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  2. How to avoid bankruptcy in retirement — and safeguard your ...

    www.aol.com/finance/avoid-bankruptcy-in...

    Chapter 7 bankruptcy. The most common type of bankruptcy, a chapter 7 filing involves liquidating — or selling — your assets to pay off your creditors and debts. Chapter 13 bankruptcy.

  3. Chapter 13, Title 11, United States Code - Wikipedia

    en.wikipedia.org/wiki/Chapter_13,_Title_11...

    The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...

  4. Exempt property - Wikipedia

    en.wikipedia.org/wiki/Exempt_property

    Exempt property calculations and provisions are determined on a state-by-state basis. This is important within the bankruptcy process, and may affect an individual's decision to file Chapter 7 or Chapter 13 bankruptcy. State exemptions vary from strict to generous.

  5. Chapter 13 bankruptcy: What you need to know - AOL

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    Chapter 13 bankruptcy: The basics. Chapter 13 bankruptcy lets you reorganize and repay your debts over three to five years. You make monthly payments to a trustee through a court-approved ...

  6. What happens to my car when I file for bankruptcy? - AOL

    www.aol.com/finance/happens-car-file-bankruptcy...

    The federal bankruptcy exemption limit is $4,450 until 2025, but it can vary by state. Chapter 13 bankruptcy does not put your vehicle at risk, and you will continue to make payments under a ...

  7. Bankruptcy in the United States - Wikipedia

    en.wikipedia.org/wiki/Bankruptcy_in_the_United...

    Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...

  8. Senior Savings: When Retirees Should Consider Bankruptcy - AOL

    www.aol.com/senior-savings-retirees-consider...

    Retirement in the United States is not cheap. Even in comparatively inexpensive states like Mississippi, Oklahoma and Arkansas, you'll need to save up nearly $700,000 to retire comfortably ...

  9. Bankruptcy Abuse Prevention and Consumer Protection Act

    en.wikipedia.org/wiki/Bankruptcy_Abuse...

    Prior to the BAPCPA Amendments, debtors of all incomes could file for bankruptcy under Chapter 7. BAPCPA restricted the number of debtors that could declare Chapter 7 bankruptcy. The act sets out a method to calculate a debtor's income, and compares this amount to the median income of the debtor's state.

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