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Mistakes Before Filing Bankruptcy

Mistakes Before Filing Bankruptcy

When you are overwhelmed, and in debt, you may have tried other ways to get financial relief before you realized that bankruptcy is your best option. Most people don't realize that there are some things that you should avoid before you file your bankruptcy paperwork...

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Credit Card Debt and Bankruptcy

Credit Card Debt and Bankruptcy

Credit card debt is a significant problem in the United States. Americans owed over a trillion dollars in credit card debt in 2019. The Credit Card Accountability Responsibility and Disclosure Act of 2009 put federal rules and regulations on the use of debit cards....

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Selling Personal Property and Bankruptcy

Selling Personal Property and Bankruptcy

When someone is considering bankruptcy, they may worry they will lose their assets such as vehicles, homes, jewelry, etc. Many times, debtors sell some of their property to pay for their bankruptcy attorney or bankruptcy fees. There are a few guidelines and rules you...

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Retirement Accounts and Bankruptcy

Retirement Accounts and Bankruptcy

In 2005 the bankruptcy abuse prevention and consumer protection act was signed into law, stipulating that many types of retirement plans, including IRAs, are exempt assets in bankruptcy. These accounts cannot be used to satisfy creditors' demands for payment on your...

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Secured Creditors in Bankruptcy

Secured Creditors in Bankruptcy

You may wonder what will happen to your debt during your bankruptcy case. Unsecured debt like credit cards, medical debt, and payday loans will be eliminated, but the secured debt will be handled differently. Secured debt usually includes a home mortgage or vehicle...

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Chapters in bankruptcy

Chapters in bankruptcy

The United States bankruptcy code is divided into chapters, and each chapter represents a section of the code. The different chapters will help various debtors in their unique situations. Some are personal bankruptcies, while others are farmers and business...

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Utility Shut-Offs and Bankruptcy

Utility Shut-Offs and Bankruptcy

If you find yourself struggling with your debt due to a job loss, being underemployed, or illness, you may find that you have fallen behind on your utility bills. If you are worried that your lights or your water are about to be shut off, contact a bankruptcy attorney...

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Bankruptcy's History

Bankruptcy's History

Bankruptcy was considered a creditors remedy in the beginning. The creditors could seize the property of the trader who was behind in payments and have them thrown in jail until his debts were paid. These jails were modeled after the workhouse debtor's prison in...

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Vehicle Repossessions and Bankruptcy

Vehicle Repossessions and Bankruptcy

Having easy access to a vehicle is essential for most of us to get to our jobs, schools, grocery store, etc. Therefore, having a vehicle payment is the most common type of consumer secured debt. Since it is a secured debt, the lender has the right to repossess the...

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Proof of Claims in Bankruptcy

Proof of Claims in Bankruptcy

A proof of claim is a document filed in the bankruptcy court to register a debt for the trustee to pay if funds are available. The creditor will need to list the amount of money owed, to whom, and any priority status if relevant as of the date the bankruptcy was...

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