Debt Relief Options in AtlantaWhether it is to discharge a mortgage, credit card debt, or student loan debt, citizens of Atlanta are often searching for debt relief options. The most popular type of a debt relief option is a settlement with a creditor. In a settlement, a debtor and creditor negotiate a payment amount that is less than what is originally owed. Of course, such settlements can be troubling for the impact on a credit score they might cause. With mortgages various kind of refinancings remain popular. With student loans there are different sorts of repayment plans possible -- Standard; Graduated; or Income-Based. To learn about more debt relief options, a debtor might consider getting some credit counseling or simply making a budget. As for those people who have exhausted the various debt relief options and are considering a Chapter 7 or Chapter 11 bankruptcy to stave off creditors, they should probably speak to a competent Atlanta Bankruptcy attorney. |
Many times, people who face bankruptcy are also facing foreclosure.
For the most part, you can't get out of your mortgage by declaring bankruptcy. While in theory, a Chapter 7 bankruptcy will discharge your mortgage, it doesn't remove the lien on your house. So if you want to keep your house, you still have to make monthly payments.
While the majority of student loans are federal, an increasing number of number of students now rely on private loans to cover their expenses. About 90% of those loans require co-signers, up from about 50% six years ago, according to The Wall Street Journal.
As a result, more and more parents and grandparents are on the hook when young graduates can't pay. Many co-signers are forced to file for bankruptcy under the weight of their debt.
Unfortunately, shedding student loan debt through bankruptcy is no easy task.
HMX Group's suits just may be the only thing President Barack Obama and Mitt Romney can agree on. At the last debate, for instance, Obama wore a Hart Schaffner Marx suit, while Romney was decked out in a Hickey Freeman. Both brands are owned by bankrupt HMX.
Now that the company has hit hard times, many brand aficionados are concerned that the classically American suits may soon sport "Made in [insert foreign county]" tags. However, lead bidder Authentic Brands Group LLC has assured customers that if it acquires HMX, the suits will continue to be made in the U.S., The Wall Street Journal reports.
Republicans have new ammo in their attack on the Obama administration’s green energy initiatives.
The federal government gave Lithium-ion battery maker A123 Systems a $249 million grant to help the fledgling company produce electric car batteries, NBC News reports. Unfortunately the demand for electric cars was too low, and the company has filed for Chapter 11 bankruptcy.
A company owned by Rich Dad, Poor Dad author Robert Kiyosaki is heading into bankruptcy, Forbes reports.
Was it Kiyosaki’s financial advice that did the company in? Not exactly. In August, Rich Global LLC filed for bankruptcy protection after it was ordered to pay around $24 million to the Learning Annex and its chairman, Bill Zanker.
With the economy in shambles, more and more people are relying on credit cards to make ends meet. The good news for those struggling with credit card debt is that, unlike student loans and tax debt, credit card debt is usually discharged in bankruptcy, meaning it's erased post-bankruptcy.
Of course, your credit score will take a considerable hit if you file for bankruptcy. Below, we've included a few things to keep in mind if you're considering using bankruptcy to wipe out your credit card debt.
Hologram Tupac will live to see another day. James Cameron's Digital Domain Media Group, the company responsible for the hologram and the computer-generated images in many of Hollywood's biggest blockbusters, will exit bankruptcy through a sale.
U.S. Bankruptcy Judge Brendan Shannon approved the company's sale to Reliance MediaWorks and China-based Galloping Horse America for $30.2 million, The Wall Street Journal reports. Cameron's company was able to find a buyer and set up a deal during an unprecedented sale timeline of less than two weeks.
University of Arkansas football coach John L. Smith announced in July he was broke and that bankruptcy could be on the horizon.
That prediction came true earlier this month, when Smith filed for Chapter 7 bankruptcy, The Associated Press reports. Smith, who's worked with a dozen college football teams, reportedly lost nearly all of his savings to real estate investments.
Last month, Eastman Kodak revealed its plan to bounce back after bankruptcy by shifting its focus from photography to commercial packaging and printing services. The company had hoped to auction off its 1,100 digital imaging patents.
Unfortunately for Kodak, the bids were far below what the company had hoped. Now Kodak has put the sale on hold and is considering licensing the patents instead, NBC News reports.
Chances are, your favorite rapper has a lot less money than you think. They may be rolling on dubs and popping bottles, but that kind of swag comes at a price. Nas, Swizz Beats, and Roc-A-Fella co-founder Damon Dash are all cash-strapped, according to Refined Hype.
So what causes rappers to go broke? Below, we've included five of the biggest drains on rappers' finances.
