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What Is the Automatic Stay in Bankruptcy?

Nerd Wallet

The moment a consumer files for bankruptcy, such as Chapter 7 or Chapter 13, an automatic stay typically takes effect immediately. The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate.

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Why sudden job losses put people at risk of bankruptcy

Roths Child Law

Especially when someone has a relatively successful career, the sudden loss of their job could put them at elevated risk of personal bankruptcy. Why do some people end up filing for bankruptcy after losing their jobs?

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Discharge in Bankruptcy – Bankruptcy Basics

Sawin & Shea

What is Bankruptcy? Bankruptcy is an opportunity for someone to forge their way through what seems like an impossible debt-ridden situation and come out the other side. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. Which Debts Cannot be Discharged in Bankruptcy?

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Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

If you’re struggling with overwhelming debts, Chapter 7 bankruptcy could be your best option. Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. What is Chapter 7 Bankruptcy?

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Mistakes to avoid when filing for personal bankruptcy

Roths Child Law

If these options are not possible, you may consider filing for bankruptcy. No matter how you handle it, bankruptcy can have a lasting impact on your life. If you handle it right, bankruptcy can give you the relief you need to get back on your feet financially. And if you mismanage it, bankruptcy can compound your financial woes.

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10 Common Questions About Bankruptcy

Debt Free Colorado

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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How Long Does Foreclosure Take?

Credit Corp

Foreclosure means that your mortgage lender can legally repossess your house due to nonpayment. If the property sells for less than the balance owed on the original loan, a lender could file a deficiency judgment against you in court. Not all states allow deficiency judgments in all circumstances. File for bankruptcy.