Bankruptcy involves a legal proceeding in which an individual can eliminate debt or work out a plan to pay back debts while under the protection fo the United States Bankruptcy Court. Bankruptcy Protection Bankruptcy can prevent continued legal action by creditors to collect debts. Is bankruptcy the last resort? Many individuals feel that … [Read more...]
Bankruptcy, Foreclosure and Divorce
If one of the parties to a divorce action files for divorce, can he or she later file bankruptcy during the course of the divorce? The answer to this question is yes. Now let's change the circumstances a bit. A husband and wife are involved in a divorce and during the course of the divorce, the husband is ordered by the court to make mortgage … [Read more...]
