Credit Card Bankruptcy

by Michael Malega


Writing this article for you was a pleasure, I desire it be likewise for your to read it.

As people use credit cards to make payments for items that they are buying, sometimes they overuse their credit card. This will not become a problem if the person has a way of paying off their debt. There are instances where credit card bankruptcy will have to be declared.
This bankruptcy claim can be disputed by the name card issuing agency if they feel that you have obtained the credit card by fraudulent means. If the name card company feels that you are Using the card in an outlaw(a) fashion they can refuse to discharge your debt.

When the credit card company challenges this debt it becomes a non-discharge ability action. In the non-discharge ability activity the credit card issuer will declare that you have obtained your credit card by submitting a fraudulent credit card application. They can also hold that you have received a credit card without any intent to pay any off the debts that you are incurring.

There are many reasons why credit card bankruptcy claims will be challenged. These reasons will include an increased use of your credit card before you register for bankruptcy, or if you have just been issued a new credit card after the credit card company approved your application for the card.

Or perhaps large advancements of cash were made just before you filed for credit card bankruptcy. As these reasons can indicate to your creditors that you are not intending to pay off your debts they will be able to prove to the courts that you are planning on defrauding them.

So if you are intending to file for credit card bankruptcy it is best if you don't use your credit cards for at least Six months before you file for credit card bankruptcy. The less use that can be found with your credit cards will validate your claims that you are in fiscal difficulties.

Before you do file for credit card bankruptcy it is best if you talk the situation over with your lawyer. You can inform your attorney about your integral financial problems and see the assorted courses that you have open.

You must realise that once you have filed for credit card bankruptcy your public record will state that you have undergone bankruptcy for bad credit. This substance that you will need to uprise to various businesses that you are conformable to pay the higher credit rates that you can be charged.

While this course of activity may seem difficult to reflect sometimes it is the only way that you can find a Breathing space to reorganize your financial affairs. Once you have proven that you are in financial difficulties your credit card bankruptcy filing will let you negotiate with your lawyer and creditors the best way to pay their loans back.

I'am glad you have found this article I hope you found the data useful.



About the Author
Michael Malega presents several credit card bankruptcy articles for your information. You can visit Michael's web site at: http://www.bankruptcy-chapter-13-facts.com/Credit-Card-Bankruptcy.php

What is Litigation Funding?

By Amanda Bellview

Litigation funding is a concept that most individuals that are involved in a lawsuit will find beneficial to them. It is most commonly used in personal injury cases, but can be used for any type of lawsuit in which the individual is seeking funds in a settlement for their hardships, whatever those may be. It has been used in a variety of cases from sexual harassment to worker's compensation and many more. But, what is litigation funding and how do you know if it will benefit you? Take into consideration the number of things that it can offer to you and what will happen if you decide not to use it.

Funding A Lawsuit Through A Loan

Litigation funding is the process of securing a loan in order to pay for the cost of a lawsuit. It costs a good amount of money to see your lawsuit from start to finish. If you are suffering from medical problems and can not work, you probably need the funds to help you to pay your daily living expenses as well. These costs can be covered by your lawsuit loan, as they are often called. Believe it or not, these funds are available to you through litigation funding lenders, who are offering a wide range of options for those that need them.

Another benefit to litigation funding is the fact that you don't need to pay the funds back that you borrow to make these payments unless you actually win your case. When you do win your case, the settlement that you receive will be lessened the amount that you've borrowed to pay for your needs. But, if you lose the case or do not receive a settlement, then these funds are no longer you obligation to pay and the lender will not be able to recover them. It's completely legal and its part of the process of securing litigation funding in the first place.

Other Options?

Are there are other options to consider to fund the loan that you need to pay for the lawsuit that you know you should be filing? You could use a personal loan, credit cards or your own funds to pay these things. Many people don't have the funds necessary and they may not be able to secure these types of loans because of lack of employment or a back credit history due to the restrictions on their funds. Even if you do have these funds, you'll be risking your own money on these expenses, which means that if you do lose the case, you are out all that you've invested in it. That's an expensive risk for you to take.

Working with a litigation funding firm is a good option for those that know they deserve a fair share of the settlement. If you know this and you want to secure the funds that you need to make sure that your case reaches settlement, you'll want to consider litigation funding. It could mean funding a lawsuit that you deserve to win or giving up on it.

Amanda Bellview writes to expand the question base of attorneys and litigants looking for lawsuit litigation or pre settlement funding.

Article Source: http://EzineArticles.com/?expert=Amanda_Bellview