divorce or bankruptcy

Money problems tend to impact every area of our lives so it is not a surprise that money problems are consistently listed as a major cause of divorce. Sometimes one spouse accumulates a huge amount of debt on a credit card and the parties simply cannot come up with a way to repay it. Other times medical circumstances of one spouse or a child overwhelm a couples finances and there is simply no way to make payment on the family medical debt.

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Erase your debt

A bankruptcy declaration will affect your credit score sometimes for the worse and at times for the better. If it does damage it, it won’t damage it forever. Furthermore, you may have some control over the process’s ultimate outcome. By taking steps to rebuild your credit score after filing bankruptcy, you could find yourself commanding prime interest rates and securing high-limit credit cards within a few years. You’ll simply need to pay off your remaining obligations in a diligent fashion and avoid taking on too many new loans.

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As of November 1, 2018, the Census Bureau Utah Median Income by Family Size have been updated — this happens every 6 months. The Median Income Levels for Utah are up.  This is important because the Utah median income number is a determining factor in the type of bankruptcy someone can file.  If your income…

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So which bankruptcy is best?  There really isn’t a right or wrong type of bankruptcy–it all just depends on your circumstances and what would work best for your specific situation. To give you a general idea of which bankruptcy is best you need to understand the different kinds of bankruptcy, here’s a quick summary of…

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When you file a Chapter 7 bankruptcy or Chapter 13 bankruptcy, your bankruptcy attorney should provide you with all the paperwork required to start the bankruptcy filing process. Your responsibility is provide your attorney with “all the stuff” necessary to file a case, as well as provide them with the necessary documents that are required…

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When bankruptcy is removed from credit report? Bankruptcies typically stay on your credit report for around 10 years. It will be removed automatically at the end of that period. A Chapter 7 bankruptcy usually stays for 10 years and a Chapter 13 bankruptcy stays for around 7. Bankruptcy is removed from credit report automatically. According…

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Q. What bankruptcy can do for me? In a Chapter 7 bankruptcy will cover debts like medical bills, credit card charges, personal loans, (in very rare circumstances) student loans, business debts, auto accident claims, attorney fees, money owed over lease agreements, utility bills.  In a Chapter 13 case the most common types of debts that…

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