Tag Archive for: chapter 7 bankruptcy

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Florida lawyers’ concerns based on a 70% increase in Chapter 11 filings over last year. 

Florida – February 28, 2023 Florida lawyers are paying attention to the national bankruptcy trends, specifically the 70% increase in Chapter 11 filings over the last year even as the state has not experienced this high rate overall.  The…
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These Are the Top Reasons Why People File For Bankruptcy

Margaret, AL–A financial downfall can be caused by a number of different things–a severe illness, a divorce, or even a loss of income. These unfortunate events are known to be costly and interfere with a person’s ability to reach financial…
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What Types of Debt Can Be Discharged in Chapter 7 Bankruptcy?

St. Clair County, AL–If you’re looking to wipe away some or all of your debt, Chapter 7 bankruptcy is a good way to do this. When filing for Chapter 7 bankruptcy, you will be expected to use some of the assets you have to repay your creditors…
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What Happens to My Bank Accounts When I File For Chapter 7 Bankruptcy?

Pell City, AL–If you’re planning on filing for Chapter 7 bankruptcy in Alabama, some or all of the money in your bank accounts will be exempt from liquidation. However, any amount over the limit you’re entitled to keep will be taken by…
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What does it mean when someone files for straight bankruptcy in Alabama?

Steele, AL—When a person files for “straight bankruptcy” in Alabama, they are filing for Chapter 7 bankruptcy. Straight bankruptcy is another way to refer to Chapter 7 bankruptcy and is one of the more common types of bankruptcy individuals…
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What happens to credit card debt after a person files for bankruptcy in Tulsa, Oklahoma?

When an individual decides to file for bankruptcy and goes through the entire process, some or all of their credit card debt could be wiped away. The chances of having credit card debt wiped away depends on the type of bankruptcy a person chooses…
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Initial Steps to Take if You’re Considering Filing for Bankruptcy in Tulsa, OK

For some, bankruptcy wipes away most, if not of all of their debt, providing them with a clean slate to work with. For others, bankruptcy allows for reorganization so that an individual and/or business is able to get a better handle on their…
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Can I have my federal student loans discharged if I declare bankruptcy in Tulsa, Oklahoma?

When a person files for bankruptcy, certain debts are discharged, meaning the individual is no longer obligated to pay them. Once a debt is discharged, the creditor who the money was initially owed to is prohibited from taking any sort of action,…
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Could a Second Wave of COVID-19 Cause More Businesses to File for Bankruptcy?

Industry experts are saying it’s likely.   The COVID-19 pandemic has pushed thousands of businesses past the point of no return. While some businesses shuttered and never reopened after government-ordered shutdowns were lifted,…