217647 53 Business & Finance Personal Finance Debt true Wed, 16 Jul 2008 10:41:22 -0700 business, finance, personal, financing, declaring, money, debt, broke, aid How To Declare Bankruptcy http://www.howcast.com/videos/217647-How-To-Declare-Bankruptcy http://www.howcast.com/videos/217647-How-To-Declare-Bankruptcy/edit live 1 Rosemarie_Lennon http://img.howcast.com/images/icons/howto-xxlarge.png 3478 85269 1 0 Step Understand what it means Understand bankruptcy. Declaring bankruptcy shelters you from having to repay certain debts. It does not mean all is forgiven. You remain responsible for student loans, back alimony and child support payments, overdue taxes, money awarded your spouse in a divorce, and judgments for assaulting someone or driving drunk.

]]> 85270 2 0 Tip Under new laws passed in 2005, filing for bankruptcy no longer puts eviction proceedings, child support lawsuits, and divorce filings on hold.

]]> 85271 3 0 Step Determine eligibility Figure out if you’re even eligible to declare bankruptcy. If you have a steady income above your state’s median, and if it would be obvious to the government that you could afford to pay $100 a month toward your debt if you cut out extras like cable TV, you can’t file for Chapter 7 bankruptcy — the one that wipes out many of your debts.

]]> 85272 4 0 Tip If you are a Hurricane Katrina survivor, the rules for bankruptcy eligibility are more lenient.

]]> 85273 5 0 Step Consider Chapter 13 bankruptcy Consider whether you might be a good candidate for Chapter 13 bankruptcy, which reorganizes your finances into a three- or five-year plan of partial repayment. The advantage to Chapter 13 is that you may be able to hang on to your home, something that was made more difficult by bankruptcy reforms.

]]> 85274 6 0 Tip Chapter 11 bankruptcy — the one you’ve probably heard of — involves complex financial restructuring and is mainly used by businesses or people with significant assets and debts.

]]> 85275 7 0 Step Stop spending on nonessentials Stop all unnecessary spending. While it may be tempting to max out your credit cards with luxury items and cash advances right before filing for bankruptcy, this is considered “debtor’s fraud” and you’ll be held responsible for it.

]]> 85276 8 0 Step Get credit counseling Meet with a government-approved credit counselor about working out a way to repay your debts. This is mandatory before you are allowed to file for bankruptcy, and it must be done in the six months prior to filing. Get a list of accepted agencies from your local bankruptcy court, which you can find on uscourts.gov.

]]> 85277 9 0 Step File a petition File a petition with the U.S. Bankruptcy Court. You’ll need to submit a detailed list of your assets and debts, a copy of your most recent tax return, a statement of your income and expenses, and other documents. You can do this on your own, but it’s not advised. Ask a legal aid office if you qualify for free representation.

]]> 85278 10 0 Step Face your creditors Within 60 days of filing, you will be required to face your creditors at a court meeting and answer questions about your financial affairs.

]]> 85279 11 0 Step Kiss your assets goodbye If your petition for Chapter 7 bankruptcy is accepted, a U.S. trustee (or bankruptcy administrator, if you live in North Carolina or Alabama) will begin liquidating your assets in order to pay back your creditors. You may keep any tools that help you earn a living.

]]> 85280 12 0 Tip You may keep your car if you can work out a separate repayment plan for it.

]]> 85281 13 0 Step Attend money management classes Enroll in a government-approved financial management education program. This mandatory course, which you must pay for, must be completed before any of your debts are erased.

]]> 85282 14 0 Step Get your fresh start Expect to have your debts discharged about three months after your filing date.

]]> 85283 15 0 Fact Abraham Lincoln, Mark Twain, Harry Truman, and Walt Disney all filed for bankruptcy.

]]> 53 6259 What Is a Collection Agency? 62 Sun, 04 May 2008 14:10:51 -0700 1 CreditScore ]]> 57 http://media.howcast.com/system/videos/1/59/62/6259.flv collection agency credit Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/6259/25_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/6259-What-Is-a-Collection-Agency 53 6260 What Is a Collection Agency ? 46 Sun, 04 May 2008 14:25:46 -0700 1 VideoCreditScore ]]> 57 http://media.howcast.com/system/videos/2/60/62/6260.flv collection agency credit Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/6260/25_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/6260-What-Is-a-Collection-Agency- 53 11294 The Realities Of Debt Negotiation 211 Mon, 02 Jun 2008 11:50:48 -0700 1 dmillerart ]]> 108 http://media.howcast.com/system/videos/3/94/12/01/11294.flv credit card debt negotiation settlement Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/11294/50_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/11294-The-Realities-Of-Debt-Negotiation 53 11436 Foreclosure Hell 53 Mon, 02 Jun 2008 20:08:41 -0700 1 markatenterprises ]]> 293 http://media.howcast.com/system/videos/5/36/14/01/11436.flv foreclosure bill process stop help Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/11436/145_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/11436-Foreclosure-Hell 53 21750 Bankruptcy Gets Rid Of Taxes?? Sometimes BK Is the Answer 60 Fri, 25 Jul 2008 08:31:24 -0700 1 dtm62367 ]]> 238 http://media.howcast.com/system/videos/1/50/17/02/21750.flv bankruptcy taxes irs gets rid tax Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/21750/115_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/21750-Bankruptcy-Gets-Rid-Of-Taxes-Sometimes-BK-Is-the-Answer 53 22488 How To Stop Foreclosure on Your Michigan House 12 Tue, 29 Jul 2008 18:38:59 -0700 1 glhsinc ]]> 352 http://media.howcast.com/system/videos/4/88/24/02/22488.flv stop foreclosure michigan short sale short-sale avoid how to Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/22488/175_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/22488-How-To-Stop-Foreclosure-on-Your-Michigan-House 53 23018 Negotiating With Your Lender 35 Thu, 31 Jul 2008 18:32:03 -0700 1 moneytalks ]]> 92 http://media.howcast.com/system/videos/2/18/30/02/23018.flv news, money talks, personal finance, money, save, loan, lender, debt, credit, finance, investing, negotiate, mortgage Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23018/45_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23018-Negotiating-With-Your-Lender 53 23164 Credit Counseling or Debt Settlement? 45 Fri, 01 Aug 2008 09:54:31 -0700 1 moneytalks ]]> 91 http://media.howcast.com/system/videos/1/64/31/02/23164.flv news, money talks, personal finance, money, save, credit counseling, debt settlement, interest rate, debt, credit Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23164/45_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23164-Credit-Counseling-or-Debt-Settlement 53 23267 Paying Down Mortgage Vs Investing Your Money 39 Fri, 01 Aug 2008 15:06:51 -0700 1 moneytalks ]]> 88 http://media.howcast.com/system/videos/6/67/32/02/23267.flv news, money talks, consumer finance, personal finance, money, save, mortgage, invest, house Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23267/40_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23267-Paying-Down-Mortgage-Vs-Investing-Your-Money 53 23269 CARE About Bankruptcy 22 Fri, 01 Aug 2008 15:07:56 -0700 1 moneytalks ]]> 97 http://media.howcast.com/system/videos/1/69/32/02/23269.flv news, bankruptcy, education, care, students, learning, family, debt Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23269/45_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23269-CARE-About-Bankruptcy 53 23276 Cutting Debt: Tips From Pros 61 Fri, 01 Aug 2008 15:10:58 -0700 1 moneytalks ]]> 91 http://media.howcast.com/system/videos/1/76/32/02/23276.flv news, debt, saving, money, finance, investing, new year, secret Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23276/45_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23276-Cutting-Debt-Tips-From-Pros 53 23711 Buried in Debt: Funeral Expenses 16 Mon, 04 Aug 2008 10:13:53 -0700 1 moneytalks ]]> 86 http://media.howcast.com/system/videos/2/11/37/02/23711.flv news, money, finance, business, funeral, death, saving, best Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/23711/40_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/23711-Buried-in-Debt-Funeral-Expenses 53 24910 How To Stop Foreclosure in Detroit Michigan Area 16 Sun, 10 Aug 2008 04:44:14 -0700 1 glhsinc ]]> 352 http://media.howcast.com/system/videos/4/10/49/02/24910.flv stop foreclosure michigan short sale short-sale avoid how to forclosure detroit oakland county macomb Business & Finance Personal Finance Debt 0 http://img.howcast.com/system/thumbnails/24910/175_xxlarge_maintained_aspect.jpg http://www.howcast.com/videos/24910-How-To-Stop-Foreclosure-in-Detroit-Michigan-Area 53 219981 Business Tips - What Is Debt? 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