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Bankruptcy assists individuals and businesses to discharge burdensome debt; in most cases consumers can keep homes and property.
Overview Bankruptcy is a legal process that allows individuals and companies the opportunity to eliminate accumulated debts. This process also helps to stop creditor harassment. Causes of Bankruptcy Bankruptcy can occur for a variety of reasons. Here are the top reasons for filing bankruptcy according to those statistics: Salary reduction Medical bills Student loan debt Job loss Utility bills Divorce Credit card and personal loan debt Foreclosure Expenses for un
Overview Filing for bankruptcy can sometimes help a business stay afloat. In certain cases, filing for bankruptcy can sometimes help a business not only survive, but thrive. If you are looking to file for business bankruptcy, the type of bankruptcy you choose will largely depend on the type of business you own, the configuration of the business, the assets involved, and the amount of revenue available for a payment plan. Factors to Consider Before Filing Is a business bankruptcy right for y
Overview Like in business bankruptcy, individuals are able to file bankruptcy if they are unable to handle their financial burdens, in order to have their debts cancelled, paid through liquidation of their assets or reorganized into an affordable repayment plan. Some debts cannot be eliminated, such as secured debts, alimony, taxes, child support, and sometimes student loans. Bankruptcy can be used to help you from being foreclosed on your home or to save your valuable personal assets. Chapter
Overview In the last decade, the average student loan debt of the college attendee has creeped its way to amounts upwards of $35,000, with total outstanding federal student loan debt doubling from $516 billion to $1.2 trillion between 2010 and 2015. Are there ways to eliminate student debt obligations? The answer can vary greatly. The most effective student loan relief options, and the protections of a borrower’s rights, are available in a relatively straightforward, navigable spectrum.
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