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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…
Tips for Rebuilding Your Credit After Bankruptcy
How do you begin to rebuild your credit following a bankruptcy? A common misconception about bankruptcy is that it will forever ruin your credit. Many people fear that they will never again be able to…
Top Reasons People Go Bankrupt
It’s easy to assume that someone who files for bankruptcy protection has been financially irresponsible, but according to a recent post in the Huffington Post, some of the most common reasons people file for bankruptcy…
Mediterranean Mayhem: Understanding The Greek Debt Crisis
International finance may be Greek to you, but national bankruptcies are surprisingly similar to personal ones. To understand the current financial crisis in Greece, it helps to think of the Greek nation as an individual…
Read This: Bankruptcy Glossary
Even the most responsible borrowers can’t always repay their debts, so if you plan to start a business or obtain a mortgage, make sure to have an exit strategy. Bankruptcy can provide a way out…
Stay Calm During Bankruptcy with These Tips
Bankruptcy can be an incredibly stressful experience. Here are a few proven ways to reduce your stress, stay calm and complete the bankruptcy proceedings successfully – and maybe even with a smile on your face….