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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]
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 ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
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...
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.
The bankruptcy followed his divorce and a court order requiring him to pay his ex-wife $600,000 of alimony. [65] [63] He filed for bankruptcy for his company Right-On Production at the same time. [64] Vince McMahon: American wrestling promoter Filed in a U.S. bankruptcy court. [66] 1976 [66] [67] They owed a total of $955,805 to 26 distinct ...
When you file for Chapter 7 or Chapter 13 bankruptcy, you will need to attend credit counseling. Your credit counselor will go over your options and help create a plan. Your credit counselor will ...
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