What Debts Are Not Discharged in Bankruptcy?

Although bankruptcy is often the best possible option, it isn’t right for everyone. Depending on your situation, this strategy might trigger certain consequences, such as lowering your credit score, forcing you to part with higher-value property, or downsizing your business. Sometimes, it might...

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How Long Can I Keep My Car After Filing Chapter 7?

You might have heard that bankruptcy can wipe out tens of thousands of dollars of debt. You might have also heard that bankruptcy will strip you of everything you own—including the essential property you use every day, such as your car. The first statement is true. Depending on your circumstances...

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Can Bankruptcy Lower My Mortgage Payments?

Did you know that Americans owe more in mortgage debt than any other type of debt? Last year, total U.S. mortgage debt reached a new record of nearly $9.5 trillion. Becoming a homeowner is undoubtedly a part of the American dream, but millions of people struggle to accomplish this goal or maintain...

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Can Bankruptcy Discharge Student Loans?

When you ask an attorney (or the internet) whether bankruptcy can eliminate your student loan debt, the answers may vary. This is because student loan debt is technically dischargeable, but you need to file an adversary proceeding (separate lawsuit) to do it. Very few people attempt this for the...

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No ‘Shame’ in Filing Bankruptcy

We’ve seen it at our firm over and over again: A client comes to us and they feel ashamed about wanting to file bankruptcy. Somehow, they believe there is a stigma about filing bankruptcy and they feel as if despite their best efforts to pay their bills, they’ve let their creditors down. If...

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Do I Give Up Anything if I File a Chapter 7?

If you’ve done any research about Chapter 7 bankruptcy, you may have read about how the bankruptcy trustee gathers the debtor’s non-exempt assets, liquidates them, and uses the proceeds to pay off creditors. “Non-exempt assets” refer to those assets that are not protected under bankruptcy laws;...

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