November 27, 2021by superuser
The Effects Of Bankruptcy On Real Estate Post-Covid-19
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BANKRUPTCY IN REAL ESTATE
Bankruptcy can affect almost every aspect and field of life leaving no exception to the real estate sector and the persons involved in this field. Bankruptcy in real estate affects the status of the tenant, landlord, and the status of the mortgagor and the mortgagee, etc.
Bankruptcy in real estate does not...
November 27, 2021by superuser
What Happens to Tax Debt if I File for Bankruptcy
What Happens to Tax Debt if I File for Bankruptcy
Bankruptcy laws vary from one situation to another. For example, Chapter 7 discharges a debtor from tax debt. In Chapter 13, on the other hand, all debts enter a repayment plan. In some cases, bankruptcy can discharge income tax, like any other unsecured debt. But income tax cannot be discharged if you have failed to file...
November 27, 2021by superuser
Building Your Credit Score After Bankruptcy: What US Legal System Says
Building Your Credit Score After Bankruptcy: What US Legal System Says
BANKRUPTCY.
Bankruptcy is a state when a person or more suitably a debtor becomes unable to pay the amount owed to his creditor and declares himself bankrupt which is completely allowed and a legal one but mostly in welfare states only. A creditor can also be declared a debtor through court after...
November 25, 2021by superuser
WHAT YOU NEED TO KNOW WHEN GOING FOR BANKRUPTCY IN THE U.S.
Declaring Bankruptcy
Bankruptcy or a proper court order may occur at the brink of insolvency when a person becomes unable to pay his bills and fulfill the obligations or pay debt owned by him. Bankruptcy is a legal process and one can file bankruptcy on their own or can be declared bankrupt on the petition of any or all the creditors. After filing for bankruptcy, the person...
November 25, 2021by superuser
Should I File for Bankruptcy To Stop Credit Card Lawsuits
What can a debtor do in the event of a credit card company filing a lawsuit against them? Well, it would be in the best interest of the debtor to take immediate action and file for bankruptcy to stop that lawsuit. The reason is that if the credit card company succeeds in filing a lawsuit against them, the property of the debtor can be put on a lien, making it difficult for...
November 24, 2021by superuser
HOW TO PROTECT YOUR ASSETS DURING BANKRUPTCY: A LOOK AT US LEGAL SYSTEM
HOW TO PROTECT YOUR ASSETS DURING BANKRUPTCY: A LOOK AT US LEGAL SYSTEM
It is an obvious misconception that insolvency requires the loss of all of your assets. One can avail a wide range of exemptions for the protection of their property. When an asset is exempted, it shall be protected from being sold and no payment whatsoever is made to the creditors. The opportunity to...