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Category Archives: Bankruptcy

Are Judgments Discharged in Bankruptcy?

People who file for bankruptcy are often perplexed about debts that are associated with a judgment. Can a debt on which there is a judgment or lien receive a bankruptcy discharge?

The first step in answering the question is pinpointing the type of debt is in question. Determining which debts are dischargeable depends on the kind of debt and how the debt was incurred. …

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Are You Eligible for Chapter 13 Bankruptcy?

To file for Chapter 13 bankruptcy, petitioners must meet the requirements. Chapter 13 bankruptcy allows debtors to keep their property and repay creditors using a three- or five-year court-approved repayment plan. According to the requirements of Chapter 13 under the bankruptcy code, debtors hoping to file for Chapter 13 bankruptcy must meet specific criteria. 

To File for Chapter 13 Bankruptcy, You Must:

  • Not Be
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More Seniors are Turning to Bankruptcy for Debt Relief

When we’re young, we think of retirement as a time to relax, kick our feet up and enjoy the rewards of life or hard work. Sadly, there is a growing trend of retired seniors forced to deal with increased living expenses and decreased income spending retirement by turning to the protections of bankruptcy.

Why Are More Seniors Turning to Bankruptcy?

Seniors are More Leveraged:

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Purchasing a Home After Bankruptcy

After you file for bankruptcy, you receive a fresh financial start, but the new beginning doesn’t come without any consequences. Bankruptcy does hurt the filer’s credit report that will stick around for years after the date of the discharge of debt. Depending on the type of bankruptcy you file, the bankruptcy can stay on your credit report for up to ten years. But you don’t …

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5 Tips for Recovering After Bankruptcy

Did you recently file for bankruptcy? Are you worried about your credit? Many bankruptcy filers are surprised by how quickly they can get started repairing their credit after bankruptcy. Rebuilding your credit after bankruptcy is not easy, but it can be done.

Tips for Recovering After Bankruptcy:

  1. Use Credit. This seems counterintuitive. You just filed bankruptcy and discharged your debt. Many instinctively want
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Can Bankruptcy Help When You’re Buried in Student Loans?

Federal student loans have been exempt from bankruptcy discharge since 1978. A change in the law in 2005 gave private student loans the same protection. The “protection” that student loans are offered in this legislation means that student loan debt will often survive bankruptcy proceedings while other types of debt do not. However, some school loans are partially dischargeable in bankruptcy, but if not, the …

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What to Know When Filing for Bankruptcy

You may have decided that you need to file for bankruptcy, but that doesn’t mean that it isn’t scary. If you find yourself fearing the process, remember that bankruptcy laws are there to protect you. You have options even in the midst of impossible financial trouble. Once you’ve decided to file bankruptcy, the process is fairly straight forward.

What Type of Bankruptcy? Once you decide …

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Is Your Lender Threatening to Foreclose on Your Home?

Is your lender threatening to foreclose on your home? You aren’t the only one in this difficult situation. Foreclosure rates across the nation are high and they have been high for some time. Yet homeowners who are facing foreclosure often feel like they have no viable options to stop the process. However, this isn’t necessarily true. There are a number of foreclosure defense strategies …

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How to Qualify for Chapter 7 Bankruptcy

Chapter 7 bankruptcy offers relief from debt by discharging or wiping out most types of unsecured debt. This allows debtors to have a fresh financial start. In order to prevent consumers from abusing the system, Congress put eligibility requirements in place.

Prior Bankruptcies: If you filed Chapter 7 bankruptcy previously and received a discharge of debt, you are required to wait eight years from the …

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When Does Student Loan Debt End Up in Litigation?

When it comes to federal student loan collection, lawsuits are not very common. But they aren’t unheard of either. Why is it less common for the government to sue in order to collect on student loans? Most would agree that it’s because they have a lot of other tools in their debt collecting arsenal. But that doesn’t mean that lawsuits aren’t a tool they …

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