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Posts Tagged ‘Bankruptcy’

Is Bankruptcy A Way To Pardon Student Loans?

The Condition of “Undue Hardship”

Many people are in debt due to the student loans they took out in order to pay for their college education. With many possible solutions to remove the debt once and for all, however the most favored is bankruptcy. But being students, claiming bankruptcy is defiantly a problem because the legal terms and conditions of the student loan clearly states that the loan is non dischargeable. Due to this very reason, the loan repayment causes the borrower “undue hardship”. This hardship only occurs at time when the person is facing a high degree of financial problems that he or she will not be able to satisfy his or her basic needs once the loan is repaid. In order to claim bankruptcy, the borrower needs to affirm that he or she is facing undue hardship; however hard it may be.

History of Undue Hardship Clause

In the past, students were able to get rid of their student loans. However, lenders criticized the system, which lead to changes in the rules and regulations of the student loan contract. Now it is harder for students to get their loans discharges. Even thought this may seem unfair, the system was criticized because students took advantage of the system as they declared bankruptcy immediately after completing their students before they even got a job. This is why the rules and regulations of the contract had to be changed, as the lenders were losing out.

What the Clause Says About Student Loan Discharge

After the change in rules and regulations of private loans, the government felt it was necessary to apply this clause to government loans as well. This made student loan discharge even more impossible. However, in order to get a student loan discharge, you will need to prove to the government that your living of standard is not high and that you have tries every possible means of paying back the loan. Only then will your loan be pardoned.

The Sign of the Co-Signer

Even when you have met all the terms and conditions in the clause, you will need a co-signer. The co-signer is the person who signed the contract with you when you took out the loan in the first place. That specific co-signer will not be able to take into account his hardship exclusion.

What to Keep In Mind

When you decide to claim bankruptcy, you need to make sure that you have thought about it very clearly. You should only file for bankruptcy if it is necessary and there are no other options available to you. Make sure that when you are going to claim bankruptcy that it will pardon your student loan, otherwise declaring you are bankrupt will do you no good.

If you are in debt and you need to pay your student and other loans but are unable due to a low income job, you will need to visit the court. By visiting the court, you will be able to find ways to declare hardship and have a new start to your life debt free.

Hilary Bowman is the author of this article. She works successfully as a financial advisor with years of expertise on Military Loans for Bad Credit. Hilary publishes informative articles about Bad Credit Loans and other financial topics at FastGuaranteedLoans.com

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

Question by Tipsy Dipsy: What is the official term for a pardon after a death sentence?
I know there’s a an official term, I just can’t remember it. And google’s not much help either. It would be if someone had been put to death by the state, and then pardoned after the government re-investigated and realised they weren’t guilty after all.

And – what would be the point of that?! Why do they do it? Is it for the sake of the victim’s family?

Best answer:

Answer by Tanya D
It could be a stay of execution, which is usually temporary.

There could be a commutation of the death sentence to a term of imprisonment, usually life.

And, there could actually be a full pardon and let the prisoner free.

Often, the stay is because there is a chance that the court will overturn the penalty or even the conviction – so it is to let the courts do their job.

The commutation is to stop the execution – it could be for any of a number of reasons – the Governor of Illinois a few years ago commuted every death sentence in that state to life.

The pardon is when the prisoner didn’t do it, or the trial was so unfair that there is no way the prisoner got a fair trial, or the sentence is ridiculous, or any one of a number of reasons.

Rarely does the victim’s family have much to do with it. These are executive decisions, sometimes political,

Know better? Leave your own answer in the comments!
David Brooks is Mostly Right about Mitt Romney
Pardon me for piling on but I think one element of the Mitt Meltdown has been missed. Brooks is on to something but doesn't understand completely the enormity of what he is saying. The comparison between the two fundraiser recordings — Romney's on the …
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Those Were the Days

Those Were the Days

A year in the making, this album of era-defining songs from the 1960s and 1970s is an astonishing collection of indispensable classics, performed in Dolly Parton’s signature style with a top-notch list of friends.Parton, who produced the album, invited several of the artists who wrote or made these songs famous to sing with her. Renowned musicians Roger McGuinn (of the Byrds), Kris Kristofferson, Judy Collins, and Tommy James make appearances on Those Were the Days. She also asked recent chart-t

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Of Moons, Birds and Monsters – MGMT – Live at Morning Becomes Eclectic Download it at www.mgmt-music.net Why’d you cut holes in the face of the moon base? Don’t you know about the temperature change In the cold black shadow? Are you mad at your walls Or hoping that an unknown force can repair things for you? Pardon all the time that you’ve thrown into your pale grey garden? If the ship will never come you’ve got to move along Even a bird would want a taste of dirt from abyssal dark The prick of a feather could make a kingdom burn and the bloodshed start The falling apart Made me a shadow in the shape of wonder The waves of black If she’s going under I can hold my breath till the sky comes back Or drown like a rat, rat, rat He’s a rat! To catch a monster We make a movie Set the tempo And cut and cut its brains out It will inspire on the burning pyre Half the distance Half the motion Communication It’s easy as the ocean Download the video & song at www.mgmt-music.net
Video Rating: 4 / 5

We Are As a Nation Heading Into Bankruptcy and Financial Disaster – A Medical Disaster Also

pardon letter
by lisby1

The disaster that took place in our financial markets has become a stepping stone for government to step in under the guise of helping, it has been trying to control salaries for top executives all over the business community. I agree that salaries and compensation for top level management have gone beyond reason and that there must be caps and restrictions placed where performance is tied to results. It cannot be sanctioned by today’s marketplace, that a company in failure has to pay exorbitant money to its top people for a job badly done.

Performance must be ahead of enumeration and tied to moving the company forward in value. We cannot keep paying for failure! In today’s business climate, people want more than good intention’s and a big name from the Right background in business to manage a company, for the sake of all its workers and stockholders. The day is gone where a company goes bankrupt but all the top brass goes home with an enormous severance package for failure. The big bucks are for doing a good job with results that warrant payment of large sums. And most, must be tied to stock options as the major part of payment.

Now we have the government stepping in to take over companies, after bailing them out with our taxpayer money. These companies still want to use that money for huge salary packages and not to improve the running of the company. They want to go on the same way they have, which led to the downfall in the first place. What do we have to do, to make these people realize its over. Either shape up or ship out. When will they realize the American people are fed up with incompetent leadership and are demanding action and performance.

Now the government wants to set salaries and compensation levels all across business. And now we all see the health reforms they want are for the benefit of unions and business that do not want to pay for coverage of employees or union members. That is the reason behind all this supposed concern for the American people. The government will take the load from business to cover employees which costs them millions every year and dump it onto the government. Unions do not want to have to lay out medical coverage for its members so it will all fall onto us as taxpayers to pick it up for them.

Did you really think the President was concerned for people? It was part of a supposedly secret campaign promise to unions to get their backing and money. Why should business back our President who has claimed to be against capitalism in its present form. The taxes proposed to pay for this program will be very much higher that stated in proposals. According to CBC figures and others that include all the separate bills under different names submitted to congress, it puts the price somewhere in the range of One point eight trillion dollars.

That starts with a T. He also admits that it will still leave about thirty million people who are still not covered. So: If all this program will do is cover fifteen to twenty million people that, according to his own words, out of the now claimed fifty million without coverage. What is the cost of just covering the difference between fifty million down to thirty or thirty five five million? It is 1.8 trillion It is he proposed new medial plan. I will tell you what I have come to believe. It was a promise made to big business and labor to relieve them of the growing costs of covering their workers. Once the President gets his bill passed; every effort will be to go to the public option, and that means the government will be in full control. He will fight tooth and nail to get it.

All medical procedures will be rationed and strict limits on who receives what. The elderly will suffer most with cuts to medicare for procedures and tests, which is bankrupt and so is medicaid that is being given to most illegal immigrants and almost anyone that applies. Medicaid as it is being administered today is dragging down the whole medical system. People all over this nation are using our hospital emergency rooms as their private doctors offices. Thousands upon thousands go there for colds and minor complaints because it is free to them.

If we placed co,payments on every visit with money collected up front , we would see a dramatic drop. Say if we charged $ 25. for every visit to the hospital E R then we might curb the unnecessary use. Their are still plenty of clinics to care for indigent people and families. The amount will not help the hospitals pay for visits but it would stop people from going there for every little sniffle or headache and minor bump. What we really need is to cut the waste and paperwork that buries every part of the medical field.

I have one suggestion to help the whole industry. As President; President Obama could mandate that all parts of the medical community get together and come up with a three page document that would cover all contingencies and treatment with space for information of every kind. They can attach test results where needed. Every company would have input on what information is needed but it would all have to fit into one three page double sided form. If they are unable to arrive at an agreement, then the government would draw one up for them from efficiency experts, and then they would have to live with it. If everyone wants their own way, then no one will.

If America is to have a chance to come out of the worst economic downturn since the great depression then we must cut back on spending for every department and agency within government. We have many agencies that go back to the beginning of the 1900s and beyond. We must weed out and examine every program within every department to see what can be disposed of as unnecessary or duplication. We must also stop automatic increases for every program. Budget increases must be justified for every department and program. It is time for extreme measures in budget reform and cutting spending for every increase proposed.

If America does not send E-Mails and letters to every representative they can , then nothing will change and we will go on and on to a complete implosion in our monetary system. America will be a second rate power and no other nations will feel safe buying our securities to back our debt, then it will all collapse. I remember during the Clinton years that Republicans had control over both houses and came up with their contract with America, formed to cut waste and spending in government. They forced through budget cuts and spending cuts that eventually got us close to a balanced budget. Of course President Clinton claimed credit for what they did but it was what was needed at that time.

They forced through things that were decried and fought against by President Clinton and yet when he left office we were in fairly good shape financially. The fact that they wrecked the White House and pardoned so many friends and acquaintances of his from indictments, came as no surprise. Politicians do things like that and many Presidents have done the same but maybe not to that extent. Medical care will be rationed and lifesaving measures for the elderly will be cut back and waits for treatment and tests can be stretched out until death ends the wait. Just look to the countries where they have one payer medical coverage and ask the people living under it for their opinions.

Tied to any new measures must be tort reform. The awards handed out by juries in the northeast and other large communities across America has to be realistic and measured to what happened. To award 30 million to a victim or their families might feel good to those in the jury box but it costs us all in the end. I myself had the occasion to have a lawsuit but it was for an automobile accident. It was handled fairly and quickly. The cost of trivial lawsuits for people who want money from business or medical malpractice claims is growing out of control. The lawyers that will sue anyone and everyone for any perceived injury or insult has to be stopped. Any birth defect will have a lawyer wanting to sue somebody charging malpractice. Birth defects have been happening since before the time we had doctors.

Their have to be some standard where we can block frivolous lawsuits by lawyers trying to blackmail doctors into settlements just to get them out of the way. The doctors then need lawyers of their own, and that’s where malpractice insurance companies charge exorbitant fees. It is all paid for by all of us when we go to any doctor that has to pay the insurance premiums to practice. I have seen figures from television news shows that purport, the amount of doctors that will leave their practices is growing close to 40% Doctors are getting away from practicing as an individual and more and more are forming group practices with umbrella coverage for all. Some are even retiring ahead of time just to get out of the rat race.

Things like that happen every day all across America when we have no restrictions at all upon who can sue whom or for what reasons. Somewhere, somehow we have to come up with caps for certain types of medical malpractice suits and justification for a lawsuit has to be on a ” reasonable ” basis. I do not have the answers, but we have a good many great minds out there,across America, and if they can come up with some solutions that make sense, sound reasonable, then upon considered reflection by all parties, they should be adopted. I seem to have gone afield from where I started but it is an enormously complicated subject.

The economy is in a mess and adopting a medical plan that will cost the country over $ 900 billion if not close to 2 trillion to cover less than 20 million people out of 50 million not presently covered is fantastic if not very close to criminal. To use the Presidents own words their are fifty million not presently covered under medical insurance.! The new proposed plan will leave thirty million still not covered under the new policies. What are we spending, even with the Presidents own numbers of $ 900 Billion, to only cover 20 million more than now. Pardon me for not agreeing with the plan.

If anything I have written makes sense to you then I ask only one thing from each and every one of you. Write letters, send E-Mails or telegrams to anyone you can in your local, state or federal government. Let the representatives in your area know how you feel. Keep abreast of things happening as, I am sure, you can spend at least two hours a week on the web looking up what interests you or effects you and your family. If we don’t then who will. It is up to all of us to do whatever we can to inform ourselves and vote in every election and demand from our elected officials that they answer for the way they vote on bills that come before them. We have that right as they are there to represent us.

As I have stated many times before in other forums: All that is needed for evil to triumph is for good men (and women) to do nothing. If we don’t then who will? God Bless America!

Here comes the second letter.. with a sad impact this time on the girl.. forcing her to call it maut da snehaa (message of death) of her love. To me this is the song of the movie in terms of composition and rendering. Pardon audio quality but atleast you are listening to original hard work of Rashid Attre marhoom. Also worth sharing that this film version is EXTENDED version than what we used to listen in audio cassettes n 78rpm record so far. Hope you like it. Regards Dr.Bukhari

Question by trpstar34: How would you address/write a letter to the president of Italy?
I plan on writing a request to the Italian president regarding the pardon of a certain convict in that country, How would I start my paper and where would I send it?

Best answer:

Answer by 2 words
dear ItanianPressie,

What do you think? Answer below!
Oron.com Ordered to Pay Corbin Fisher 0000
Oron.com Ordered to Pay Corbin Fisher $ 550,000. By Rhett Pardon, XBIZ.com. Tue, Aug 07 2012 02:45pm PDT … "Defendant argues that the settlement was not final because the letter sent by plaintiff to [web-hosting company] LeaseWeb states that 'Oron.com …
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Pardon the liberty I now take in addressing you in this manner on a rather delicate subject : the courtship letters of Andrew Murray and Margaret Gordon, 1854.

Pardon the liberty I now take in addressing you in this manner on a rather delicate subject : the courtship letters of Andrew Murray and Margaret Gordon, 1854.

  • 47 pages, illustrated, 9 x 11 inches

The courtship letters of Andrew Keachie Murray and Margaret Martin Gordon during the 1800s.

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Bankruptcy Discharge Spelled Out

Article by Drew Koppa

To be discharged of one’s financial debt is the main reason why anyone would file for bankruptcy, especially in a Chapter 7 bankruptcy. After a discharge, the debtor will cease to be required to pay for the money owed. Virtually all types of debts could be discharged; however, there are certain debts that endure a bankruptcy. Up until the debtor gets a discharge, the automatic stay becomes effective to be able to stop lawsuits and repossession of creditors.

Under Chapter 7 bankruptcy, when an individual files for bankruptcy, his or her properties will be liquidated. It generally suggests that a person is starting over financially, immediately on the date of petition. Virtually all of an individual’s debts that are tied to certain assets at the moment of the petition are placed on hold through an automatic stay up until the discharge. However, the non-exempt properties and assets are going to be sold by a trustee who is appointed by the bankruptcy court to dispose of them and then also make use of the proceeds to pay back debts until it is all gone If the funds have depleted and there are still remaining debts, they will be pardoned through a court’s action.

Under Chapter 13 bankruptcy, it won’t be necessary to liquidate one’s properties and assets to pay back her / his debts. A debtor can also get an opportunity to hinder a foreclosure of his residence. A person in debt needs to repay the money owed through a repayment program which will be accepted by the court. The time period of a repayment plan is three to five years. After the repayment time frame, the person in debt is going to be released from whatever remaining debt. One needs to ensure, however, that he / she has paid the required monthly installments

The automatic stay differs from the debt discharge but it supports the discharge by holding off the properties and assets of a person from being taken back by loan providers beginning on the day of bankruptcy application. The lenders are prevented from doing any measures which are against a person in debt who is under a bankruptcy. A lender is required to get the consent of the court to collect debt repayments to a debtor who is in bankruptcy. However, in an automatic stay, the court is likely going to refuse such request of a lender. The automatic stay will not be altered ahead of a discharge.

Not all sorts of financial obligations are regarded as dischargeable. The most frequent financial obligations which are exempted from discharge are education loan and family support kinds of financial debts. A student loan will carry on after a bankruptcy unless of course paying for it puts a serious strain to an individual or to a debtor’s family members. The bankruptcy law does not also eliminate family obligations even in severe debt troubles mainly because such payments might be needed by the dependents.

An individual whose debts have been discharged is not anymore legally required to repay them and the bankruptcy court can charge a collector for contempt in case she / he still tries to acquire for payments.

Need some more articles from someone that knows San Antonio Bankruptcy. Look no further and visit Ama Guzo’s number one suggested site called San Antonio Attorney










How To Find An Attorney For Your Bankruptcy Problem

Article by Terro White

If you need to find an attorney due to an insolvency problem, you can find a bankruptcy attorney in the yellow pages, through acquaintances and from the internet. If your friends and relatives cannot recommend a good lawyer for your case, you can find one on the internet. There are directories that list all kinds of lawyer that practice bankruptcy law in different states.

Bankruptcy is a serious problem that encompasses several factors from financial to social issues. It can also be confusing to file for bankruptcy on your own because there are many different types of bankruptcy filings. Going for the wrong kind may expose you to more risk and losses. This is why it is important to hire a good bankruptcy lawyer.

Your attorney can help you cut your losses by filing for the appropriate type of bankruptcy chapter. There are mainly 6 types of bankruptcy chapters. These are the Chapters 7, 9, 11, 12, 13, and 15. Some of them are more ideal for personal bankruptcy, while the others are more suitable for business cases. Here is a short preview of each type of bankruptcy chapter.

Chapter 7 is suitable for both personal and business cases. This kind of bankruptcy chapter is very simple and clean cut and you can easily find an attorney who can handle this kind of case. This pardons most of your debts. The down side is it also usually involves losing personal assets like a car or house. Businesses may be closed down.

Chapter 9 is more ideal for businesses but can also be used by wealthy individuals. If used for individuals, you will have to prove that you have sufficient income to repay your debts which will be under the supervision of the courts. Your debts will be restructured in a more affordable repayment scheme.

Chapter 11 is often used for business but can also be filed by wealthy people. Businesses debts will be reorganized to make it possible for a company to repay the debts in light instalments. When filing for this chapter, find a bankruptcy attorney who is experienced in handling bankruptcy business cases.

Chapter 12 is meant for farmers, fishermen and their families. This bankruptcy chapter allows them to rearrange their debts for easier payment. It allows the families of farmers and fishermen to keep their assets. It is more forgiving and lenient than other bankruptcy chapters for individuals or businesses.

Chapter 13 is a bankruptcy chapter that is often used by wealthy people who earn a reliable monthly income. In this kind of bankruptcy, one is allowed to retain most assets. Debts will be paid under the supervision of the court. Oftentimes the debts will also be restructured for easier payments. It is a simple type of filing and you can easily find an attorney that can handle this kind of case.

Chapter 15 is more complicated than the other chapters since it deals with international laws and jurisdiction. Debts will be restructured for repayment. It is usually filed by large corporations that do business in a global scale. For this kind of case, you will need to find a bankruptcy attorney that practices international law and bankruptcy.

Discover where to find an attorney for your insolvency problems. Visit to Local-Attorneys.com to find a bankruptcy attorney who can help you.










Consumer Debt Help – How to Avoid Bankruptcy and Find Proven Debt Relief Tactics

pardon service
by SS&SS

Article by matthiw coach

If you are looking for consumer debt help services to do away with the over bearing credits, try resorting to the World Wide Web, for help. There are a good number of debt help services operating on the web. You just need to locate a legitimate company that has got a good reputation and years of relevant experience behind them to back their services. In this recessionary phase, this seems to be the only industry gaining popularity and pounds at the same time when all others are facing a tough time. However, if you are able to implement some wise relief tactics to ease off the burden of credit from your shoulders, it might put an end to all your fiscal anxieties.

The economic slowdown has toppled the tables in the fiscal market, all around the globe. People are facing pay cuts and pink slips and striving hard to make ends meet. The situation is similar in almost every part of the world including the U.S. Many people are neck deep in card overdue, looking for ways and means to get out of it. In such circumstances, settlement or consolidation seems to be the only viable solution. It is a legitimate way to get rid of financial crisis.

You just need to enter into a mode of negotiation with your creditor and convince him to reduce some portion of the actual amount that is due. The banks and financial institutions are welcoming settlement deals, these days because getting something back than nothing is always better. There are a number of people filing cases of bankruptcy to shove the burden of debt from their shoulders. If the plead gets accepted, their entire debt gets pardoned but it definitely tarnishes their credit history in the market. This means the creditors will not be getting a pie of what they owe. To avoid such circumstances, settlement is what the creditors and debtors are opting for these days.

The percentage of reduction on the amount that is due may vary from one case to another. If the debtor is not conversant with the negotiation tactics, it is better to seek help from consumer debt help services.

It would be wise to utilize a debt relief network if you are considering getting a debt settlement. The top debt relief networks are only affiliated with the best performing settlement companies that are established and proven. LegitimateDebtSettlement.com is one of the largest and most respected debt relief networks on the market. To locate a legitimate debt settlement company in your state check out the following link.Free Debt Advice

About the Author

FreeCreditCardDebtAdvice.org is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.

http://www.FreeCreditCardDebtAdvice.org

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