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Your Credit Union and Your Bankruptcy

Credit unions are allowed special circumstances in regards to a member filing a bankruptcy.  If debt to a credit union is included in a Chapter 7 bankruptcy there is no hope for continuing current or future association with them or any other branch whatsoever.  Eliminating debt during a bankruptcy with a bank does not mean […]

Personal Bankruptcy: How Does it Affect a Trust?

When a trust is thrown into the mix, a personal bankruptcy can take on a whole different appearance. First and foremost, it is essential that you are aware of who is in control of the trust assets. Although you are able to file bankruptcy on your own, having an attorney to walk you through all […]

Filing Bankruptcy Without Involving Your Spouse

In some instances, it makes sense for individuals to file bankruptcy as a couple. In other situations, it makes more sense to have one spouse filing for bankruptcy. Luckily, bankruptcy law allows spouses to file bankruptcy separately, but it’s impossible to keep a spouse completely “out” of the bankruptcy proceedings. When one spouse is filing […]

How Does a Personal Guarantee Affect an LLC Bankruptcy?

At times individuals need to consider what would be best for them: filing for a personal bankruptcy or filing for a bankruptcy through an LLC. In many cases, small business owners will find their personal finances in ruins due to the extensive investment (of both time and money) creating a successful business can require. The […]