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Bankruptcy filings have increased more than 12% in the past year. If you feel like you're drowning in debt and don't know a way out, bankruptcy is one option. But how do you know if you...
Key takeaways. There is no minimum amount of debt required to file for bankruptcy. Because of legal fees and long-term financial consequences, it may not be worth filing with less than $10,000 in ...
Given the complexities of bankruptcy laws, it's crucial to consult with a bankruptcy attorney. They can help you understand whether you qualify for Chapter 7 or if Chapter 13 is more appropriate ...
How does bankruptcy affect your credit? Both Chapter 7 and Chapter 13 will bring your credit score down significantly. If you start out with a credit score of 700 or higher, point losses of 200 or ...
Debt restructurings are typically handled by professional insolvency and restructuring practitioners, and are usually less expensive and a preferable alternative to bankruptcy. Debt restructuring is a process that allows a private or public company - or a sovereign entity - facing cash flow problems and financial distress, to reduce and ...
A Chapter 7 is generally best for those with minimal disposable income, few assets and a significant amount of dischargeable debt. Chapter 13 bankruptcy (debt restructuring): A Chapter 13 ...
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