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How Much Debt is Needed to File for Bankruptcy?

Sawin & Shea

Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts.

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People in debt could get two month ‘breathing space’

UK debt collections

People who are in debt from credit cards, loans and other personal debt sources could be given ‘breathing space’ under new temporary measures the government has announced. Any debts accrued during the ‘breathing space’ will not be covered to prevent issues such as misuse. Debts from fraud.

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Can I File Bankruptcy on Just My Credit Cards?

Sawin & Shea

Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. However, secured debt means the borrower has put up collateral (e.g. Creditors cannot reclaim any of your property if you default on a loan. Do I Need a Lawyer to File for Bankruptcy?

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What Is A Debt Relief Order?

Hudson Weir

If you’re struggling with personal debt, you may be searching online for ‘debt relief order UK’ looking for a solution to your troubles. Well, first of all, it’s important to note that in order to apply, you must have lived in England or Wales in the last three years, as stipulated by the government.

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What is the Bankruptcy Means Test?

Sawin & Shea

Example income includes things like: Salaried, hourly, and overtime income Spousal income (in a joint household or if not legally separated) 1099 independent contractor income Indiana government income Child support and alimony Net business income Unemployment or workers’ compensation benefits Expenses can include things like: Income taxes Child care (..)

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

Titan Consulting

When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? Slash spending : The widely available payment relief, government stimulus checks, and bonus unemployment payments are temporary measures to help you endure the current economic crisis.

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Will Bankruptcy Erase ALL of My Debt?

Sawin & Shea

A Chapter 13 Plan can help get you back on track with secured debts that you are behind on, like house or car payments. Certain Tax Debts. Taxes that you owe to the federal or state government are sometimes dischargeable, and sometimes not. Student Loans.