Cash News Headlines

Bankruptcy Liquidation

admin — Sun, 14 Feb 2010 10:55:42 +0000

Chapter 7 is another term used for Bankruptcy liquidation which is a legal process that will erase most and often, all of your debt. This takes time, often between four and six months, and can be filed for by businesses and individuals. If you own a particular type of properties, you will be asked to sell them as a way to pay toward you debts. Some property can be taken from you and some cannot but each state has its own laws for this.
To qualify, you can not have filed for a prior Chapter 7 bankruptcy with the last eight years and your income must be at or lower than that required by your state. Credit counseling will be recommended and then the paperwork begins. Once it is filed, you are now safe from lawsuits, eviction, foreclosure and wage garnishments and utilities companies cannot shut off your services.
At the end, not all debt is liquidated. Tax debt for one along with child support or student loans. You will then no longer be in debt to any creditor and for the next ten years, a record of your filing will be on your credit report.

Reasons for a Payday Loan

admin — Tue, 26 Jan 2010 10:52:53 +0000

Don’t you just hate that all the big emergencies always happen when your bank account is at it lowest? That is where the Payday loan comes into play. Car repairs are always a big expense and unless you can walk to work, you will need that repair done right away and with the cash, you are stuck.
Sometimes car repairs can take days and so now you need a rental car. If you have just one car, you will need to rent one while you are waiting. The cash advance for a rental car and save the day. Then you wake up during the night with a toothache and now need to get to the dentist or a doctor visit is needed and you are one of those people with no health insurance. Here again, the Payday loan can come in handy.
Emergency home repairs can pop up anytime also and most cannot be put off till another day. Maybe your high utility bills are due and payday isn’t for another week. The Payday loan can be a life saver, just don’t get in to deep with their offers of more cash.

Debt Settlement Benefits

admin — Mon, 28 Dec 2009 10:51:16 +0000

For those will access to extra funds, they can get out of debt fast and if they are smart, they will remain that way. The agreement between your creditor and yourself is referred to as debt settlement and can be done as structured payments or in one lump sum. Once you are successfully debt free your bills are gone forever.
Generally the creditor will close your account once you have paid it off as this will certainly stop you from using them again. Those phone calls will stop and you will have avoided bankruptcy or other legal action that can be taken against you. Because there are not more late fees showing up on your credit report, it will actually get better over time.
By paying off all your debts, you will also not have that interest continue to be added to your balance or end up paying double the amount that you charged to begin with. Money you will save for sure, and your peace of mind too so your life will be better for finding that way to rid yourself of debt.

Do You Lend Money?

admin — Sun, 22 Nov 2009 10:49:34 +0000

Lots of people have lent money to a friend or family member at one time and is typically done when someone needs funds for an emergency of some sort. We lend to friends to help them because we care about them but many times this can take a told on the relationship. If you really think about it, that person you lend to did something wrong for that need to come about in the first place.
What will change that will then allow that person to be able to pay you back? A time limit should be put in place first of all and one that you both agree on. You could put it on paper with a due date and repayment terms. If the who asked for the loan puts up a fuss, then think twice about the loan. Because your first responsibility is to yourself and your family, if you have one, can you afford to give the loan?
Then ask yourself, what if this loan cannot ever be paid back? Are you OK with that idea because money loaned as a nice gesture can certainly create hard feelings no matter who you help.

Bankruptcy And The Aftermath

admin — Thu, 05 Nov 2009 10:47:31 +0000

Debt can grow until it is out of control and could lead some to file for bankruptcy. The word scares many people because it is such a misunderstood term. How many people know what it really does and the implications of it. Bankruptcy can offer a clean slate for someone with financial troubles that they are unable to deal with.
Bankruptcy can be caused for many reasons like foreclosures, lawsuits, unemployment and divorce. Chapter 7 and Chapter 13 are the two most common types of filing. Chapter 7 will erase all unsecured debts but property can be in jeopardy where Chapter 13 is done as a way to pay those debts but with supervision. A time frame is given and the court will oversee all payments.
Because of abuse of this system in the past, you will have to prove that you are unable to pay your debts and that is where that choice of each chapter comes in. If you are seen able with the income you have, you don’t get to choose, the Chapter 13 will be your only choice. An investigation will take place as to your actual lack of payback.