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Five
Post-Bankruptcy Myths
Posted: July 22nd, 2009
The decision to file for bankruptcy is typically a last resort
for consumers who find themselves plagued with debt. While
bankruptcy may offer a fresh start and relief from bills
incurred from divorce, unemployment and uninsured medical costs,
many consumers worry about how the decision will ultimately
impact their financial future. Will you permanently ruin your
credit? ..when will you qualify for credit again? Will you get
turned down for a job? .. or how about getting a new car or a
home? The myths of bankruptcy are looked at in this CNBC article
by creditcards.com
Debt settlement via firms can
be risky Down-on-their luck consumers have alternatives
including using an accredited debt-counseling agency or filing
for bankruptcy.
Posted: July 20th, 2009
It sounds like a great deal. Hire a "debt settlement" firm and
they'll make much of your debt go away. Gone! Poof! Disappeared!
For a fat-fee, these firms negotiate with your creditors to
reduce your debt in exchange for a quick partial payment. They
often promise to cut debt in half, and save customers "hundreds
of dollars a month." They're controversial, with critics
claiming they rarely live up to promises and sometimes leave
clients worse off.
Filing for Bankruptcy... find out if it's the right option for
you.
Posted: May 4th, 2009
Attorney Brad Botes appears on Birmingham's local ABC station,
33/40 News, to discuss the option of Bankruptcy and when you
should explore it as an option. (Flash Player is required to
view this video)
ABC 33/40 - Birmingham, AL
If you think Bankruptcy if only for the poor, think again...
Posted: April 9th, 2009
Comcast.net Smart Money
What does Walt Disney, P.T. Barnum, Anna
Nicole Smith, Heidi Fleiss, and Donald Trump Have in common?
They and 30 other well known celebrities have filed for
Bankruptcy.
Famed entrepreneur Donald Trump was $900 million in debt in
1990, but clawed his way back to the top after financial
restructuring. Bankruptcy protection can help people of all
financial make-ups. Find out more celebs who have sought
protection under the Bankruptcy Code. (read more)
Read more...
10 Things Credit Card Companies Won't Say 
Posted: March 11th, 2009
SmartMoney.com
Responsible credit card management is
important to a healthy financial future for every consumer.
Learning how to use credit responsibly is a key factor in
bolstering your credibility and avoiding possible bankruptcy.
Many people find out all too late that there are sometimes
catches and quarks that go along with using credit cards and
wind up paying for it the hard way.
SmartMoney Magazine takes a look at 10 things Credit card
companies won't say to the consumer. Increasing interest rates,
over limit fees, and universal default rates, all a good
thing... for them. But how does this all affect you? Nancy Nall
Derringer takes a look at this and more including the question,
"are credit card companies part of the identity theft problem?"
Read more...
House of Cards: The Faces Behind Foreclosures
Posted: March 4th, 2009
Time
Time.com
Jeff Wagoner is a bankruptcy attorney in
Kansas City, Mo., with the brush-cut hair and clear eyes of a
former Navy aviator. From his office in a tower on a hill, he
can see miles of prairie and a world of hurt. Wagoner's clients
(and he has plenty these days) range from folks who had no
business ever buying a house to folks freshly fired from
executive suites. Based on his survey of the economic wreckage,
Wagoner's conclusion is that even the slightest miscalculation
or change in circumstances could send another customer through
his door: "There are not a lot of second chances out there right
now."
Read more...
Debt-Relief Firms Attract Complaints

Posted: February 2nd, 2009
The Wall Street Journal,
wsj.com
As the economy weakens, a growing number of
consumers are paying big money for services from debt-settlement
companies that purport to help them settle their debts for a
fraction of what they owe.
Debt-settlement companies generally advise clients to make
monthly payments into a special account instead of paying
creditors. The firm promises to use the accumulated cash to
settle debts for pennies on the dollar. They often charge hefty
up-front fees, and their tactics can trash customers' credit
scores, boost their tax bills and leave them in greater debt
than when they started.
The
Case For Walking Away

Posted: January 7th, 2009
Newsweek,
newsweek.com
Most families, honorable to the end, struggle
longer than they should trying to repay their debt. If you're
reaching the end of your rope, don't try to hold on. Save what you
can. Read about some of the common mistakes people make in
delaying the decision to go bankrupt. Walking away from your debt
can in fact be the right answer for many people drowning in debt!
You may also view this article in PDF format.
(requires the free adobe acrobat reader)
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BANKRUPTCY NEWS
Bankruptcy information contained in this
section may not necessarily be written or provided by Bond and
Botes directly.
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