What Happens to My Bitcoin in Chapter 7 Bankruptcy?

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What To Look For When Choosing A Bankruptcy Attorney

When filing for bankruptcy, most people also feel that with a bankruptcy attorney at their side there is much less chance of them making an egregious error of some sort. But how do you go about choosing the right attorney for yourself?

Chapter 7 Bankruptcy: The Lessons I Learned, and Applying Them to Life

In 2011 I filed for Chapter 7 Bankruptcy in Colorado. It was a decision I made after I spent some thinking time on the situation at hand. I had accrued more than $45,000 in credit card debt, and I had a mortgage, one baby with another on the way, and a wife who was mothering our babies as her full-time profession. I accrued this debt in a matter of months.

Bankruptcy Affects Your Credit Score

Sometimes life can get tough, and bankruptcy may be your only option. Bankruptcy affects your credit score, but maybe not in the way you think.

Dealing With Credit In Bankruptcy

Dealing with one's credit is an ongoing job and can be stressful at times. When finances are tight and payments get missed, credit can be affected quite quickly. One of the most worrisome times for individuals is in delinquency. Debts become burdensome and even the idea of bankruptcy can seem overwhelming. Further, most people tend to view bankruptcy as being bad for their credit, a myth that should be more carefully reviewed.

Common Myths About Bankruptcy

There are many misconceptions that people hold about bankruptcy, mostly due to the lack of understanding of the process. While there will always be legitimate concerns, many of these myths prevent people from seeking the help that bankruptcy can offer. These top three myths are the most common when discussing bankruptcy and the facts behind the myth may be quite surprising to some

What's Behind Bankruptcy Filing Patterns?

There has been much discussion lately about bankruptcy filing numbers and the recent decrease in filings. Although this comes as good news, it does point out some contradictory evidence as well. A recent analysis of bankruptcy filing patterns reveals some interesting facts into factors that contribute to increases and decreases in filing numbers.

What To Expect In Bankruptcy

The bankruptcy process is not intended to be stressful for anyone, but people are often overwhelmed by the process. The main reason is that very few people have an accurate understanding of how the process works and what to expect along the way. Getting informed about the ins and outs of bankruptcy can help prepare you for process and ensure you are able to make a smooth transition.

Understanding Lien Avoidance in Bankruptcy

To truly understand the effect of filing bankruptcy you must know the difference between a debt and a lien. In most instances, bankruptcy discharges debt but has no effect on the lien itself.

Planning to Get Married? You May Want to Consider Bankruptcy

Your future spouse may come with financial baggage that affects you detrimentally, and makes married life less than perfect. If you are planning on getting married, and have debt, while you are picking out wedding cakes, flowers, and invitations, consider meeting with a bankruptcy attorney as well. Your future spouse will thank you.

Applying Judicial Estoppel to Bankruptcy

Failing to list a cause of action in a bankruptcy petition can have dire consequences. Debtors considering filing bankruptcy must tell their attorney if they have been in a car accident, injured at work or if they are owed money for any reason.

Deficiency Balance After Repossession or Foreclosure

Deficiency balances can remain after a repossession or foreclosure. When deficiency balances are ignored they often deteriorate into a more aggressive collection activity such as a wage garnishment or a bank account freeze.

Avoiding Bankruptcy Fraud

Bankruptcy laws are very specific about how the process is to be managed and what is required of each filer, which is why accuracy and honest is of utmost importance. Anyone considering filing for bankruptcy should take extra precaution to avoid certain mistakes that could result in a dismissal of the case or even fraud.

The Cost of Waiting to File Chapter 13 Bankruptcy

Procrastination can be very expensive for the indebted. This is especially true for bankruptcy filers who have a high income.

Chapter 13 Bankruptcy Debtors Must Make Sure Secured Creditors File Claims

Bankruptcy debtors must pay close attention to creditor's claims after confirmation of their plan. Watching the deadline to file a claim and making sure that proof of the secured claim is filed can save the debtor a lot of money, their house, and their car.

Filing Bankruptcy May Improve Your Credit Rating

If your goal is to improve your credit rating, bankruptcy should be considered. Credit ratings do recover after discharge, and many debtors will find that their ability to obtain credit improves after bankruptcy.

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