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Can I Buy a House After Bankruptcy?
Can I File for Bankruptcy for Free?
Filing Bankruptcy for Small Business Relief
How Does Bankruptcy Affect a Credit Score?
How to Compare Debt Settlement vs. Bankruptcy
How to Erase Bankruptcy
How to Establish Credit a Year After Bankruptcy
How to Establish Credit After Bankruptcy
How to File Bankruptcy
How to File for Bankruptcy as an Individual Debtor
How to File for Bankruptcy for Your Business
How to Get a Bankruptcy Off Your Credit Report
How to Get Out of Debt Without Bankruptcy
How to Purchase a Car During Chapter 13 Bankruptcy
Renting a House During Bankruptcy
Tricks of Bankruptcy
Types of Bankruptcy
What Happens After Bankruptcy?
What Is Purchase Money Security Interest in Bankruptcy?
What Is the Fair Credit Reporting Act?
Comparing Consumer & Business Bankruptcies
What Is Chapter 7 Bankruptcy?
What Is Chapter 11 Bankruptcy?
What Is Chapter 13 Bankruptcy?
What Is Chapter 9 Bankruptcy?
What Is an Unsecured Claim in Bankruptcy?
What Is a Secured Claim in Bankruptcy?
How are Federal Exemptions Determined in Bankruptcy?
Requirements for Eligibility for Chapter 13 Bankruptcy
What Is an Executory Contract & Breach?
What Is a Fraudulent Conveyance?
What Is Equitable Subordination?
How to Determine If a Conflict of Counsel Exists in Bankruptcy
How to Determine Jurisdiction for Bankruptcy
How Do Judgment Collections Work in Bankruptcy?
How to Negotiate a Corporate Bankruptcy Plan
Debt settlement can be a tricky game, as it can save the borrower money while simultaneously creating tax … More
Debt settlements and bankruptcy plans vary with regard to building credit scores and tax liability. Seek l… More
Debt settlement companies are actually formed by credit card companies in an effort to get some money paid… More
The response you get from a phone representative at a credit card company has a lot to do with why you're … More
Report a complaint on a credit card company to the Better Business Bureau or the Federal Trade Commission.… More
While credit card companies should owe a duty of care to their customers, they really do not at all. Find … More
When you've got a high amount of credit card debt, it's hard to make any headway even if you're making the… More
In order to get out of vehicle debt, the simple answer is to pay whatever is owed on the vehicle so that t… More
A car payment can take a chunk of your monthly income, so many people look for ways to get rid of their ca… More
So you have a 30-year mortgage and you want to pay it off early by making larger payments. You need to kno… More
Selling a home at lower than the payoff is common in times of financial hardship, as the amount owed is gr… More
Using savings to pay off a personal loan is not advisable because savings are intended to use for emergenc… More
Many people have found out the hard way that it's all too easy to rack up huge amounts of credit card debt… More
Summary: Debt settlements and bankruptcy plans vary with regard to building credit scores and tax liability. Seek legal advice and learn about the tax implications of debt settlement with information from a lawyer in this free video on bankruptcy.
Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3,000 bankruptcy cases. Forman is a member of the Florida Bar and...read more
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"You're experiencing some financial difficulties and you're considering some options. You're considering bankruptcy or you may have heard about debt settlement companies. There are positives and negatives to each. Bankruptcy is quite simple. You file a bankruptcy. The debts that are dischargeable are discharged. In a debt settlement program, you negotiate with your creditors for an installment payment on a compromised amount. The negative to debt settlement is that when you file a bankruptcy you're credit is going to reestablish itself in two to three years. With debt settlement, these debts are in part charged off and they stay on your credit report under the Fair Credit Reporting Act for up to seven years from the last activity. There are also issues in debt settlement with the voluntary forgiveness of debt and tax liability with the IRS. The answer to the question is you need to speak to a competent professional who can guide you to talk to you about the tax implications of debt settlement. Talk to a bankruptcy lawyer to find out about what the long term effect is going to be on your credit and to help you evaluate and make the best choice whether it be debt settlement or bankruptcy. You need to seek advice. My name's Andy Forman and good luck."
eHow Article: How to Compare Debt Settlement vs. Bankruptcy
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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