What Happens to Your 401(k) or IRA in Bankruptcy

What Happens to Your 401(k) or IRA in Bankruptcy

If you’re considering filing for a Chapter 7 or Chapter 13 bankruptcy and 401(k) concerns are on your mind, you’re probably worried about preserving your hard-earned retirement savings on the other side of the process when you hope to restart your financial future. It makes sense that you would want to be able to hold

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Can One Spouse File Bankruptcy (Without Affecting the Other?)

Can One Spouse File Bankruptcy (Without Affecting the Other?)

Does a married couple have to file bankruptcy together, or can just one spouse file bankruptcy? Whether due to wanting to protect a loved one from stress and anxiety, embarrassment from bankruptcy when married, or financial strategizing, there a host of reasons why a spouse may wish to file bankruptcy independently of their husband or

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Does Bankruptcy Clear IRS Debt or Remove Tax Liens?

Does Bankruptcy Clear IRS Debt or Remove Tax Liens?

Does bankruptcy stop tax debt? Well, according to the IRS’s own website (www.IRS.gov), you can free yourself from the burden of past-due federal tax debt you can’t pay by declaring bankruptcy. Bankruptcy under Chapter 7 or Chapter 13 of the U.S. Code is available for individuals who have experienced extreme financial hardship, whether from a

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341 Meeting of Creditors During Bankruptcy – What to Expect

341 Meeting of Creditors During Bankruptcy – What to Expect

341 Meeting of Creditors During Bankruptcy – What to Expect Once your bankruptcy petition has been filed through the Electronic Court Filing (ECF) system used by the federal courts, you will be given a docket number and a set of dates for your bankruptcy proceeding. One of these will be the “341 Meeting,” a meeting

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What Happens When You File Bankruptcy in Texas?

What Happens When You File Bankruptcy in Texas?

If you’re struggling financially, declaring bankruptcy gives you the opportunity to pay down a portion of your debts over time or have some of them eliminated entirely through “discharge.” Sounds like a great solution for when times get tough, right? There are, however, specific procedures to understand before filing for bankruptcy, as well as potential consequences

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Do I Qualify for Bankruptcy – Chapter 7 – Criteria for Eligibility

Do I Qualify for Bankruptcy – Chapter 7 – Criteria for Eligibility

Filing for bankruptcy may help you escape financial trouble when you find yourself underwater and struggling to pay debts you cannot afford to pay. Whether through the discharges available through Chapter 7, or repayment plan available through Chapter 13, bankruptcy can give people struggling with debt the freedom they need from financial problems so that they

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Can Bankruptcy Stop Garnishment in Texas? – Chapter 7 & 13

Can Bankruptcy Stop Garnishment in Texas? – Chapter 7 & 13

Wage garnishment occurs when a Texas State court issues an order that requires your employer to withhold a portion of your paycheck and send it directly to a person or entity to which you owe money. Generally, garnishment continues until a debt is paid off in full. The debts for which a wage garnishment order

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How Much Does It Cost to File Bankruptcy in Texas?

How Much Does It Cost to File Bankruptcy in Texas?

How Much Does Bankruptcy Cost? What does it cost to declare bankruptcy? The cost to file bankruptcy includes the required filing fees for Chapter 7 or Chapter 13 Bankruptcy, required credit counseling and financial management fees, and certain other fees depending on how you choose to proceed with your case. Determining how much to file

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