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Malcolm Ruthven
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Guiding People in Financial Distress through the Complex Arena of Bankruptcy Law
Guiding People in Financial Distress through the Complex Arena of Bankruptcy Law

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According to a recent article on nerdwallet.com, waiting to file bankruptcy extracts a large price. You're in the financial "sweatbox", depleting assets, getting sued by creditors, and forgoing basic necessities like medical care and good food. The longer people stayed in the sweatbox, the worst their overall financial situation became.
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What happens to your credit union children's accounts if you file bankruptcy and also owe money to that credit union? It isn't pretty!
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Why avoid certain banks if filing bankruptcy? Because if you don't, you could lose a lot of money! Here's why and how...
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Many clients ask me if the debt that's discharged (eliminated) in bankruptcy will stay gone forever. The simple and correct answer is Yes. But that really isn't the whole story.
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If you think "payday" loans are bad, consider a loan of $5,000 that requires you to pay back $42,000. Yes, that can happen in California.
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The owner of a payday lending operation was sentenced to more than 16 years in prison, and the general counsel (attorney) for the business was sentenced to 7 years.
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Family farmers who need Chapter 12 bankruptcy thought they were getting a break in 2005 with the new bankruptcy laws. But the U.S. Supreme Court interpreted a poorly-written part of that law to take away that break. They've now fixed that.
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I'm often asked if someone is liable for their husband's (or wife's) debts. The short answer is "No". Let's explore the rest of the answer.
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Are you in the fortunate situation of having too much money to file bankruptcy? Let's see how you can fix that.
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The short answers are "probably not" and "it depends". Let's expand on those short answers.
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