7/12/2009

What is bankruptcy?

Sometimes, it is a simple fact that we fall on hard times. No one wants to have bills that they cannot pay, and things that they cannot do. Because sometimes people tend to get in over their heads and have too much to do when it comes to paying things, and because sometimes people reach certain point where they are unable to get themselves out of debt, and unable to figure out a way to pay the things that they owe, there is a financial state called bankruptcy that can be declared.

There are two main purposes of declaring bankruptcy. The first purpose is to give someone in debt a chance to start over again, by relieving them of most of their debts. The second purpose is to allow the creditors to be able to get their money in whatever way that they can.

The idea of bankruptcy basically allows people who have run into more debt than they can pay off a way to get back to their lives and to get out of the hole that they have created. It also protects the people that are owed money, by giving them means to get that money.

When you declare bankruptcy, you are allowing yourself the option to repay the debts that you have through any means that you have, or any assets that you might have. Basically, this means that whatever you have can be used to pay back your debts, and then you are going to no longer have those debts, so you can start over. It is really the best way for both parties to be able to get what they need.

However, even though bankruptcy allows you to be able to pay back your debts, and allows the people who you owe money to get that money, there are going to be consequences. Even though you are going to be paying back what you owe, this means that you are going to have little money at all, you are going to have to start from scratch. This means that you will have to rebuild your credit from scratch and you might not be eligible for any loans for quite sometime. Keep these things in mind however, because even though it’s important to get out of debt, you are still going to have consequences to your credit and to your life. Bankruptcy can make it hard to get a mortgage, buy a car, qualify for student loans, and many other things, so before you declare, consider your options carefully.
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What Bankruptcy Cannot Do

Bankruptcy is a way for you to officially and publicly declare your inability to deal with the creditors who have lent you money in the past. Bankruptcy is a great option when nothing else works, including debt consolidation and other financial techniques. However, it is always important to remember that bankruptcy is not the easy way out. In fact, bankruptcy is not a good choice for most people. Many are confused with how bankruptcy works, and if you do not fully understand it, you should talk to a financial professional so that you can learn what bankruptcy can and cannot do.

For starters, bankruptcy cannot save your property if you have used it for collateral. For example, if you have a mortgage, you have promised your lender that if you do not pay back the loan, you will leave your home and it can be sold by the lender. If you can declare bankruptcy, that doesn’t change. The same goes if you used a car, engagement ring, or other asset as collateral. What bankruptcy does do is stop the lender from pursuing more money after they have collected the property in question.

Bankruptcy can get rid of curtain debts, but one thing that it cannot get rid of is child support payments or alimony obligations. Children will belong to you forever. No financial institution can rid you of this responsibility, because your financial obligation to them is for their benefit. Alimony payments are the same way—they survive bankruptcy. If you file chapter 14 bankruptcy, you will have to include child support and alimony repayment in full. Anything less is illegal.

Other types of debts that survive bankruptcy are student loans and tax debts in most circumstances. It depends on your specific financial situation and the efforts you’ve made in the past to repay those debts. The court will decide what you will and will not have to repay in these cases. There are other debts that call in this category, including fines and penalties given for criminal offenses, traffic ticket bills, debt for personal injury due to intoxicated driving, and debts that you forgot to include on your bankruptcy list.

Bankruptcy is not easy and it is a not a way to give up your responsibilities. You may be able to cancel some of your debts this way, but not all of them. You also will have to deal with bankruptcy well into the future. Before you declare bankruptcy, you should learn what bankruptcy can and cannot do so that you are well prepared.
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The Truth Will Set You Free

If you are having money problems, one option that you have for repaying your debts is to declare bankruptcy. Bankruptcy is not always the best option; in fact, it should only be used as a last resort. It is, however, a good option for some people. If you do declare bankruptcy, it is very important for you to tell the truth completely. There is no need to rush the system. Take all the time you need to make sure that your information is fully complete and accurate. If you don’t tell the truth, it will come back to hurt you later in life, no matter how careful you may be.

Of course, mistakes happen. If you forget to list something when declaring bankruptcy or otherwise misrepresent yourself and it was an honest mistake, the court will probably ask you to make the correction and warn you to be more careful. However, if you make too many mistakes, it will be evident to the court that you were careless when filling our your paperwork. If you are careless, the court could dismiss your case entirely, even if you weren’t attempting to defraud your lenders by declaring bankruptcy when you didn’t have to just to avoid debt.

Remember that bankruptcy doesn’t allow you to play favorites. If you owe money to a relative’s business or happen to be friends with the owner, you still have to list the business when you declare bankruptcy. The purpose of bankruptcy is to make sure that all of your lenders get an equal share of the money and assets you do have. The court will discover that you have debts with these people, and your case may be dismissed or you may come under full review. In that case, other things you have left out when declaring will also come to light.

You must also remember to list any money that you do not yet have in your physical possession but that will be yours in the near future. For example, if a relative has recently died and left your money or property, but the will has not been executed yet, you will still have to list this asset.

Trying to hide assets is also illegal. If you own property, like land or jewelry, don’t try to put it in relatives’ names or otherwise quickly dispose of it. This offense could wind you up in jail and you’ll have huge fines to pay on top of the debt you already owe! Instead, simply be honest from the beginning. If you don’t know what your specific obligations are, talk to a lawyer or financial professional.
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The Importance of Setting Goals

Most people find that financial troubles happen occasionally. This is especially true if you are young and just starting out in the world. One of the options you have for getting out of debt is bankruptcy. However, this is not the best option, nor should it be done by the majority of people. Bankruptcy is the legal declaration that you cannot pay back your debts and do not see a way to do so in the future, at least not in fully. Individuals can declare chapter 7 or chapter 13 bankruptcies depending on how much debt has been acquired and how much money is made every month. An important part of this financial process is setting goals. By setting goals you can both stay out of debt and reduce the risk of having to declare bankruptcy and rebuild your credit after you’ve already declared bankruptcy. Your guidance counselor in junior high wasn’t kidding—if you set goals and reach for them, you can live a happy and successful life.

You should begin setting goals as soon as you are responsible enough to start making your own financial decisions. For most people, this occurs around the time of high school graduation. Set aside a savings account into which you can deposit money but from which you will not withdraw money unless you have an emergency (and beer money is not an emergency!). Make this your first goal. Depending on how much you work, set a number you’d like to save in a year’s time. Try to exceed that number if you can.

Take that goal setting with you as you been to accumulate debts. It’s a good idea to have at least one credit card, but a financial goal that makes a lot of sense is to pay off this credit card in full every month. This will help you begin to build credit without putting you deeply into debt. If you find yourself overwhelmed with bills every month, set goals as to how to save money by reducing spending. All of this will help you to manage your debt and you hopefully won’t have to declare bankruptcy.

If you have declared bankruptcy in the past, however, it is important to help yourself set new goals to once again begin building a good credit history. You should do this by working to pay the debts you have that were not dissolved due to the bankruptcy. If you fall behind on those payments, work with your lenders to negotiate a better deal. You can also slowly begin saving money again, using the technique you used before bankruptcy. When you set goals, you show others that you are trying to improve your financial situation and that you can be responsible with money.
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History of Bankruptcy

The first bankruptcy laws in the United States were made because of negative economic conditions. They began in 1800 and were repealed in 1803. The modern bankruptcy laws first came into view in 1898, when the Bankruptcy Act gave companies that were in distress a way of paying back their creditors and being protected from losing everything at once.

From World War II through the 1970s, the idea of bankruptcy did not make major headlines. There weren’t very many businesses that failed. Even through the 1970s, there were really only two major companies that ended up filing for bankruptcy.

In 1978, there was an act passed called the Bankruptcy Reform Act. It took effect October 1st, 1979. This completely revamped the practices regarding bankruptcy. Chapter 11 was created, which is meant to reorganize businesses and get everyone back to working order after bankruptcy.

Also, during the 1980s, there were many changes that were made to the different bankruptcy chapters and acts. These covered tax related issues, and rules to protect companies from losing everything as a result of bankruptcy depending on their states at the time of filing and their abilities to pay back the debts on their own.

During the 1980s and early in the 1990s, there were a record number of bankruptcies of all different types. This could be attributed to the fact that the process was made much more simple, and that the benefits were starting to really look good to the people who were filing. The changes in the filing systems, and the large numbers of bankruptcies led to changes that had to be made in the court systems so that everything could be handled. This made the process much easier overall, and allowed for more people to be able to be protected through filing for bankruptcy.

Now, bankruptcies are even easier to file because there are pre arranged and prepackaged bankruptcies, and forms that are created with everyone in mind. This way, the courts can handle all of the bankruptcy proceedings, and everything is able to move much more smoothly.

Even though bankruptcy is now easier than ever to file, you should always keep in mind that this is something that is going to have a major impact on your credit. You should not file for bankruptcy unless you feel that it is your last chance and unless you feel that you have no other option. Otherwise you might find that it is something that is harder on your credit than you could have ever imagined.
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6/24/2009

What Makes Dating and a Kiss Extra Special in Chicago?

Romance… The history of mankind could not deny that it is something irresistible. Yes, even a heart of callous allowed it to prick him once in his life or more. And, it all starts with a really romantic date. And, where could be that spot of the world is?
Chicago is a spot where lovers could feel free and show to the oblate-spherical world the rush of love they share. What about kissing while in this land of romance? A kiss says it all, right? So, to all lovers, drop those hesitations down. Visit Chicago hold your partner’s waist or chin and seal the day with the most unforgettable kiss. But wait, for a kiss to be worth-cherishing, a warm-gravitating-serene venue would set the mood for loving.
Explore the beauty of the aquatic life outside the ocean; visit the world’s largest aquarium, the Chicago Oceanarium. Show the bookworm in you; grab and read a book at the world’s largest public library, the Harold Washington Library Center. Let go of that wild appetite; fill up your plate with mouth-watering food during the world’s largest food festival; the Taste of Chicago food fest. Express your love for the performing arts; go to the world’s largest stand-alone theater, the Uptown Theater. All of these enigmatic wonders will surely trap your breath and get you addicted with the fine, warm and romantic place in one of the states of America, Chicago.
A candlelit dinner while your theme song is being played from a flamenco guitar is simply irresistible. You can have the kiss of your life at Geja’s Café. It is located at 340 W Avenue, Chicago IL.
Are you fond of stealing kisses? Vivo is the place for both of you. Find your way to 838 W Randolph St, Chicago IL and see for your self what a private table and a converted elevator shaft change the way you see your partner now.
Do you want to show off your alluring spouse to the eyes of many? Is kissing in a public place the best for you? Buckingham fountain must be your place for that hot kiss. It is not only one of Chicago’s known landmarks but in its midst lies a gravity that pulls lovers to make picture-perfect kisses. It is at Grant Park, Chicago, IL.
Are you fixated with your childhood? If you want to bring out the kids in both of you, why not share a kiss while you feel the air on a Ferris wheel? The city skyline is the best backdrop. Pull her hands and look for Navy Pier Ferris wheel. It is located at 600 E. Grand Avenue, Chicago IL.
Most of us are afraid of the dark. However, this principle vanishes into thin air if you spend the beauty of the darkness with the one you adore the most, right? Imagine glass doors and behind it in the Asian art section, a meditative gallery is just too dark. Imagining it sends one to orbit, how much more if you are right there? The Art Institute of Chicago awaits you. Go take a cab to 111 S. Michigan Ave., Chicago, IL.
Do your hormones go untamable when you get tipsy? Drop lust, welcome passion as the low-lit jazzy atmosphere of Pops for champagne at 2934 N. Sheffield Ave., Chicago, IL will naturally end your night with a lip-lock.
It is undeniable that a kiss itself sounds special but if you consider going to these places with your sweetheart, you will unravel the truth that it tastes even better!
What are you waiting for?
Go to Chicago. Have the date of your life. Kiss… Fall in love…
All over again…
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Some tips to carry when Online Dating

Man will never be an island.

Yes, as long as we breathe, we live as social creatures. We have this innate longing for companion- for someone to talk to, to listen, to comfort. Even the person who people think to be cold has another individual by his or her side. When one feels alone, it is like all the ghosts of life haunt him or her. All the emptiness tend to grow when one has nobody to call his or hers.

Many resort to Online Dating. The web offers numerous websites where you could meet, make friends, and, have relationship with persons who are registered in these websites. You just do not know what story of friendship or love awaits you. When you are single, with that it means you may be someone really single, divorced, widow, widower- online dating is there. Just like any kind of dating, one needs to equip his or her self with the different tips needed to make the most out of it.

There are these traditional dating strategies that work out and will always work out:

For women, it is not commendable to so assertive and goes after the men they want or like. Waiting for that man and being discreet is a better way. As to men, playing as if the “timid” one who is just too shy when it comes to meeting and interacting with the opposite sex is not good at all. Let go of the confidence and look for that girl you want.

Talking about sexual topics when you do not know your date yet that well is not good at all. Verbal foreplay will just let the two of you focus on this aspect, get carried away and forget about the more important sides of the newly-found bond. This must be avoided another thing is not to have a sexual relationship before being committed. This would also be the one that will destroy the one which was established.

Stay true and be yourself as you are on the process of online dating. This will enable both of you to know each other really well and know if you are compatible with each other. The more you pretend, the more the relationship will grow weak in the future.

If you are afraid of getting hurt again, never test your partner if he or she has the capacity to do it to you too. This is very unhealthy for the relationship. Moreover, do not expect a lot and be disappointed easily. Every person is unique so do not let the other person be who you want her or him to be.

The best tip is this: to enjoy every moment and to get to know and eventually grow in love without the pressure of making everything the way you only want it to be.
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