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Will My Social Security Benefits Be Affected If I Declare Bankruptcy After Retirement?

Bankruptcy In Retirement: How It Affects Social Security In Hawaii When you file for bankruptcy in Hawaii, it is natural to wonder if it will affect your social security benefits, especially if doing so after you’re already retired. The good news is, your social security benefits will stay safe. There will be no change in your eligibility or how...

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Are Government Fines or Penalties Dischargeable in Bankruptcy?

Bankruptcy & Government Debts: Distinguishing the Dischargeable from the Non-Dischargeable Individuals and families struggling with debt may consider filing for bankruptcy as an option to find financial freedom and relief from creditors. If you owe money to a local, state, or federal government, such as fines, overdue taxes, penalties, or another debt, you may be wondering if you can...

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How Does Bankruptcy Affect Co-Signers on My Loans?

The Impact of Bankruptcy on Co-Signers & Guarantors If you have debts with co-signers or guarantors, your bankruptcy petition could affect them and their responsibility for the loan. Many of these cases become complicated, so be sure to consult with your bankruptcy law office for guidance. Your attorney may also be able to help you find ways to prevent...

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Is My Retirement Account Safe if I Declare Bankruptcy?

Safeguarding Retirement Accounts in Hawaii Bankruptcy Individuals who are struggling with debt and considering bankruptcy are often concerned about what will happen to their retirement accounts if they file for bankruptcy in Hawaii. Loss of a retirement account can be significant, which is why it’s always a good idea to consult with a bankruptcy law firm for personalized advice...

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How Does My Ex-Spouse’s Bankruptcy Affect Me After Divorce?

What an Ex-Spouse’s Bankruptcy Means for Your Shared Loans Financial disputes and stress are among the most common reasons why couples divorce. When couples are financially struggling while still together, they may struggle even more when living separately. In many cases, one or both spouses may consider filing for bankruptcy during or immediately after their divorce. What happens if...

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What Happens To HSA & MSA Funds In Chapter 7 Bankruptcy?

HSA & MSA Funds in Chapter 7 Bankruptcy: Exemptions, Implications, and Strategies If you are considering filing for a Chapter 7 bankruptcy but have a health savings account (HSA) or a medical savings account (MSA), you may be wondering whether you’ll be able to keep those funds after you’ve filed.  With an HSA, you can set aside pre-tax money...

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Can You Preserve Your LLC If You Are a Business Owner Filing for Chapter 7?

How Chapter 7 Bankruptcy Affects Your Business & Assets If you’re a business owner who is thinking about filing for bankruptcy, you might be wondering what will happen to your LLC and your business holdings. These situations can be complex so it’s best to consult with your bankruptcy attorney for personalized advice. However, there are some general guidelines in...

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How Does Filing for Bankruptcy Impact Child Support in Hawaii?

Managing Child Support Debt During Bankruptcy Proceedings in Hawaii In an ideal world, all parents could fully provide for their children. Unfortunately, this is not always feasible in reality. Many parents who want to provide financially for their children are unable to do so. Whether it’s because of a lack of vocational training, difficulty finding a high-paying job, slow...

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The Bankruptcy Means Test: Qualifying For Chapter 7 Bankruptcy

How To Calculate Your Chapter 7 Means Test In Hawaii If you’ve decided to file for bankruptcy, one of the first decisions you’ll need to make is whether to file for Chapter 7 or Chapter 13. These are the two most common types of bankruptcy, but have different methods and approaches. With a Chapter 7 bankruptcy, some of your...

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| Read Time: 5 minutes | Bankruptcy

How Creditors Are Paid In a Bankruptcy Chapter 13 Repayment Plan

Creditors’ Payment Process In a Chapter 13 Bankruptcy Repayment Plan Bankruptcy is a powerful tool that can effectively help individuals who are struggling with overwhelming amounts of debt. There are multiple approaches and types of bankruptcy that are available, with specific qualifications as well as advantages and disadvantages that should be discussed with your bankruptcy attorney before you file....

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