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The party filing for the divorce must prove that the other party has done something to justify ending the union. [8] Different states have different requirements for obtaining a fault divorce but in each state the spouse filing for the divorce is required to establish a reason for the divorce and provide evidence of the other party’s guilt. [8]
Spousal support is likewise not covered by a bankruptcy filing, nor are property settlements through divorce. Despite their potential non-dischargeability, all debts must be listed on bankruptcy schedules. A Chapter 7 bankruptcy stays on an individual's credit report for ten years from the date of filing the Chapter 7 petition.
Personal bankruptcy is a legal process that allows people to discharge unpayable debts by liquidating assets to pay their creditors or by entering into a court-approved plan to repay them. Tips: 7...
Bankruptcy was a dream practice because usually I was able to solve their financial woes, and I had plenty of clients -- almost half a million people filed last year. A Chapter 7 bankruptcy (or BK ...
The introduction of no-fault divorce led to a rise in divorce rates in the United States during the 1970s. [16] The National Center for Health Statistics reported that from 1975 to 1988 in the US, in families with children present, wives filed for divorce in approximately two-thirds of cases. In 1975, 71.4% of the cases were filed by women, and ...
When filing for bankruptcy, the goal is to eliminate as much debt as possible and get a fresh financial start. As part of this process, several types of debts will be discharged immediately or at ...
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