Will You Have to Pay Back the Debt Anyway

Title:
Will You Have to Pay Back the Debt Anyway?
Word Count:
759

Summary:
The most widely held misconception about bankruptcy is that it´s the debtor´s version of the ˆ

Keywords:
Bankruptcy alternative , Debt negotiation , Debt settlement

Article Body:
The most widely held misconception about bankruptcy is that it´s the debtor´s version o
So when is it likely that you´ll have to pay back your debts?
1)

You make more than the average person in your state.

Illinois
1-person
2-person

3-person
4-person

2)

Here are the most common scenar

If this is the case, then it´s l

Estimate
families
41,650
families
52,891
families
62,176
families
72,368

You have assets.

If you own a home or car, then it´s possible that the bankruptcy court w

What does this actually mean?

Consider the following example.

Let´s say you have a house that´s worth $250,000, and it´s in both yours and your wife´s name.
Let say your house was only worth $215,000, but everything else in the above example remained

3) The creditors can prove that you were fraudulent and never had any intention of paying them

For the majority of us it means that unless a) you don´t have a lot of equity in any of your p

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