Is it smart to declare bankruptcy after retirement?

Answer On One Hand: Bankruptcy Can Be BeneficialA retiree with assets can protect items such as a home or car from creditors by filing for bankruptcy. Retirees without significant assets can file for bank... Read More »

Top Q&A For: Is it smart to declare bankruptcy after retirement

How often can you declare bankruptcy?

You must wait eight years between Chapter 7 filings and six years between a Chapter 7 and a Chapter 13 bankruptcy. You can file Chapter 13 every two years or four years after a previous Chapter 7 f... Read More »

Can an llc declare bankruptcy?

An LLC, or limited liability company, can file for bankruptcy. LLCs are popular because they offer limited personal liability to the owners of the company. Owners, however, need to be sure they hav... Read More »

What does it mean to declare bankruptcy?

Declaring bankruptcy involves clearing a person's debts in order to give him a fresh start. In Chapter 7 bankruptcy, a person forfeits all non-exempt property and debts are discharged. In Chapter 1... Read More »

How to Know If You Need to Declare Bankruptcy?

For someone with large amounts of debt, the decision of whether to file bankruptcy is an extremely important one, and one that should be well thought out and researched. Bankruptcy is a legal proce... Read More »