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Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.
Have you lost all hope of recovering a long-overdue debt? You’ve tried everything in your power, but the debtor doesn’t respond or keeps making excuses to buy more time. You might be preparing to write off these dues as bad debts — but there is still light at the end of the tunnel. The Law Offices of Alan M.
Chapter 13 Bankruptcy In Chapter 13 bankruptcy, which involves a structured repayment plan over a specified period, debtors are not required to liquidate their assets. IRAs are generally protected in Chapter 13, allowing debtors to maintain their retirement savings while addressing their financial obligations.
This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secureddebt with a lender, you may need to return the property to the lender if you don’t pay as agreed. What Are Your Bankruptcy Lawyer Fees?
Every case is unique, and every case merits the careful consideration of a lawfirm dedicated to providing specialized bankruptcy solutions. This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment.
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