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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score. Chapter 7 liquidates assets and discharges qualified debts.

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You’re in Debt: 9 Terms to Know

The Kaplan Group

If you have always prided yourself on being debt free, or good with money, you might be tempted to simply pull the covers of your head and ignore your current situation. Instead, I suggest you do what you can to educate yourself about your options. FDCPA ( Fair Debt Collection Practices Act). Debt Settlement Services.

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Need to Know About Debt Negotiation and Settlement?

Sawin & Shea

Chapter 13 Bankruptcy: Chapter 13 bankruptcy is a reorganization of debts for debtors with regular income. There are limitations as to the amount of debt you can have, and it is limited to individuals and sole proprietors. You get to keep your property but pay back a portion of your debts.

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Chapter 7 Bankruptcy Timeline

Debt Free Colorado

Meet with an attorney to discuss your financial circumstances and options including debt settlement, repayment plans, Ch. Take your Debtor Education Course – Within 45 days of the 341 Meeting. Before your debts can be discharged, the court requires that you take a financial management course. 13 bankruptcy.

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How to File for Bankruptcy

Better Credit Blog

If a person or a business can no longer meet their outstanding debts, they can begin the legal proceeding known as bankruptcy. When this happens, the debtor files a petition to a federal bankruptcy court in which their assets are measured and evaluated. Educate you on bankruptcy law and procedures. About Bankruptcy.