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Thinking About Filing for Bankruptcy: The People Who Could File

There are three types of bankruptcy: Chapter 7, Chapter 11 and Chapter 13. If one doesn’t suit the situation, another is probably a good option. Many individuals and businesses interested in filing contact an expert in bankruptcy requesting a black and white answer to the common question, “Should I file or not?” The difficulty with …

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Thinking About Filing Bankruptcy: The People Who Should File

Layoffs, pay cuts, foreclosures…there are so many reasons for the drastic increase in debt burdened Americans who are toying with the idea of filing bankruptcy. Some are filing personally and some are filing for their business. In the fiscal year ending September 30th, 2008, the number of filings reached 1 million. This was a 30%+ …

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How Does Chapter 7 Affect an Irrevocable Trust to a Minor?

Individuals in financial trouble can file Chapter 7 bankruptcy in order to wipe their debt slate clean. It provides a fresh financial start. Filing for Chapter 7 means surrendering control of your assets. Assets are managed by the bankruptcy trustee assigned to your case and may be liquidated or sold in order to provide payment …

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Maxing Out Your Credit Before You File Bankruptcy

There are certain times during which individuals or families might see a major influx of credit card spending: wedding preparations, moving from one home to another, vacations, the holidays, the start of a new school year, etc. It’s understandable and there are a million different reasons why: you don’t have the cash, but you have …

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An Overview of California Personal Bankruptcy Options: Chapter 7 and Chapter 13

If you find yourself in an impossible financial situation, you are not alone. Hundreds of thousands of Americans find themselves in the same situation every year. Those hundreds of thousands turned to bankruptcy for a clear-cut solution. Many others are still out there, struggling to make ends meet or failing to make ends meet. The …

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5 Questions to Ask When Trying to Decide if You Should Declare Bankruptcy

When trying to decide if you should declare bankruptcy there are 5 questions you should ask yourself. Knowing your answers to these questions will enable you to feel comfortable and confident in your choice. This is extremely important because of the fact that deciding how to resolve your financial crisis is a choice that will affect you …

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