Chapter 12: The Newest Bankruptcy Law

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In 1986, Congress enacted Chapter 12 of the Bankruptcy Code. Chapter 12 bankruptcies are exclusively for family farmers and fishermen to restructure their finances and avoid liquidation or foreclosure. Originally, Chapter 12 was passed to address the financial difficulties that farmers encountered in the 1980s. Congress made Chapter 12 permanent in 2005. Chapter 12 bankruptcies […]

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Eight Warning Signs That Show You May Be Headed Toward Filing for Bankruptcy

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Do you know the warning signs of bankruptcy? It is common for many of us to get off track with our finances at least once in our lives. Many of us have good intentions to stick to our budgets, but an unexpected illness or car payment can appear, and money becomes a little tighter. Perhaps […]

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A Quick Guide to Chapter 7 Bankruptcy

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Are you considering filing for bankruptcy? A Chapter 7 bankruptcy can result in you discharging all of your debt. How Does It Work? When you file for Chapter 7 bankruptcy, a vast majority of your unsecured debts, including credit card debt, medical bills, and personal loans, are discharged or forgiven. You will be required to […]

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Five Big Bankruptcy Myths You Need to Stop Believing

It is time to examine a few bankruptcy myths. For many, filing for bankruptcy can be a difficult, confusing ordeal. It can be easy to get caught up in the process of filing for bankruptcy. This is why having an experienced bankruptcy attorney on your side is essential. There are several common myths about filing […]

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Chapter 13 Bankruptcy: A Wage Earner’s Plan – What You Need to Know

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When individuals need to file for bankruptcy, they typically will file under Chapter 13. This type of bankruptcy helps individuals with regular income to create a plan to repay all or parts of their debts to their creditors. Repayment will take place between 3 to 5 years, depending on the debtor’s monthly income. While under […]

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Five Easy Ways You Can Begin Building Credit Today

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Building your credit for the first time can be a tricky task. If you don’t have a credit history, it can be difficult to acquire a loan, a credit card, or even an apartment. But how can you do that when no one will give you credit in the first place? This catch-22 can be […]

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Five Famous People Who Filed for Bankruptcy and Thrived After the Fact

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If you are thinking of filing for bankruptcy, you might be worried about the steps you need to take to file or what your life might look like after bankruptcy. You can rest easy knowing that many people have recovered from bankruptcy, including a number of successful people. Here are five famous people who filed […]

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Four Things You Should Know About Creditors When You File for Bankruptcy

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When you file for bankruptcy, it’s essential to know what you may encounter throughout the process. This includes what rights your creditors have and how they may exercise them. Here are four things you should know about creditors when you prepare to file for bankruptcy: They’re Entitled to Three Big Things During the bankruptcy process, […]

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Four Important Things You Need to Know About Chapter 11 Bankruptcy

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Whether you’re a business owner or an ordinary individual, filing for bankruptcy can be a stressful experience. Most cases are filed as Chapter 7, Chapter 11, or Chapter 13 cases. In this blog, we will discuss Chapter 11 bankruptcy filings. Here are some important features of a Chapter 11 bankruptcy: It Can Help You Restructure […]

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Life After Bankruptcy: Let Go of Guilt and Look Forward to a Better Future

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In our last blog, we showed you how you can create a realistic budget and stick to it. In this blog we explore the issue of guilt. One of the biggest questions that people have after undergoing bankruptcy is, “What will my life look like now?” In most cases, our clients feel relief. Many of […]

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