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Resist the Temptation to Use Your Retirement Accounts to Avoid Bankruptcy

It is generally a bad idea to use retirement accounts to avoid bankruptcy.

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The Basics of The Bankruptcy Discharge

Understanding how the bankruptcy discharge works is important in determining whether it is right for you.

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Mortgage and Credit Card Debt Increasingly a Problem for Retirees

According to a recent survey, more older Americans are in financial danger than ever. The survey, recently from the Federal Reserve, found that older individuals are increasingly carrying credit card and mortgage debt into retirement.

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A Chapter 13 Bankruptcy Can Help Save a Home

Deciding to file for bankruptcy is a difficult and challenging decision. There are numerous advantages to filing for a Chapter 13 bankruptcy

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IRA Pledged as Security for Future Debt Exempt from Bankruptcy Creditors

In the case of In re Daley, the Sixth Circuit Court of Appeals reversed the decisions of the bankruptcy court and the district court and held that the debtor’s IRA was still entitled to an exemption from creditors in bankruptcy proceedings

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What Happens in Discharge Under Chapter 7?

“Discharge” in the bankruptcy sense refers to clearing the debtor’s slate of all, or most, past debts. Although many people expect that filing for bankruptcy will wipe out all of their debts that is not always the case.

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What Is Exempt and Nonexempt Property Under Chapter 7?

In a Chapter 7 liquidation case, the debtor must relinquish certain property to the bankruptcy trustee so that he or she can sell the property and use the proceeds to pay off debts.

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What Is Commercial Bankruptcy?

Like a consumer, a business sometimes finds itself in the uncomfortable position of being unable to pay its debts.

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What Is Chapter 13?

Bankruptcy law provides two basic forms of relief: (1) liquidation and (2) rehabilitation or reorganization. Most bankruptcies filed in the United States involve liquidation, which is governed by Chapter 7 of the Bankruptcy Code.

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What Happens in A Chapter 13 Bankruptcy Proceeding?

A Chapter 13 proceeding, often called a wage-earner plan, is initiated by filing a petition in federal bankruptcy court. Along with the petition the debtor files various schedules detailing assets

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