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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

Protect secured debt (home and car) from default to avoid a repossession or foreclosure. Negotiate unsecured debt (credit cards) if you are unable to keep up with payments. Why is a Chapter 13 Bankruptcy Worse a Debt Settlement Program? Take advantage of payment waivers.

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

When You Have Too Much Debt to Handle Sometimes debt can pile up to the point where making even minimum payments feels impossible with your current income. Credit card balances, personal loans, and other unsecured debts can quickly spiral out of control, especially when combined with secured debts like a car loan or mortgage.

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What Debts Can Bankruptcy Eliminate: Examples of Unsecured Debt

Debt Free Colorado

Unsecured Debts in Chapter 7 Bankruptcy In Chapter 7 bankruptcy , most unsecured debts can be wiped away completely. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. Chapter 7 bankruptcy remains on credit reports for 10 years.