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Declaring bankruptcy isn't your only option. Read on to explore a few other choices that may provide better outcomes for your financial situation. Before You File for Bankruptcy, Consider These 3 ...
Bankruptcy can sometimes be the solution to your debt problems, especially when you have one that’s more than six figures. However, depending on your situation, you may not just be able to make ...
Consider credit counseling first, and if you do decide to move forward with bankruptcy, it may be worthwhile to hire an attorney. They will be able to walk you through the process and ensure ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
In Canada, bankruptcy always means liquidation. There is no way for a company to emerge from bankruptcy after restructuring, as is the case in the United States with a Chapter 11 bankruptcy filing. Canada does, however, have laws that allow for businesses to restructure and emerge later with a smaller debt load and a more positive financial future.
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.
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