Bankruptcy and Divorce

Bankruptcy and Divorce

Is it better to file for bankruptcy before or after divorce? If a couple is considering divorce, it is generally better to file for bankruptcy before getting a divorce. In this way, all debts incurred during the course of the marriage are discharged as community debts.

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Bankruptcy and Back Child Support

Bankruptcy and Back Child Support

I am behind on my child support.  Can filing bankruptcy help me? It depends on whether a Debtor files a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. There are subtle differences.

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Bankruptcy and Taxes

Bankruptcy and Taxes

I owe taxes.  Can filing bankruptcy help me? Generally, tax debts are not dischargeable in bankruptcy. However, in law, there are always exceptions to the rule. If a tax debt is more than ten years old and the Internal Revenue Services has made no attempt to collect...

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Will Filing Bankruptcy Affect My Tax Refund

Will Filing Bankruptcy Affect My Tax Refund

If I file for bankruptcy, will it affect my tax refund? It depends on the time of the year that the bankruptcy is filed. After a bankruptcy petition is filed, the tax refund is considered property of the bankruptcy estate. This means the trustee has the right to that refund so that he or she can distribute it equally to the unsecured creditors.

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Can Filing Bankruptcy Stop a Lawsuit?

Can Filing Bankruptcy Stop a Lawsuit?

I am being sued. Can filing for bankruptcy stop a lawsuit? Yes and no. The end result of a lawsuit is a judgment against the loosing party, resulting in money damages. If a creditor wins a lawsuit against the Debtor, the creditor must collect on that judgment.

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Bankruptcy and Rental Property

Bankruptcy and Rental Property

If I file for bankruptcy, will I loose my second house? It depends on whether a Chapter 7 bankruptcy or a Chapter 13 bankruptcy is filed. A Chapter 7 bankruptcy is also known as a “liquidation” bankruptcy. If a Chapter 7 is filed by an individual or a consumer, as opposed to a business, the consumer gets to keep only that property which is exempt under Arizona law.

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Bankruptcy and Foreclosure

Bankruptcy and Foreclosure

I am behind on my mortgage payments – can bankruptcy protect my home? Yes and no, depending on which bankruptcy chapter one chooses to file. At first, all the property that a Debtor owns except property that is exempt under Arizona law (if the Debtor lives in Arizona) becomes part of the bankruptcy estate, regardless of which Chapter is filed. The exempt property and the property in the bankruptcy estate is protected by the automatic stay.

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How to Stop Annoying Creditors

How to Stop Annoying Creditors

I am being harassed! What can I do to stop the calls? There are ways of stopping annoying creditor calls, or at least minimizing them. Credit collection became so harassing that Congress passed the Fair Credit Collection Practices Act, 15 U.S.C. Section 1692. Under the Fair Credit Collection Practices Act, a creditor may not call a borrower before 8:00 o’clock in the morning or after 9:00 o’clock in the evening. The creditor also may not contact any third parties such as neighbors or friends to ask questions about the borrower. Finally, the creditor is prohibited from calling the borrower at work, or from threatening the borrower with criminal prosecution.

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