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Archives for July 2015

How Chapter 13 Helps If You’re Behind on a Vehicle Loan

Falling behind on a vehicle loan is a scary experience, especially if you are rely on your vehicle to get to work (or to find work!), and to take care of life’s other necessities. It is all too easy to get your vehicle repossessed—vehicle lenders’ contracts usually let them to do as soon as you are late on your payment. Limitation under Chapter 7 “Straight Bankruptcy” Once you have fallen behind on your payments even regular Chapter 7 bankruptcy provides some help, but it’s limited. … [Read more...]

Choosing Between Chapter 7 and 13 after Closing Your Business

If you’ve already closed down your unsuccessful business, or are thinking of closing one you are now operating, you no doubt are wondering about the best way to deal with the debts that are now saddling you from that business. The answer depends on many factors, including the type of debts that you owe. Here are the main types of business debts, and how Chapter 7 and Chapter 13 would each deal with them. Income and Withholding Taxes Very often the closing of a business leaves the owner … [Read more...]

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