Prevent Foreclosures

If you are facing foreclosure, then it is wise to find out all the options that may be available to you. In some cases, you might be able to stop foreclosure completely and keep your home but in others you might have to sell your home and move on. There are a few foreclosure situations where filing for bankruptcy protection is one of the best ways to do to give the homeowner a fresh start in life. If it comes down to filing for bankruptcy, you need to make sure that you know what you are getting yourself into. You need to get as much information about bankruptcy and what it will mean to your life. This book called When You Have to File for Bankruptcy: Step-by-step Instructions to Take Control of Your Financial Future has step by step instructions of what you need to do.

According to the United States Bankruptcy Courts, the number of bankruptcies filed each year is on the rise. People file bankruptcy for a variety of reasons, such as:

• preventing foreclosure on their homes,
• preventing repossession of property,
• loss of employment, or
• reducing or eliminating debts.

Most common types of bankruptcy for individuals

The most common types of bankruptcy for which individuals file are Chapter 7 and Chapter 13.

Chapter 7 involves the surrender of property to pay debts, while a Chapter 13 bankruptcy allows for the retention of property but requires payments over the next three to five years.

This book is divided into three sections: evaluating your need to file for bankruptcy, how to file for bankruptcy, and what to do after you have filed. In the first section, you will be provided with evaluation tools, determine your eligibility, learn how to check your credit report for accuracy, and learn about the different types of bankruptcy for which you can file.

In the second section, you will learn about the major changes in bankruptcy law, bankruptcy lawyers, alternatives to filing for bankruptcy, bankruptcy code, collection agencies, exempt property, nondischargeable debts, what bankruptcy can and cannot accomplish, the automatic stay provision, foreclosure, tax levies, bankruptcy fees, the 341 meeting, bankruptcy myths, the initial consultation with your lawyer, and bankruptcy timelines. You will learn the answers to some of the most common questions about bankruptcy, such as:

• Will creditors stop harassing me?
• Will my spouse be affected?
• Who will know about my filing?
• Will I ever get credit again?
• What does it cost?

The final section will provide a brief overview of what to do after you have gone through the bankruptcy process. We will address the issues of how to get car loans and home loans and how to build credit after bankruptcy. Whether you are filing for bankruptcy for the first time or, unfortunately, you have been through it before, When You Have to File for Bankruptcy will provide insight into the complex and burdensome process.

When people are in foreclosure and they do not have any other choices, they often think about filing for bankruptcy protection. But the bankruptcy laws have changed quite a bit recently and the new bankruptcy laws make it harder for people to seek protection. Find out if you can file for bankruptcy protection and if it will help you save your home from foreclosure in this The New Bankruptcy: Will It Work for You? book.

"Authoritative, comprehensive and packed with helpful advice and useful information, including state-specific details." (Eric Tyson, best-selling author of Personal Finance for Dummies and Mind Over Money )

"With last year's change in the bankruptcy laws creating unprecedented confusion in the field, it's important to know whether it remains a viable option, and this book will offer both explanations and reassurances..." (Accounting Today )

Description

Considering bankruptcy? Get the facts and find out how bankruptcy could work for you.

Bankruptcy laws have changed, and figuring out how to use them effectively is harder than ever. For plain-English guidance you can trust, turn to The New Bankruptcy.

Get the clear-cut answers, information and strategies you need to figure out whether bankruptcy is the right solution for your debt problems.

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