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When you file for Chapter 7 or Chapter 13 bankruptcy, you will need to attend credit counseling. Your credit counselor will go over your options and help create a plan. Your credit counselor will ...
Image source: Getty Images. I used to be a bankruptcy lawyer, and I was often asked whether someone should file for bankruptcy. And even today, when people struggle to manage their budgets, it's a ...
This is because filing for bankruptcy costs money, and if you have a smaller debt, it may not be worth the effort and fees. Most bankruptcy lawyers won’t take on your case unless you have at ...
In Canada, a person can file a consumer proposal as an alternative to bankruptcy. A consumer proposal is a negotiated settlement between a debtor and their creditors. A typical proposal would involve a debtor making monthly payments for a maximum of five years, with the funds distributed to their creditors.
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Bankruptcy. It's a word that evokes dread in many Americans. Why? Because it may feel like the end of the road, the last resort, the end, in a way, of the game of debt. See the List ...
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