Book description
A practical guide to getting out of debt and understanding the option of personal bankruptcy
The current credit and financial crises have prompted Joan Feeney, a preeminent Massachusetts Bankruptcy Judge, and Theodore Connolly, a Finance and Bankruptcy Attorney, to write a book that will help people handle their financial troubles. The Road Out of Debt seeks to assist those considering bankruptcy by demystifying the bankruptcy process and explaining what you can expect to gain (or lose) from it.
With the insights of both a bankruptcy judge and a bankruptcy lawyer, you'll be able to determine when it's best to avoid bankruptcy, when you should seek bankruptcy protection, and, most importantly, how best to work through the bankruptcy process, if you so choose. With millions of Americans personally facing dire financial situations, job losses, home foreclosures, and other major financial challenges, no book could be more timely.
An exceptional resource for anyone contemplating bankruptcy or otherwise trying to figure out how to handle their debt
Puts the bankruptcy process in perspective and reveals specific steps to follow
Discusses how to decide whether or not bankruptcy is the right path for you
Written by a well-respected bankruptcy judge and bankruptcy attorney
As more people find themselves entering financial difficulties, an increasing number of them will need information to help them through these problems. The Road Out of Debt provides you with the serious solutions needed to overcome a personal financial crisis.
Table of contents
- Copyright
- Acknowledgments
- Preface
- Introduction
-
I. A ROAD MAP TO DEBT RELIEF
- 1. Getting Started
-
2. Negotiating Your Way Out of Debt
- 2.1. Learn from Donald Trump
-
2.2. 20 Keys to Successful Negotiations
- 2.2.1. Key #1: Get Prepared: The More You Know, the Better
- 2.2.2. Key #2: Be on Guard When Dealing with Creditors
- 2.2.3. Key #3: Remember That No Two Creditors Are the Same
- 2.2.4. Key #4: Communicate
- 2.2.5. Key #5: Make Collectors Stop Calling and Writing
- 2.2.6. Key #6: Make Offers to Your Creditors
- 2.2.7. Key #7: Remain in Control
- 2.2.8. Key #8: Be Patient and Persistent
- 2.2.9. Key #9: Have No Fear
- 2.2.10. Key #10: Threaten to File for Bankruptcy
- 2.2.11. Key #11: Call Once, Then Use Certified Mail
- 2.2.12. Key #12: Get It in Writing
- 2.2.13. Key #13: Only Agree to Terms You Can Afford
- 2.2.14. Key #14: Never Agree to Pay a Debt You Don't Owe
- 2.2.15. Key #15: Use Time to Your Advantage
- 2.2.16. Key #16: Uncover Your Creditor's Bottom Line
- 2.2.17. Key #17: Don't Let Legal Jargon Trip You Up
- 2.2.18. Key #18: Be Honest in Your Dealings
- 2.2.19. Key #19: Never Assume Another Person's Debt
- 2.2.20. Key #20: Use Honey, Not Vinegar
- 3. Fighting Back
- 4. Budgeting Your Way Out of Debt
- 5. The Danger of Quick Fixes
- 6. Debt Counselors: How to Tell the Bad from the Good
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II. FINDING YOUR WAY USING NONBANKRUPTCY SOLUTIONS
- 7. The Way Out of Credit Card, Medical, and Student Loan Debt
- 8. Foreclosure Basics and Rescue Scams
- 9. Sizing Up Your Mortgage Debt
- 10. The Way Out of Mortgage Debt
- 11. The Way Out of Auto Debt
- 12. The Way Out of Tax Debt
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III. WHEN TO TAKE THE BANKRUPTCY ROUTE
- 13. Is Bankruptcy Right for You?
-
14. 21 Bankruptcy Myths
- 14.1. Myth #1: Bankruptcy Is Expensive
- 14.2. Myth #2: Saying "I Declare Bankruptcy" in a Public Place Is the Same as Filing for Bankruptcy
- 14.3. Myth #3: Proceedings Can Last for Years
- 14.4. Myth #4: You Can File Only Once
- 14.5. Myth #5: Another Person Will Make All of Your Financial Decisions
- 14.6. Myth #6: It's the Most Trying and Heart-Wrenching Experience
- 14.7. Myth #7: You're a Failure and a Bad Person
- 14.8. Myth #8: Bankruptcy Hurts America
- 14.9. Myth #9: Avoid Bankruptcy at All Costs
- 14.10. Myth #10: Your Spouse Must Also File for Bankruptcy
- 14.11. Myth #11: It Often Causes Family Strife and Divorce
- 14.12. Myth #12: Everyone Will Know
- 14.13. Myth #13: You Could Lose Your Job
- 14.14. Myth #14: You Must Report Your Bankruptcy on Job Applications
- 14.15. Myth #15: You'll Lose Everything ... So Say Good-bye to Your House and Car
- 14.16. Myth #16: Only U.S. Citizens Can File for Bankruptcy
- 14.17. Myth #17: You'll Never Be Able to Buy a House or a Car
- 14.18. Myth #18: You Won't Be Able to Get a Credit Card
- 14.19. Myth #19: Your Interest Rates Will Always Be High after Bankruptcy
- 14.20. Myth #20: Creditors Will Harass You Even after You File for Bankruptcy
- 14.21. Myth #21: It Doesn't Affect Your Medical Debts
- 14.22. Finding a Fresh Start
- 15. Overview of Bankruptcy Types
- 16. Understanding the Bankruptcy Process
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IV. ROAD TRIPS: SIX CASE STUDIES IN BANKRUPTCY
- 17. Two Trips through Chapter 7 Bankruptcy
- 18. Two Trips through Chapter 13 Bankruptcy
- 19. A Trip through Chapter 11 Bankruptcy
- 20. A Trip through Chapter 12 Bankruptcy
- Conclusion: The Road Worth Taking
- A. Helpful Resources
- B. Bankruptcy FAQs
-
Notes
- B.1. Introduction
- B.2. CHAPTER 3: Fighting Back
- B.3. Chapter 4: Budgeting Your Way Out of Debt
- B.4. CHAPTER 5: The Danger of Quick Fixes
- B.5. CHAPTER 6: Debt Counselors: How to Tell the Badfrom the Good
- B.6. CHAPTER 11: The Way Out of Auto Debt
- B.7. CHAPTER 12: The Way Out of Tax Debt
- B.8. CHAPTER 14: 21 Bankruptcy Myths
- B.9. CHAPTER 16: Understanding the Bankruptcy Process
- Glossary
- C. About the Authors
Product information
- Title: The Road Out of Debt: Bankruptcy and Other Solutions to Your Financial Problems
- Author(s):
- Release date: August 2010
- Publisher(s): Wiley
- ISBN: 9780470498866
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