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What are Junk Debt Buyers?

What are Junk Debt Buyers?

If you’re one of the millions of people in this country struggling with debt, then you may have had the unfortunate experience of having to deal with a junk debt buyer.

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How to Prepare for Bankruptcy Consultation

How to Prepare for Bankruptcy Consultation

For most people, discussing financial matters is very personal and sensitive. Be sure that you are comfortable communicating with your attorney. For your attorney to do a good job, you’ll need to have a frank and honest discussion about your finances

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Will Filing for Bankruptcy Affect My Job?

Will Filing for Bankruptcy Affect My Job?

Even if your employer does find out about your bankruptcy, it is against the law for your employer to discriminate against an employee who has filed for bankruptcy. The U.S. Bankruptcy code, which is a federal law, specifically outlines many situations where discrimination against people who have filed for bankruptcy is prohibited.

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What to Expect at 341 Meeting—So Called “Meeting of Creditors”

What to Expect at 341 Meeting—So Called “Meeting of Creditors”

A “341” meeting is a meeting required under Bankruptcy Code section 341. It is a meeting where the Trustee will put you under oath to answer questions about your petition and schedules. If the case is a Chapter 11 or Chapter 13, the questions will involve what the plan going forward will entail, and the meeting will be more in depth.

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Rebuilding Credit After Bankruptcy

Rebuilding Credit After Bankruptcy

Bankruptcy gives you an opportunity to get a fresh financial start. Having a bankruptcy on your record can cause problems if you need to apply for loans, mortgages and other financing. Though the impact of bankruptcy on your credit report and credit score can last up to 10 years, you can improve your scores quicker if you are able to rebuild credit.

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Debtors Can Choose Which Exemption System to Use When Filing in New Mexico

Debtors Can Choose Which Exemption System to Use When Filing in New Mexico

In most states, when filing for bankruptcy, the Debtor has no choice about exemptions. The only exemptions available to the individual in most other states will be the state exemptions. The bankruptcy code provides that state law may provide for debtors to have a choice of the federal exemptions or state exemptions in bankruptcy, and New Mexico has done so.

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Tax Considerations in New Mexico Divorce

Tax Considerations in New Mexico Divorce

One of the most important aspects of a divorce is for the court to determine how assets and debts are divided among spouses. New Mexico follows the “community property” legal system, which holds that all assets acquired during a marriage that are not considered separate property are community property and will be split during a divorce.

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How Assets and Debts are Divided in a Divorce in New Mexico

How Assets and Debts are Divided in a Divorce in New Mexico

One of the most important aspects of a divorce is for the court to determine how assets and debts are divided among spouses. New Mexico follows the “community property” legal system, which holds that all assets acquired during a marriage that are not considered separate property are community property and will be split during a divorce.

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Protecting creditors’ rights in bankruptcy – part 3

Protecting creditors’ rights in bankruptcy – part 3

Perhaps the most important characteristic of a bankruptcy is that is brings all of the debtor’s assets and all of their debts into the same arena so the court may weigh one against the other. When it comes time for creditors to get paid, the court will use claim priority to determine who gets what.

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