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Do I have to file a joint bankruptcy with my spouse?
It is no secret married couples do a lot of things together, such as raise children and pay taxes. Something else they can do as a unit, but do not have to, is file a…
Exemptions allow debtors to keep assets despite filing bankruptcy
There is no question filing personal bankruptcy is daunting. Understandably, debtors have a multitude of questions, such as how filing might impact their credit score, what happens to the debts included in bankruptcy paperwork and…
What is the role of Bankruptcy Trustee?
A person who files bankruptcy will likely never meet or speak with the countless people involved in their bankruptcy, such as their creditors and, in most cases, the Bankruptcy Judge assigned to their case. However,…
What an automatic stay is and how it can keep debt collectors away
When a debtor files bankruptcy, a “legal shield,” called an automatic stay, goes into effect immediately. It serves to stay, or stop, all collection efforts in effect at the time of the bankruptcy filing. One…
Why hiding assets is a bad idea when filing bankruptcy
You have likely heard the expression that “Honesty is the best policy.” Not only is that true, but telling the truth is absolutely necessary when it comes to filing bankruptcy. Lying in a bankruptcy case…
What to expect when going to court for a Chapter 7 bankruptcy
It is natural for people to worry about what to expect when they go to court for their Chapter 7 bankruptcy’s “341 Meeting,” also known as the “Meeting of Creditors.” Concerns about a creditor or…
My only income is Social Security. Should I still consider bankruptcy?
We often meet with people with debt problems whose only income is Social Security benefits. In some cases, they are “judgment proof”. That is, there is no way for their creditors to collect. Other than…
Five Common Questions People Ask During Bankruptcy
People end up buried in debt for many reasons. Yes, poor money management is the reason for some people’s plights, but debt issues are frequently caused by job losses, illnesses, divorces, or other personal life…
Filing For Chapter 7 Bankruptcy Doesn’t Mean You Have Failed
Chapter 7 bankruptcy is widely-known yet frequently misunderstood. Despite the connotation, bankruptcy is a very common legal avenue that is designed to help people who are under insurmountable debt. Though common, it is still extremely…
Do I have to file a bankruptcy jointly with my spouse?
No, you are not required to file a joint bankruptcy case with your spouse. You can file individually, you each could file separate cases if you wish, or you can file a joint case. This…