Anyone considering a bankruptcy filing will undoubtedly have plenty of questions about its benefits and drawbacks, whether it is the right choice, and the difference between Chapter 7 and Chapter 13. Below you will find answers to some of the most commonly asked bankruptcy questions.
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The word bankruptcy can strike financial fear into a lot of people. It comes with a good bit of stigma, and most of us would prefer to avoid it. But the truth is hundreds of thousands of people in the United States file for bankruptcy protection every year. For many, debt relief under court protection [.]
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So I spent the last 30 minutes speaking with a bankruptcy. to me. I didn’t have a choice. I would never, ever do this to myself." So that’s a big problem. Even though the internet appears to be a.
Overloaded with debt? A bankruptcy law attorney can help you decide if filing Chapter 7 or 13 is the right choice for you. Call today and find a lawyer near you.
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How do I know if bankruptcy is the right choice for me? Making the decision to file a bankruptcy case is not easy. It is important to look at all of your options, and understand both the benefits and negative effects of filing.
In several situations, Chapter 7 bankruptcy may not be the right choice. You previously received a bankruptcy discharge You cannot file for Chapter 7 bankruptcy if you obtained a discharge of your debts under Chapter 7 or Chapter 13 in a case begun within the past six years.
Generally, a Chapter 7 bankruptcy is best if you are on a limited budget, have few valuable assets, don’t own a large amount of equity in any property, and are looking for a fresh start to eliminate unsecured debts like credit card debt, medical bills, broken leases, deficiency balances, or other unsecured loans.
So let me get you business preppers started. In short, if a customer is overdue paying you and then finally pays you right before filing for bankruptcy, the bankruptcy court can “claw back” the.