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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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Getting Back on Track After Bankruptcy

Getting Back on Track After Bankruptcy

When your bankruptcy is completed, and all of your qualifying debt is eliminated, you may start to think of how to obtain good credit again. While you were going through the bankruptcy process you had to attend credit counseling. The purpose was to teach you how to...

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What is Discharged in a Chapter 7 Bankruptcy

What is Discharged in a Chapter 7 Bankruptcy

Chapter 7 bankruptcy is an effective form of personal bankruptcy because in as little as five to six months you can have your qualifying debt eliminated. Qualifying debt usually includes unsecured debts such as credit cards, medical bills, payday loans, and utility...

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Who Can File Chapter 7 Bankruptcy

Who Can File Chapter 7 Bankruptcy

When you are behind in debt and worry every day whether you can pay your bills or not, you may want to consider filing bankruptcy. Chapter 7 bankruptcy cases are usually the shortest form of personal bankruptcy. You can file Chapter 7 if you live in, have property, or...

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Bankruptcy Trustee

Bankruptcy Trustee

When you file bankruptcy, the court will appoint a trustee to your case. The trustee is there to protect the interests of the creditors. Within a few weeks of submitting your bankruptcy paperwork to the court, the trustee will send you and your creditor's notice of...

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