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Federal laws designate specific rules that must be followed to be able to file bankruptcy. Although these rules are a large part of the criteria you must meet, there are also state laws that add more criteria. Bankruptcies are not to be entered into lightly, so it s important that you understand the differences and file under the appropriate chapter that applies to your specific circumstances.

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Chapter Eleven bankruptcies are reserved for businesses. Under this chapter, business owners [url=http://www.mquin.com/gzparis.php]giuseppe zanotti pas cher[/url] are allowed to keep the business running. Debt claimed is restructured for repayment through a reorganization of the company. This means that the [url=http://www.sandvikfw.net/shopuk.php]hollister outlet sale[/url] debt that you have is not dissolved, but instead is set to a plan for repaying [url=http://www.mquin.com/saclancel.php]lancel[/url] the balances owed.

Chapter Thirteen bankruptcies are sometimes confused with a Chapter Seven. Under a Chapter Thirteen, debt claimed is not discharged. Instead, it restructures the debts, combining them into payments that are based on the filer s income. You don t have to surrender your assets. The [url=http://www.ilyav.com/uggsoldes.php]ugg pas cher[/url] court will determine, again based on income, the time you have to repay your debt. After you have completed your repayment plan, within either three or five years, your debt is then discharged.

There is also a chapter that is specifically designated for farmers and fishermen who use these means to support their family. In order to qualify [url=http://www.moncleroutletosterblade.com]moncler outlet[/url] for this chapter as a business, your company must be owned by a single family unit. For individuals, you must verify your occupation. Your total debt must not exceed certain limits and the ability to repay debts must be proven.

State rules have a few additional requirements. Many states will also require credit counseling before any chapter will be granted. There are also some states that will require you to obtain a lawyer because of the complicated nature of certain chapters. Regardless, it s a good idea to discuss your options to see what you qualify for.

If you can t qualify for any chapter, you have other options. You can try a debt consolidation that gives you [url=http://www.mxitcms.com/tiffany/]tiffany[/url] one [url=http://www.mnfruit.com/louboutinpascher.php]louboutin[/url] payment you can afford. You can also contact your creditors to negotiate better payment terms. Both of these options can help you repay your [url=http://www.thehygienerevolution.com/barbourparis.php]barbour[/url] debt in a manner that you can afford.

Filing bankruptcy can be a [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] confusing and long process if you don t know what you re doing. It is important to research the different bankruptcies to see which ones are applicable to you. You should talk with a specialized lawyer to find out exactly what you [url=http://www.jordanpascherofficiele.com]air jordan[/url] need to do.
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