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A Very Personal Bankruptcy
from: Deb St. George - HomelessInKingCounty.comFiling a personal bankruptcy is a major decision and one that only you can make. It’s no secret that it can have long term consequences on your credit. But the question to ask yourself is whether those consequences are better or worse than the consequences of debt spiraling out of control. It doesn’t take long for people to discover that debt only gets worse when ignored.
A personal bankruptcy is called “personal”, because it applies to an individual and not a business. It’s also very personal, because the bankruptcy is structured to meet your particular circumstances. But having said that it’s also necessary to recognize that there are specific laws that define bankruptcies in terms of what’s allowed and not allowed. For personal bankruptcies, you can file a chapter 7 for liquidation or a chapter 13 for a repayment plan.
A personal bankruptcy can do some things to help people deal with their debt, but there are other things outside its realm of control according to law. For example, a personal bankruptcy cannot erase all types of debt. These debts include child support, court ordered payments and criminal fines. The attorney will negotiate with the IRS to determine which tax debts can be eliminated. Also, any debt you create after the bankruptcy is not grandfathered into the order. On top of that, a creditor can make you give up any collateral you used to secure debt instead of just accepting payments.
The good news is that a personal bankruptcy can do lots of great things to make your life easier and give you a new start. Excessive debt feels like you’re carrying hundreds of pounds around on your shoulders all the time. Filing a bankruptcy takes most of that weight off.
There are plenty of good results you will experience as a result of filing bankruptcy. One of the best is the fact that most of your debts are discharged. That means you no longer have the debt and don’t have to pay it. A bankruptcy can prevent your house or car from being taken in a foreclosure or repossession. If you waited to file long enough to have your utilities turned off, they will probably be restored. There are other benefits too, and it is the job of your attorney to make sure you get the most financial relief allowed by the law.
Filing a bankruptcy can actually help your credit if your credit is already virtually ruined. That’s because a personal bankruptcy wipes out the debt you owe and lets you start again with a clean slate. If you work and save money and make timely payments on remaining debts, in all likelihood you will be able to begin rebuilding your credit within a few months of the final bankruptcy discharge.
A personal bankruptcy can remain on your credit history for 10 years. You cannot file another bankruptcy for 4 years on a chapter 7 and for 8 years on a chapter 13. Filing a bankruptcy is a long term decision with near term benefits. A bankruptcy attorney can help you start over again with a new financial life.
United Airlines Bankruptcy News
United Airlines ends coach preboarding for children - CNN
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United Airlines and Avianca Bring North and South America Closer Together ... - MarketWatch (press release)
United Airlines and Avianca Bring North and South America Closer Together ... MarketWatch (press release) United Airlines and Avianca signed a codeshare agreement to offer their customers more and improved flight options. The agreement allows both companies to commercialize flights operated by the other under their own code, therefore combining segments of ... |
Pilots Invite United Airlines Execs to Tour 'LAX Ghetto' - LAist
 LAist | Pilots Invite United Airlines Execs to Tour 'LAX Ghetto' LAist United Airlines pilots sent a public letter to invite management to tour what they call the "LAX Ghetto," a section of the parking lot where many of them spend the night in motor homes as they wait for their next shift. The tour will be held tomorrow, ... United Airlines Pilots Turn LAX Parking Lot Into 'Ghetto' Where They Sleep ... United's pilots union invites firm's execs to see 'LAX Ghetto,' where pilots sleep |
Southwest will pay for $100M expansion in Houston - BusinessWeek
 USA TODAY | Southwest will pay for $100M expansion in Houston BusinessWeek By DAVID KOENIG Southwest Airlines Co. promises to pay for $100 million in airport improvements so that it can launch international flights from Houston's Hobby Airport over the objections of United Airlines. With the Southwest pledge, Houston Mayor ... Domestic giant Southwest sticks nose into international air Southwest Airlines promises cheaper flights to Mexico with $100000000 Hobby ... ABC13 Exclusive: Southwest CEO speaks out about proposed Hobby Aiport expansion |
United Airlines reportedly spills passenger information - Ars Technica
United Airlines reportedly spills passenger information Ars Technica While trying to purchase airline tickets from United.com, the site displayed the names of people he had never heard of. "Kind of scary, and nothing I had any business looking at," Ben Sedat, an engineer for Tinfoil Security, wrote in a blog post ... |
United Airlines to Fly Denver-Tokyo Nonstop With Boeing 787 - CNBC.com (blog)
 CNBC.com (blog) | United Airlines to Fly Denver-Tokyo Nonstop With Boeing 787 CNBC.com (blog) United Airlines on Tuesday announced the launch of a daily nonstop flight from Denver International Airport to Narita International Airport in Tokyo. Service begins March 31, 2013. "Our customers will enjoy the direct, nonstop service on our new Boeing ... United to fly Dreamliner on Denver-Tokyo route UNITED AIRLINES AND DENVER SAY "KONNICHIWA" TO TOKYO United Airlines reaches contract deal with machinists union |
Amigos And United Announce Eighth Annual Latin America Photo Contest - MarketWatch (press release)
Amigos And United Announce Eighth Annual Latin America Photo Contest MarketWatch (press release) HOUSTON, May 23, 2012 /PRNewswire via COMTEX/ -- United Airlines and Amigos de las Americas (AMIGOS) announce the Eighth Annual United Latin America Photo Contest. Photos will be accepted until June 30, 2012. The winner will be announced In July on the ... |