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As opposed to the liquidation of Chapter 7 individual bankruptcy, Chapter 13 is a process of reorganization. Student loans, like other types of debts, are not discharged in a Chapter 13 bankruptcy case. Rather, they are restructured as part of your repayment plan if the court determines that they are eligible.

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Technically, bankruptcy laws allow you to file as frequently as you wish, but you will only receive a discharge if enough time has lapsed since your previous discharge. Therefore, it’s important to be aware of the limitations so you do not waste money and time filing for bankruptcy when you are ineligible for a discharge.

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There is no requirement that you be a U.S. citizen, or even have a green card—anyone who is living in America legally can file for bankruptcy in this country. In addition, there are no laws that indicate filing for bankruptcy will prevent the United States Citizenship and Immigration Services (USCIS) from approving your green card, visa or application for citizenship.

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Individuals who are considering bankruptcy are often concerned about the effect it will have on their employment. For example, will your employer find out you filed for bankruptcy? Could you be fired because of it, or be denied a job during the application phase because of a bankruptcy filing?

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As you consider filing for Chapter 7 or Chapter 13 bankruptcy, you may be understandably concerned about the effect it will have on your credit score. The damage done to your score will depend most heavily on how good your credit was from the start.

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Your ability to keep your car when filing for bankruptcy depends on several factors, including the type of bankruptcy you are filing, the status of your car payments and the equity status of your vehicle.

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If you are facing a potential foreclosure of your home, bankruptcy can help you bring the process to a halt, at least temporarily. This depends on the form of bankruptcy under which you file. The foreclosure process typically begins when you fall behind on your mortgage payments.

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