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What are the different types of bankruptcies?
Asked by unknown
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There are six different types of bankruptcies out of which, Chapter 7 and Chapter 13, are the two personal bankruptcy options available for individuals. In Chapter 7 bankruptcy (liquidation bankruptcy), you will have to pay your entire debt or just a part of your debt with your liquid assets. On the other hand, in Chapter 13 bankruptcy you must rep
Does one have to repay the debt they discovered after losing a parent or spouse?
Asked by unknown
1 Answers
In most cases you are not responsible for another persons debt when they die, unless you are a co-signer on the account. If however, that person was your spouse and you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), debts incurred during the marriage are considered commu