Can I file for bankruptcy every few years?
No. Once a discharge is granted, a debtor who filed under Chapter 7 or 11 is prohibited from filing for another 6 years. However, a debtor who filed under Chapter 7 can file a chapter 13 before …
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What is a Chapter 7 bankruptcy?
Chapter 7 is the liquidation chapter of the Bankruptcy Code. Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, …
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Will Filing for Bankruptcy Get Rid of All My Debts?
Many people think that if they simply file Chapter 7 bankruptcy, then they will get rid of all of their debts. Unfortunately, this is not the case. There are some types of debts that cannot be discharged in bankruptcy by law. This means that even if you complete bankruptcy proceedings, you still have to pay back these debts. These debts include child support, alimony, …
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Chapter 7 Bankruptcy for Individuals
Sometimes debt can become overwhelming. It may happen for unexpected personal reasons or because expected revenue has stopped and it may leave individuals financially overwhelmed and lacking the ability to repay all of their outstanding obligations. Individuals may decide that it is time to file for bankruptcy in order to get a fresh start. In order to get that fresh start …
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