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What Can I Keep if I File For Chapter 7 Bankruptcy?

Sawin & Shea

In this article, we will walk you through Indiana debt collection laws and some of the many exemptions that help you keep your personal, real, or intangible assets when you file for a Chapter 7 in the State of Indiana. What is Chapter 7 Bankruptcy? The post What Can I Keep if I File For Chapter 7 Bankruptcy?

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Florida Bankruptcy Court Sanctions Debt Buyer for Seeking to Collect Debt that Consumer Failed to Schedule in Bankruptcy Case

Troutman Sanders

As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition. However, testimony later showed that the entity listed as holding the debt, Direct Merchants Bank, was not the actual creditor but rather a registered trademark owned by Metris Companies.

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Everything You Should Know About a Judgment Lien in Indiana

Sawin & Shea

A judgment lien against you can have a variety of distressing and negative consequences. Read on to learn everything you need to know about judgment liens in Indiana, including how they work and how to avoid them. What Is a Judgment Lien? Judgment Liens in the Hoosier State In Indiana, judgment liens last for 10 years.

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Getting Approved for a Loan After Bankruptcy

Sawin & Shea

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. Chapter 7 bankruptcy: In this type of bankruptcy, your non-exempt assets (if any) have been liquidated to pay off a percentage of your debts. This is not true. This is your limit.

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Credit Card Debt Forgiveness: What You Need to Know

Credit Corp

If possible, mail a money order so the creditor can’t access your bank account information. File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts. You pass a means test designed to determine if an individual is abusing the bankruptcy system. Pay the agreed-upon amount.

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Will a Bankruptcy Trustee Contact My Employer?

Sawin & Shea

If a potential employer runs a background check, they’ll discover your bankruptcy. And if they search your credit history, they’ll also likely spot your bankruptcy filing. A Chapter 7 bankruptcy remains on your credit history for ten years, and a Chapter 13 bankruptcy will stay on your credit history for seven years.

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What Not To Do Before Filing Bankruptcy

Sawin & Shea

Do Not: Try to Transfer or Hide Assets If you’ve transferred any assets to another party before declaring bankruptcy, you’re not gaining any protection. If assets are transferred in anticipation of filing for bankruptcy, a trustee can recover those assets in a Chapter 7 bankruptcy since the transfer would rightfully be seen as fraudulent.