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Whatever the reason for their debts, filing for bankruptcy is often the best way to get a financial fresh start. Generally, individuals will either file a Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy eliminates unsecured debts, but to qualify, you must have little or no disposable income.

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When people with low incomes cannot pay their debts, they get frequent calls and letters from bill collectors and are under constant stress from financial uncertainty. Chapter 7 bankruptcy provides people with debts they cannot pay a way to start over financially.

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United States Trustees oversee bankruptcies in the federal bankruptcy courts. These trustees are appointed by the U.S. Attorney General. The duties of United States Trustees include the following...

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Bankruptcy law is often misunderstood. Many people who could benefit from filing for bankruptcy do not file because they do not know the truth about bankruptcy. Here are some myths and the true story about bankruptcy.

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It might start with one missed payment, but before you know it, you can wind up in a position that it seems impossible to ever climb out of debt. As your debt increases, so does your stress. Bill collectors call constantly. Credit cards are rejected at the store.

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Chapter 7 bankruptcy stays on your credit report for 10 years, while Chapter 13 stays on for 7 years. Unfortunately, a low credit score can even raise your auto insurance rates in many states. It may seem like an uphill battle after you emerge from bankruptcy, but your credit score can improve substantially in just a few years.

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When secured creditors repossess collateral, often a vehicle, it is possible to have it returned by filing for bankruptcy. The debtor must immediately file a bankruptcy petition and motion for turnover against the creditor that repossessed the property. The entity in possession of the property should be not...

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When choosing an attorney, look for one who has extensive experience in successfully helping clients avoid bankruptcy. An attorney can help you better negotiate with creditors and create a more manageable repayment plan. A knowledgeable bankruptcy lawyer can also help you understand your rights as a consumer...

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