Filing for Bankruptcy
Filing for Bankruptcy
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Thousands of Americans file for bankruptcy, Chapter 7 or Chapter 13, each year but not
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If you file for bankruptcy, you can count on hearing the word “trustee” quite frequently. Both the “bankruptcy trustee” and the “U.S. trustee” will play major roles in your bankruptcy proceedings. But who...
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Different Chapters of Bankruptcy
While the phrase "filing for bankruptcy" is often used as blanket term for individuals and businesses, the fact is that there are several different types of bankruptcy. Before determining that...
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The Bankruptcy Process: I Filed, Now What?
Following the filing of the Chapter 7 petition, debtors must now initiate the 341 Meeting of Creditors. At the meeting, debtors and their bankruptcy attorney must meet with the Trustee...
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What to consider before filing a bankruptcy
There are many things an individual should consider before filing for bankruptcy. One very important concern should be what chapter of bankruptcy is applicable to the case and is it the best option for the individual. Some important things to consider before filing for bankruptcy include: Income in the previous six months to filing Debts that can be discharged versus debt that cannot be discharged What transactions are risky to the judgment of a bankruptcy filing Know what assets are exempt
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Your Credit and Future after Bankruptcy
When deciding whether filing for bankruptcy is the right thing to do, foremost in the debtor’s mind is usually what life will be like after the bankruptcy proceeding is complete. While most debtors realize...
