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What Type of Bankruptcy Should You File?

Before you file for bankruptcy, you’ll likely want to know what type of bankruptcy to file for. The reality is that you have to meet certain requirements in order to file bankruptcy at all, and you may not be eligible for either Chapter 7 or Chapter 13. If you do happen to meet the requirements

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Bankruptcy timeline: Rebuilding credit

by Brigitte Yuille (Originally posted on July 3, 2015 on Bankrate.com) You’ve filed for bankruptcy. Now it’s time to start rebuilding your credit. It will be hard to get credit at the start, but it won’t be impossible. The bankruptcy on your record means you will have to pay more to borrow money, since you’ll

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Impact of New Administration on Bankruptcy Outcomes

In recent months, bankruptcy attorneys and people considering bankruptcy have wondered how the new presidential administration might influence bankruptcy laws and the outcomes of personal bankruptcy petitions. We did, too. To gain perspective, we took a look at America First: A Budget Blueprint to Make America Great Again—produced by President Donald J. Trump’s Office of

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Budgeting Offers Control over Debt

Bankruptcy provides relief to people weighed down by massive debt, however it is not a free pass. During a bankruptcy, debtors may be required to liquidate their assets to repay creditors. Also, they can expect to lose access to existing commercial credit because credit card companies typically close accounts when notified that a bankruptcy is

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Bankruptcies of the Rich and Famous

Even before the advent of the credit card industry, pioneers, patriots and presidents alike found themselves in tough financial straits. According to Roland Gary Jones, Esq., author of Bankruptcies and Money Disasters of the Rich and Famous, Abraham Lincoln went bust running a grocery store before falling back on politics. Even as he ran for

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Interview on Talk Network Radio

I joined Bold Talk Business Radio talk show host Donna Anselmo for a live stream on  TalkNetworkRadio.com Tuesday, February 15. We discussed issues on the minds of people dealing with debt, especially questions relating to bankruptcy.  The interview will stream again today and Friday in the 1 PM EST time slot on TalkNetworkRadio.com, or you

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Protecting Assets Under Bankruptcy

When filing for bankruptcy on behalf of a client, an attorney must consider how to best protect the client’s assets. During bankruptcy proceedings, the court reviews the petitioner’s assets to determine the debtor’s ability to repay creditors. The court then may require sale of the debtor’s property to reimburse creditors and/or cover court costs. The

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High Profile Judgment against Gawker Media Group Illuminates the Bankruptcy Process

When The Wall Street Journal (WSJ) reported that Univision Communications, Inc. won a court-administered auction of assets belonging to Gawker Media Group (08.16.16), I thought this case perfectly illustrated how the Chapter 11 bankruptcy process works. For example … A Single or Series of Disastrous Financial Incidents Disrupts a Company In this case, a court

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High Profile Judgment against Gawker Media Group Illuminates the Bankruptcy Process

When The Wall Street Journal (WSJ) reported (08.16.16) that Univision Communications, Inc. won a court-administered auction of assets belonging to Gawker Media Group , I thought this case perfectly illustrated how the Chapter 11 bankruptcy process works. For example … A Single or Series of Disastrous Financial Incidents Disrupts a Company In this case, a

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Florida’s Homestead Exemption Protects Home Against Creditors

In addition to tax savings on a primary residence, Florida’s homestead exemption can offer protection in times of severe financial distress, such as bankruptcy. Florida homeowners typically apply for a homestead exemption on their primary residence to reduce their tax burden. However, this exemption also can protect one’s home from being forcibly sold by a

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