Xtreme Entrepreneurs Launches The 2005 Bankruptcy Law Reform Nationwide Tour
(ContentDesk) August 29, 2005 -- Most Americans do not have a clue as to what will happen to them and their finances starting Monday, October 17th, 2005. Ironically, this is the same day as the full moon so dress in your howling clothes.That is because the newest changes to the bankruptcy reform law were passed through into law so quickly with pure political motivations (both Democrats and Republicans are irresponsibly responsible) that once again, the biggest loser is the American public.Xtreme Entrepreneurs has been promoting successful entrepreneurship versus chronic unemployment and is in the process of creating entertainment themed products that focus on creating a vibrant economy that is not dependent on poverty as it is today.Thus, launching after Labor Day is the 2005 Bankruptcy Law Reform Nationwide Tour. It will give the public a chance to do the following:1. Find out about the new bankruptcy law reforms and allow them to make informed decisions.2. Hear and participate in discussions in respect to the problems with inaccurate credit bureau reports and how/what you can do to correct them.3.
Engage in discussions as to the reasons you have been turned down for financing to start your own business, while not being able to find traditional employment.4. Discuss the usurious interest on your credit card as well as how to alleviate your high debt loads.5. Why non-profit credit counseling services as well as social service agencies want to keep you trapped in poverty.6. Discuss the payroll loans market, and why insurance is so out of reach for many people.7. Discuss how government stifles entrepreneurship especially when it comes to creative expression.
The soon to be released movie "Karla" will be cited as an example.The above topics will be discussed by trained professional in their field who can offer practical advise to begin making effective changes to your financial situation.However, there will also be entertainment and people will be able to engage in music, dance, comedy and stimulating discussion on the theme of entrepreneurship, and gainful employment. Products and services will also be available for sale.Keep visiting the www.xtremeentrepreneurs.com website for more details as to times, dates, locations, and prices. Book early as seating is limited and will sell out quickly.For contact information:Stuart Weinstein416-948-8526www.xtremeentrepreneurs.comwww.thefilmtv.com.
Debt Settlement & Income Taxes -- What You Need to Know
Debt settlement has become a popular approach to resolving problem debts without having to file bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. This technique will certainly continue to grow in popularity now that the new bankruptcy law makes it tougher to fully discharge debts in a Chapter 7 bankruptcy.
As with anything, there is no free lunch, and creditors are required to report canceled debts to the IRS on Form 1099 (when the canceled balance is $600 or greater). Therefore, the possibility exists that you may owe taxes on the forgiven portion of the debt. For this reason, many financial writers and debt counselors are strongly critical of debt settlement, to the point where they actually recommend against it just because you might end up owing taxes.
But the tax consequences of settling your debts are greatly over-emphasized, and this...
Debt Settlement & Income Taxes -- What You Need to Know
Bankruptcy > Debt Settlement & Income Taxes -- What You Need to Know
Ten Ways to Get Out of Debt
1) Use your AssetsIf you have assets with some significant equity, such as a home or a car you may be able to use these to get control of your debt. For example, you could get a loan on your home sufficient to pay off your debts. You could be saving a considerable amount of money on interest if you pay off high interest credit card debt in return for lower cost debt.If you have a car, consider selling it, paying off your debts and buying a cheaper car. Be careful though! Your don't want a "cheaper" car that will cost you a fortune in repair costs.2) Get a Second JobUse the money from this job to only pay off your debts. List your debts noting the interest rates.
Pay off the debts with the highest rates first and work your way down the list.3) Put your Credit Cards on HoldOne of the best steps you can take to get out of debt is to immediately stop using credit cards. At the very least destroy all your cards keeping just one card for emergencies.4) Set up a Repayment PlanCut back...
Ten Ways to Get Out of Debt
Bankruptcy > Ten Ways to Get Out of Debt
Best Debt Consolidation Website Online Launches Today--Repair Credit With A Debt Consolidation Loan For Debt Assistance.
(ContentDesk) June 15, 2004 -- Best Debt Consolidation Website Online Launches Today--Repair Credit With A Debt Consolidation Loan For Debt Assistance.If you struggle with bad credit, credit card debt, or are facing bankruptcy, our bankruptcy/debt counseling resources can help you understand your finances better and help you improve your financial standing.BCR Bankruptcy Counseling now provides those who are in debt or suffering from bad credit with many different forms of debt relief including debt consolidation loans. After we perform an analysis of the client's debt, our experts can assist them in becoming completely debt-free in less than five years - completely independently. BCR's financial analysts teach their clients how to save more than 50% with debt consolidation.BCR offers solutions for those that experience credit card debt problems. BCR Bankruptcy Counseling is a web resource that explains how to cut your credit card payments in half with credit card debt consolidation...
Best Debt Consolidation Website Online Launches Today--Repair Credit With A Debt Consolidation Loan For Debt Assistance.
Bankruptcy > Best Debt Consolidation Website Online Launches Today--Repair Credit With A Debt Consolidation Loan For Debt Assistance.
Chapter 7 Bankruptcy Qualification
Filing for bankruptcy has become the only relief for thousands of people who are experiencing massive debts. According to section 11, an individual, a partnership or a corporation or other business entities can qualify for relief under chapter 7 of the Bankruptcy Code.
On October 17, 2005, a "means test" was enacted to determine whether a debtor is eligible to file chapter 7 bankruptcy or not. The purpose of the means test is to find out whether a debtor has enough disposable income after deducting certain allowed expenses and required debt payments. If an income is below the median income, then the debtor will be eligible. If the income is more than the median income for families in their state, then the income over the past six months is considered, along with mortgage and other dues up to $1500 per year.
One will be disqualified for a chapter 7 bankruptcy if, after deducting these amounts, they can still pay at least $6,000 to unsecured creditors over five years....
Chapter 7 Bankruptcy Qualification
Bankruptcy > Chapter 7 Bankruptcy Qualification
Bankruptcy
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