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How Will Filing for Bankruptcy Affect My Spouse?

If you are married and struggling with debt, you may be considering filing for bankruptcy to discharge the debts and get a fresh start. But, should you file for bankruptcy with or without your spouse? If you decide to file jointly, how will the bankruptcy filing affect your spouse and their credit report?

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What Debts are Eliminated in Bankruptcy?

Some people look to bankruptcy to eliminate every debt they owe. Others aren’t sure whether they can discharge enough debt to really get the fresh financial start they need.

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What Is Bankruptcy?

Making the decision to file for bankruptcy is stressful and complex. Many individuals find themselves in deep debt and financial trouble, desperate for a solution. Many are too overwhelmed to know where to start.

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Can I File For Bankruptcy More Than Once?

There are no limits placed on the number of times you can file for bankruptcy. However, there are limits that apply to how often you can receive a discharge of your debts in bankruptcy.

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3 Tips on How to Gain Better Financial Stability

If you are in financial trouble, there are options. Although there is no magic wand, partnering with an experienced bankruptcy attorney can create a new path toward financial freedom and stability.

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Understanding the Rights and Limitations of Creditors

When debtors fail to fulfill their monetary obligations with creditors, creditors may assert their rights by initiating debt collection actions. One of the remedies to collect a debt may include filing a lawsuit or seeking a lien against the debtor.

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Bankruptcy Myths

Expenses can add up quickly and lead to significant debt. Credit card debt and medical debt are two common types of debt that many Americans have to find a way to pay.

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The Rights & Limitations of Creditors

If you have incurred a debt, the creditor has a right to repayment of the debt, including any interest or fees specified in the debt contract. If you fail to repay the debt, creditors or the collection agencies they hire in their stead have the right to contact you about the debt. To protect you, however, they also have limitations to what they can do in the debt-collection process.

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Common Bankruptcy Myths

Major life events, such as a job loss or medical emergency, can sideline you from settling debts, paying bills, or meeting your other financial obligations. When going through a difficult financial situation, filing for bankruptcy is among the promising options to help you achieve debt relief or get the financial fresh start you deserve.

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