

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The Fair Debt Collections Practices Act (FDCPA) is a federal law enacted to protect consumer rights regarding debt collection. Under the FDCPA, consumers have the right to obtain information to ensure the accuracy of debt information, and the right to be free of abusive collection practices. The Fed

How To Go Bankrupt And Keep Your Home

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The personal bankruptcy process can be one of the most effective ways for debtors to eliminate large portions of debt, though the process itself also brings with it some significant consequences. Filing bankruptcy can be both stressful and time-consuming and it can also cost a fair amount of money.

How to Sell an Abandoned Motorcycle

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You may find yourself in possession of an abandoned motorcycle under a variety of different circumstances. You may encounter a motorcycle on a remote part of your private property, for instance. If you own a business, you may arrive one day to find a motorcycle parked on your property with no appare