Have the Best Understanding of What Happens When You File Bankruptcy
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Posted inBenefits of filing bankruptcy, Chapter 13 bankruptcy, What happens in chapter 13 bankruptcyNo Comments
Filing bankruptcy can be a scary feeling, and most of us do not know what happens when you file bankruptcy. There are a few general pieces of knowledge you can read about, but the best thing to do is consult a bankruptcy attorney. Your bankruptcy lawyer can give you the best advice for your specific case.
Although national bankruptcy filings fell by around 182,000 from 2010 to 2011, it is still a reality for many Americans. Currently in the U.S., one out of every 70 households files for bankruptcy. If you feel that you need the fresh start of filing for bankruptcy, you must know which chapter you are going to file, and also that it will not wipe out all of your debt completely.
What happens when you file bankruptcy will depend on what chapter of bankruptcy you file. Chapter 11 bankruptcy is probably the lea