I agree countries should have some sort of bankruptcy protection. I thought the UN could could invoke the protections of bankruptcy in certain instances?
As to individuals in the U.S. we have two, or three types of bankruptcy protection, and that goes for individuals--not just companies.
I do think we need to keep a close eye on Bankruptcy laws in the United States. I have a feeling if a Rebublican is elected in 2016, federal statutes on bankruptcy laws will be changed, like under the George Bush's rein.
The problems we have with our current bankruptcy statues, right now, is this: The homeowners exemption is too low in most states.(Your primary residence should be exempt from creditors in bankruptcy court--period, especially for unsecured debt! Student loans should be partially dismissable. (I would rather have the government just deny certain collages access to the student loan program, but they aren't moving fast enough.) Those are my biggest gripes with U.S. Bankruptcy laws. If you don't have the money, have nerves of steel, and the ability to internalize Nolo Press's publications on bankruptcy; you can do your own bankruptcy.
Keep in mind you can only do most bankruptcies every 10 years, so use them wisely. I need to do a chapter 7, but am holding off until I start making real money, or a republican is elected in 2016.
(As to credit collectors, keep track of every unauthorized call(keep a diary, or tape the conversations); if you are lucky the weasels will break federal laws, and you might be able to sue? I'm my case, different collection agencies must have called my residence over at least over a 1000 times over the years. I really despise the collection game, along with process servers. These judgements are sold, on most cases for pennies on the dollar. I have thought about buying my own judgement debt. If anyone in the Debt Collection industry reads this--have you heard of anyone successfully buying their own debt? I have found no laws prohibiting it.)
As to individuals in the U.S. we have two, or three types of bankruptcy protection, and that goes for individuals--not just companies.
I do think we need to keep a close eye on Bankruptcy laws in the United States. I have a feeling if a Rebublican is elected in 2016, federal statutes on bankruptcy laws will be changed, like under the George Bush's rein.
The problems we have with our current bankruptcy statues, right now, is this: The homeowners exemption is too low in most states.(Your primary residence should be exempt from creditors in bankruptcy court--period, especially for unsecured debt! Student loans should be partially dismissable. (I would rather have the government just deny certain collages access to the student loan program, but they aren't moving fast enough.) Those are my biggest gripes with U.S. Bankruptcy laws. If you don't have the money, have nerves of steel, and the ability to internalize Nolo Press's publications on bankruptcy; you can do your own bankruptcy.
Keep in mind you can only do most bankruptcies every 10 years, so use them wisely. I need to do a chapter 7, but am holding off until I start making real money, or a republican is elected in 2016.
(As to credit collectors, keep track of every unauthorized call(keep a diary, or tape the conversations); if you are lucky the weasels will break federal laws, and you might be able to sue? I'm my case, different collection agencies must have called my residence over at least over a 1000 times over the years. I really despise the collection game, along with process servers. These judgements are sold, on most cases for pennies on the dollar. I have thought about buying my own judgement debt. If anyone in the Debt Collection industry reads this--have you heard of anyone successfully buying their own debt? I have found no laws prohibiting it.)