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Start Fixing your credit today!!!
The only thing you legally need to supply the credit bureaus for a copy of
your report is your name, your social security number and a legal mailing
address (P.O. Box is a legal address). If you don't want to chance harassment by
creditors at this time, it may benefit you to acquire a P.O. Box. Did you know
that many of the collection agencies are owned by the credit bureaus?
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Bankruptcy Reform
Author: Tim Gorman
There are some new bankruptcy laws going into effect before long and many think they are much needed. Of course, that depends on which side of the bankruptcy you are a part of. Creditors are going to be the ones to benefit from the new laws, but there may be some helpful regulations for those filing for bankruptcy as well. The new bankruptcy code requires certain filing procedures that do seem beneficial for the consumer. For instance under the new bankruptcy code, a consumer is required to take a financial counseling course within the 6 months prior to filing for bankruptcy. Financial counseling may lend to a person deciding that bankruptcy is not actually the best option for them. Most people don’t even take this step before heading straight for the bankruptcy lawyer. This requirement may save many consumers from making a rash decision.If your current monthly income is more than the median in your state then there are other factors to consider before you can file for bankruptcy. By multiplying your current monthly income, minus expenses, by 60, you get what is referred to as the result. If the result is less than $6000 or 25% or less of your unsecured debt amount, then you can file for chapter 7 bankruptcy. If it is 25% or more of your unsecured debt, or $10,000 or more, then you are required to file for chapter 13 bankruptcy. A financial management course is required after you have filed for bankruptcy and prior to the bankruptcy discharge. There are financial management tools that can help you to avoid landing yourself in bankruptcy court a second time. Obviously, bankruptcy reform is intended to cut down on the number of bankruptcies. This is a realistic goal when you put these factors into play. It may not make for very happy consumers, but the creditors are certainly going to be in a much better position. Timothy Gorman is a successful webmaster and publisher of Debt-Relief-Solutions.com. He provides more debt relief, consolidation and bankruptcy as an option information that you can research in your pajamas on his website.
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