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August 2016 Archives

Elements of the bankruptcy estate

If an individual receives payment for services after filing for Chapter 7 bankruptcy, it may still be property of the bankruptcy estate. Florida residents may be interested in the finding of a bankruptcy judge in Massachusetts in that regard. In thecase that was decided on Aug. 17, an attorney received $10,000 from a client after filing for Chapter 7 protection for services performed before the petition was filed. The attorney reportedly also billed his client for $291, $8,924, and $2,070 after the petition was filed.

How Chapter 13 bankruptcy can help you - II

Last week, we started discussing how an unforeseen event -- divorce, loss of a job, debilitating injury, serious illness, etc. -- can wreak financial havoc on even the most financially prudent individuals, rapidly draining their bank accounts and pushing them toward the brink of insolvency.

How Chapter 13 bankruptcy can help you

While most people understandably believe their finances are secure enough to weather any problems that life may throw their way, this doesn't always prove to be the case. Indeed, anything from the sudden loss of a job or a divorce filing to the onset of a serious injury or illness can rapidly drain bank accounts, increase reliance on credit cards and wreak financial havoc.

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