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Credit Card Debt Laws That You Need to Know
With the struggling economy, many people are finding themselves deep in credit card debt. Therefore, consumers are forced to turn to debt consolidation in order to get control of their finances. However, before a person decides to consolidate their credit card debt, they need to be aware of the credit...
Paying Off Debt With Debt Consolidation
Living with debt is by no means easy. There’s the constant concern of living paycheck to paycheck and the never ending issue of covering monthly bills and living expenses. While most of us pride ourselves on being self-sufficient, it’s hard to ignore that we all sometimes live well beyond our means....


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Qualifying
The Means Test

When Congress passed the now-infamous Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCA) , there were a few primary goals that they aimed to accomplish:

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Purpose Of The New Bankruptcy Laws

When Congress passed the new bankruptcy law in 2005, which was subsequently signed by President Bush, the goal was to deter people from filing bankruptcy. There were a few ways that they aimed to accomplish this goal: 1) encourage more Americans to seek alternatives to bankruptcy to get relief from their debts;

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Bankruptcy Protection Questions

This refers to the provision in bankruptcy law that forces all creditors to cease any and all collection activity upon notification that a debtor has filed bankruptcy. This includes harassing phone calls, lawsuit proceedings, and threatening letters.

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The Consequences & Effects of Claiming Bankruptcy

Most consumers understand that bankruptcy will have a negative effect on one's credit score, but most do not understand the depth of that impact or the other consequences associated with doing so. Filing Chapter 7 Bankruptcy, which is the most popular option for people who do in fact declare, can stay on your credit report for 10 years.

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Featured Articles

Things That Have a Negative Impact on Your Credit Score
Credit is a useful tool and when handled responsibly allows us to obtain credit cards, loans for homes, cars and other big ticket items. The better we handle our credit, the better the terms that are offered to us from lenders including higher credit lines and lower interest rates. If, however, a...
Easy Steps To Get Out Of Debt
The dismal economy is having an adverse effect on people around the globe with millions facing tremendous amounts of debt. For many, escaping their debt seems like a far off dream but it doesn't have to be! By applying a few simple guidelines to your spending habits, you can begin to reduce credit card...