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Will the Bankruptcy Court Take My Children’s Property?
The bankruptcy law requires the debtor to list all of his or her assets in paperwork filed with the court. The court requires the debtor to file a standardized form called “Schedule B” which lists all...
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Will I Lose My Tax Refund by Filing Chapter 7 Bankruptcy?
April 15 is quickly approaching and many Americans are filing their income tax returns. A common question at this time of year is, “Will I lose my income tax refund if I file Chapter 7 bankruptcy?”...
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Can An Illegal Immigrant File Bankruptcy?
There is no requirement of citizenship in the Bankruptcy Code. Section 109(a) of the Bankruptcy Code states that “…only a person that resides or has a domicile, a place of business, or property in the...
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How Long Will Bankruptcy Stay On My Credit Report?
When a bankruptcy case is filed, information about the case is reported on the individual’s credit file. The report lists the date filed, the type of bankruptcy case (i.e. chapter 7, 11, 12 or 13), the...
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I Have My Bankruptcy Discharge. Now What?
You should obtain a copy of your credit report immediately after receiving your bankruptcy discharge. Federal law entitles you to one free credit report from the “big three” credit reporting agencies,...
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Who Will Know About My Bankruptcy?
One of the most common questions asked about the bankruptcy process is, “Who will know about my bankruptcy case?” Filing bankruptcy is usually very confidential, but the Bankruptcy Code and Federal...
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How Often Can I File Bankruptcy?
The federal bankruptcy laws do not limit the number of times an individual can file for bankruptcy protection. When an individual is facing overwhelming debt and needs relief from creditors, the...
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Is Debtors’ Prison Making a Comeback?
In the early days of this country it was common for debtors to be imprisoned until their debt was paid. Popular history records that the last debtors’ prison was closed in the 19th century and the...
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Do I Have To List It In My Bankruptcy?
A common question from clients preparing to file bankruptcy is, “Do I have to list it?” “It” can be an item of property, a financial obligation, a source of income, or even a reoccurring bill. The...
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Can I Keep My Vehicle During Chapter 7 Bankruptcy?
One of the most serious questions a client may ask is, “If I file Chapter 7 bankruptcy, can I keep my vehicle?” Like many simple, straight-forward legal questions, there are no simple, straight-forward...
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Chapter 7 Bankruptcy Timeline
The most common type of bankruptcy case is the Chapter 7 no asset case. In this case the debtor does not lose any property and unsecured creditors (e.g. credit card companies and medical bills) receive...
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