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August 2013 Archives

How your home factors in to the Chapter 7 equation

It is perfectly natural for any person in a desperate financial situation to consider bankruptcy. One of the first questions they are likely to consider is "how will this filing affect my home?" There are a few things to consider here, specifically in regards to a Chapter 7 bankruptcy filing.

Negative amortization, and how it effects people and businesses

Have you ever heard of "negative amortization?" The term refers to debt that increases faster than you can pay it off. Usually negative amortization occurs because the interest on a loan or some credit exceeds the minimum payment that the in-debt person is making. But ever since 2003 -- when financial rules were changed to force lenders to make their minimum payments at a level that would pay off the debt "over a reasonable period of time" -- negative amortization has become increasingly rare.

Bankrupt business owners have a few choices at their disposal

It doesn't matter where you are located -- businesses go bankrupt all the time. Companies that are big or small; firms that are international in scope or are simply a local small business; and organizations that have an extensive footprint on their industry, or are merely just getting started; all of these entities, and every company inbetween, could go bankrupt. It's the nature of business.

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