Category : Bankruptcy : Business & Finance

What Happens When the Car Loan Included in a Chapter 13 Filing Is Paid Off by the Insurance Company?

Bankruptcy
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A car loan is one of many debts you can restructure through a Chapter 13 bankruptcy plan; but what if you total your car during your case? If the insurance company pays the car loan in full, the trustee will take the claim out of your case, but your payment to the trustee will remain the same unless

Define Bankrupt

Bankruptcy
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Individuals file for bankruptcy for many reasons. The loss of a job, drastic reduction in income and the development of a severe medical condition seem to be the leading reasons why individuals declare bankruptcy. Many people are ill-informed about the true meaning of bankruptcy, as the term is typi

Rules for Involuntary Chapter 7

Bankruptcy
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Involuntary Chapter 7 bankruptcy is an action taken by multiple creditors where a substantial amount of debt exists against a single person. A forced bankruptcy must be ruled on by a bankruptcy judge and can effectively force a debtor to liquidate his assets to pay off his debts in accordance with b

Facts About Student Debt

Bankruptcy
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Student loans can open up a world of opportunity, making college a reality for people who could otherwise not afford a postsecondary education. On the other hand, student debt is a serious and long-term responsibility, so before taking on any student debt, it's important to understand how such debt