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Can you declare bankruptcy you get 579 a month disability plus 62 food stamps you have 4000 credit card debt Cant pay the billss?

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2005-09-06 02:48:48
2005-09-06 02:48:48

You could file bankruptcy, but do you have any assets that a creditor could come after? Your disability payments are exempt from garnishment. The filing fee for a chapter 7 bankruptcy is $209 and the attorney's fees will be $500 at a bare minimum. Bankruptcy is very difficult to do all by yourself.

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You can declare bankruptcy due to credit card debts, yes.

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Yes. If you declare bankruptcy you must declare all cards, loans, assets and debts.

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No, discharged debt is considered a forgiveness of debt and not a bankruptcy. Bankruptcy can only happen as a result of bankruptcy court procedure. Certain loans can be discharged due to hardship or disability, especially if there is an insurance policy in force to cover such a situation. When a loan is forgiven due to hardship or disability, the debtor's credit rating is usually not affected.

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You either have to work out something with the credit companies or declare bankruptcy. The bankruptcy process will liquidate all of your goods and assets, with exceptions for minimal housing and vehicles, and allow you to start over. You will have to consult a bankruptcy attorney.

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== == NO, you have to turn in any credit cards and include the credit card debts in the bankruptcy. You can't pick and choose what debts you are going to include.

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Of course you can. If it is a large apartment complex or upscale home where a credit check is run, they may decline to rent to you just as if you had bad credit. Most of the time after bankruptcy that's the only way to get a residence.

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The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.

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Bankruptcy lowers your credit report.

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There are many companies that specialize in bankruptcy credit counseling. Companies that specialize in bankruptcy credit counseling include Alliance Credit Counseling, American Consumer Credit Counseling, and Approved Bankruptcy Certification Services.

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will bankruptcy increase you credit score over time

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If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.

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Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.

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You do not have to necessarily get credit counseling before you can file for bankruptcy.

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What needs to be done to get bankruptcy off credit repot

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Yes, you can still get insurance after bankruptcy. You may have to pay a higher premium though due to a poor credit score. You also may want to shop around for a better rate. There are still insurance companies in the United States that do not credit score.

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The limitation is 4 to 6 years depending on the type of credit card debt. Many people declare bankruptcy when they could just wait for the debt to disappear.

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The only way to remove a bankruptcy from your credit report is to dispute it to the credit bureaus. The credit bureaus have 30 days under the Fair Credit Reporting Act, to verify your bankruptcy withe the court that filed it or it must be removed from your credit report.


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