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Archive for December 2015

Exceptions to the Automatic Stay

Automatic stay bankruptcy option

There are so many new terms for you to learn if you want to understand the in’s and out’s of bankruptcy. So what’s the “automatic stay?” This means that creditors have to stop trying to collect the debts that you owe as soon as you file bankruptcy. However, there are some special exceptions to this…

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Qualifying for Chapter 13

Chapter 13 Bankruptcy

Qualifying for Chapter 13 Understanding your options when filing bankruptcy is extremely important. As you may or may not know, there is Chapter 7 and Chapter 13. Chapter 13 offers advantages over chapter 7. In this blog, we are going to focus on Chapter 13 and how you qualify. You can file a Chapter 13 case if you meet the following requirements: The number…

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Your Business Debts Can Become Your Debts

business debts and bankruptcy

Why Creditor Challenges Occur After You Close Your Business In the case of a business closing due to bankruptcy, the sum of debt owed is usually more substantial than when an average person files bankruptcy. Therefore, challenging is much more attractive to the creditor. Usually, with business, the debtor-creditor relationships are more intimate. When the company fails,…

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Why would you do a short sale of your home?

Short Sale Home foreclosure

Why Would You Choose to Short Sale Your Home? 1. Can’t Afford Your Home If your income has decreased or your mortgage payments have increased and you, therefore, can’t keep making your payments, you may want to downsize. You most likely want to rent. If your home is worth less than your mortgage balances, you…

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