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What does the bankruptcy trustee do with funds in an asset case?

Some cases result in the surrender or liquidation of non-exempt assets. There are known as asset cases. In an asset case, the trustee sends notice to creditors advising them that they must file a claim by a certain deadline. In...

Will I lose my home if I file bankruptcy?

What happens to your home when you file bankruptcy depends on how much equity you have in the home and which chapter of bankruptcy you file. In a chapter 7 bankruptcy, your home is at risk of being liquidated if...

Which Chapter of Bankruptcy Is Right For Me?

If you are considering filing for bankruptcy, then you may be aware that there are a few different types from which to choose. What you might not know is that, depending on your financial situation, you might not qualify for...

Navigating Bankruptcy: Smart Approaches To Managing Loans And Debts

Consumer debt is at an all-time high. According to Experian, U.S. consumer debt grew by 6%, from $800 billion to $14.88 trillion in 2020, the highest annual growth recorded in over a decade. Experiencing being in debt is nothing to...

Colorado First to Prohibit Medical Debt Credit Reporting

Medical debt credit reporting legislation signed into law in Colorado CO becomes the first state to prohibit medical debt information from being included on consumer credit reports and factored into credit scores, except under very narrow circumstances. The legislation is set...

Assets you may lose in a chapter 7 bankruptcy

You will retain most assets  Most cases are no asset cases meaning the trustee did not collect any money or liquidate any assets of the debtor. Although most debtors have some non-exempt assets, the value is often too low for...

Choosing a bankruptcy lawyer

Bankruptcy is the legal process of discharging your debts (chapter 7) or reorganizing your finances (chapter 13). When done correctly, it can help you shed debt and achieve a fresh start. But bankruptcy is not something that you should go...

How Does Bankruptcy Affect Credit?

How Does Bankruptcy Affect My Credit? Your credit rating is one of the factors lenders use to determine if you are a good risk. A good credit rating can be the difference between being approved or rejected for a home...

The Truth About Debt Relief Services

Over the last few years, debt relief services have promoted themselves as a lifeline to those experiencing financial hardships. These companies use a variety of methods to negotiate, settle, and in some instances, eliminate debt. But debt relief companies are...

Bankruptcy and Student Loans

There are many advantages of pursuing a college degree. The job opportunities a college education can provide are limitless. Still, with the cost of attending college continually on the rise, you may be forced to take out large loans in...
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