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Bankruptcy Basics

Bankruptcy law is complex. It can be overwhelming for the consumer researching the subject to read technical legal jargon, which is why we created the Bankruptcy Basics section of the site. At National Bankruptcy Forum, our goal is to provide readers with useful information about bankruptcy and debt that can be easily understood. In this section of the site, we have published over 100 articles that focus on the basics of bankruptcy, such as exemptions, property issues, filing deadlines, and costs. You’ll want to consult with an experienced bankruptcy attorney before filing for bankruptcy, however. This site is not meant to be considered legal advice.

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Posted On: June 15, 2017

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Posted by: Deborah Kurfiss

Chapter 7 Bankruptcy in Connecticut: What You Need to Know

Connecticut is one of the original states that was pivotal to the American Revolution and forming of our federal government. Although it’s technically the southernmost state in New England, several of its cities are considered part of the bustling New York-New Jersey metropolitan area. Generally a well-to-do state, Connecticut had the highest per-capita personal income…

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Posted On: June 2, 2017

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Posted by: Moderator

Corinthian Colleges Students Eligible for Loan Discharge

Get out of student loan debt free? If you’re a former student of Corinthian Colleges, you might. The for-profit Corinthian Colleges, which stopped operating in 2015 and displaced more than 10,000 California students, was under fire by the U.S. Department of Education after it found the schools made false claims about their post-graduation employment rates…

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Posted On: April 18, 2017

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Posted by: Joshua McCloud

Chapter 7 Bankruptcy in Alaska: What You Need to Know

Last updated May 18, 2017. While the United States has mostly come out of the Great Recession, Alaska is still experiencing its own due to a steep drop in oil prices and resulting budget crisis in 2015. According to a recent economic confidence survey, Anchorage residents are feeling more pessimistic about the local economy today than they…

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Posted On: March 31, 2017

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Can I Keep Livestock and File Bankruptcy?

People who are considering bankruptcy often wonder whether they will be able to keep their property, and farmers are no exception. People who keep livestock and grow crops for a living are often worried that by filing for bankruptcy, they will end up putting themselves in a position where they will be forced to part…

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Posted On: February 27, 2017

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4 lessons from 50 Cent’s bankruptcy case

A federal judge recently discharged the bankruptcy case of rapper 50 Cent after he paid more than $22 million of his debt. 50 Cent filed for Chapter 11 reorganization in 2015, with debts of $36 million and assets of less than $20 million. The “Get Rich or Die Tryin’” artist, whose real name is Curtis…

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Posted On: January 14, 2015

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How bankruptcy and debt solutions impact your credit score

When you’re in debt and trying to decide what action to take, you may be concerned about how to protect your credit score. That’s often one of the last barriers to deciding to file for bankruptcy – so how much does bankruptcy affect your score? The answer may surprise you. Bankruptcy certainly does have an…

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