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Creditors must always eliminate the debt owed by the debtor when there is a bankruptcy.

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Otis Steuber

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3y ago

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Related Questions

What statement is not true regarding bankruptcy?

The judicial branch of the Federal Government includes the U.S. Supreme Court.


Bankruptcy is a legal proceeding that is regulated by the federal government?

true


What qualifies you to declare bankruptcy?

There are General Federal Laws that govern Bankruptcy. Each state may have additional laws regarding bankruptcy. So Is Best to consult an attorney or financial adviser in your state.


Is bankruptcy a legal proceeding that is regulated by the federal government?

true


Where can one find information on Declaring yourself bankrupt?

One can find information regarding a personal declaration of bankruptcy on the Debt Advisory Centre website or the IRS site. One must start by filing for bankruptcy with a bankruptcy petition.


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Can college debt be included in a bankruptcy?

No. Educational loans will remain with your during and after the bankruptcy is completed. This holds true regardless of whether you decide to file for Chapter 7 or Chapter 13 bankruptcy.


A bank may file a voluntary petition with the bankruptcy court?

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Many things are true regarding the Buddha. You need to narrow down your question, or give some context.


True or false The act of being declared legally unable to pay one's debts is called bankruptcy?

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Can you file for bankruptcy at any time?

The short answer is no. There are legal restrictions regarding when and how often you can file bankruptcy, as well as the type of bankruptcy (if any) you are eligible to file. You will likely need to be able to pay any court and legal fees involved, as well, so proceed with caution.


Mental health rights regarding personal bankruptcy?

That would depend on a variety of factors that you do not state, and that we are not equipped to address. Your bankruptcy attorney should be able to answer any questions you might have. If not, find a different attorney.

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