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He continued, writing, “You want to avoid bankruptcy if you can, but if you have multiple creditors with judgments against you, your credit’s already shot so there’s not much more damage you ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Bankruptcy prevents a person's creditors from obtaining a judgment against them. With a judgment a creditor can attempt to garnish wages or seize certain types of property. . However, if a debtor has no wages (because they are unemployed or retired) and has no property, they are "judgment proof", meaning a judgment would have no impact on their financial situat
Learn steps to avoiding bankruptcy in retirement — including alternatives and support. If you’re afraid you won’t be able to pay outstanding debts during your golden years, filing for ...
The judge also levied $294,000 in attorney's fees against Save Our Springs, but the directors of SOS filed bankruptcy to avoid paying this judgment. [3] Although the Court of Appeals subsequently determined that SOS did have standing to file the suit, it refused to reverse the trial court's decision on the merits and left the attorney's fees ...
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 ...
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