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Answered 2006-12-31 06:48:35

Only if you are in threat of being garnished or a lien may be placed on your property. A bankruptcy lasts as long as a bad debt. Bankruptcy just costs money. You have a better chance of disputing the loan in a few years were as bankruptcy lasts longer. Your best bet is to talk to a lawyer, but they will almost always tell you to file. Also, the laws for bankruptcy are a lot harder now.

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Corporate Bankruptcy Filing is the name given to the process when a business becomes insolvent and unable to meet their debt commitments. This is in contrast to personal bankruptcy where an individual becomes insolvent.


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Yes, filing for bankruptcy does not protect you against law suits . It protects you on the payment part. Any way, after every body learns that you filed for bankruptcy, they won't lose their time - and money - to sue you, because they know you are unable to pay .


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What describes a bankruptcy?

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What can you do to help clean up debts on your credit report?

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Do you know bankruptcy?

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