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Upsolve was inspired by the Financial Distress Research Project, launched by Professors Jim Greiner (Harvard Law School), Dalié Jiménez (University of California, Irvine School of Law), and Lois Lupica (University of Maine Law School) to study the effectiveness of self-help material in assisting low-income Americans through their legal problems.
A Chapter 7 bankruptcy (or BK, as we call it) would eliminate most or all of their debts and they would get a clean slate. No litigation client ever wrote me a thank-you note, but plenty of my ...
The Employee Retirement Income Security Act (ERISA) keeps your money safe from creditors and bankruptcy court, as long as you have a qualified account. Qualified plans include pensions ...
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. In most cases personal bankruptcy is initiated by the bankrupt individual. Bankruptcy is a legal process that discharges most debts, but has the disadvantage of making it more difficult for an individual to borrow in the ...
However, many bankruptcy attorneys advise against filing for bankruptcy if you have less than $10,000 in dischargeable debt because the legal fees and filing costs could outweigh any potential ...
Key takeaways. Chapter 7 and Chapter 13 bankruptcy are common options for individuals with unmanageable debt. Bankruptcy should only be considered as a last resort after credit counseling.
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