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After that, the remaining loan balance is forgiven. “Going this route can help you eventually get free of your debt, but it will take a long time to get there,” says debt attorney Leslie Tayne ...
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 ...
Before you file for bankruptcy, consider other alternatives. 1. Debt payoff strategies. Depending on your debt, a do-it-yourself approach might work just fine.
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 future. To avoid the negative impacts of personal bankruptcy, individuals in debt have a number of bankruptcy alternatives.
Alternatives to bankruptcy include debt consolidation loans, debt settlement or debt relief, or trying to pay it back on your own. If you have a smaller debt (like a few thousand dollars), you may ...
a current pending debtor's bankruptcy petition in relation to the debtor but the debtor has not been referred to the DRO procedure by the court as a more suitable method of debt relief; a current pending creditor's bankruptcy petition against the debtor but the debtor has not obtained the creditor's permission for entry into the DRO process.
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