Mortgages And Bankruptcy: What Happens?

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When you are thinking about filing bankruptcy one of the biggest concerns is often: what will happen to your mortgage? Will filing bankruptcy help prevent foreclosure on your home? Will it be able to reduce your monthly payments? The answers depend mainly on the type of bankruptcy that you file. You can choose either Chapter 7 or Chapter 13, and each works very differently.   Your Mortgage Under Chapter 7…

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3 Legal Options To Handle A Chapter 13 Plan After A Spouse Dies

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A major part of a Chapter 13 bankruptcy filing is the repayment plan. If you fail to make the scheduled payments on time, your bankruptcy status could be in jeopardy. If you and your spouse filed together and he or she dies while the plan is still in effect, you have several options available to deal with the remaining payments.  Request a Modification Modifications to repayment plan are sometimes allowed by the bankruptcy court if there is a situation that warrants it.…

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Impoverished Spouse Claims And How They Can Help In A Bankruptcy

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During a marriage, there may be several issues with how the family income is spent. A well-paired set of partners consists of two people who can evenly disperse the money responsibly, but more often than not there is a partner who spends rather foolishly while the other partner is more conservative. It is one of the biggest reasons couples fight and eventually divorce. If you are the partner that wanted to act and behave responsibly with money but now find yourself floundering under insurmountable tax debt that should not be yours, you can claim “…

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