Sun.Aug 23, 2020

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

Titan Consulting

Key Takeaways. Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. You must qualify to file for bankruptcy, and your income must meet an income means test. Each state has a different income level for qualification.

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Busting Tennessee bankruptcy myths

Roths Child Law

At any given moment your personal economic status may rise and fall in time with the global, national, state and local economies. There is nothing any one person can do about an economic downturn, and that may make seeking a bankruptcy unavoidable. Most feel hesitant to file for bankruptcy because they’ve heard many negative things about it. Most bankruptcy myths cause people to face their debts on their own, without pursuing options to retain control of their financial futures.