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Some banks will freeze the money inside of a bank account after you file bankruptcy, when you owe the bank on the charge card or other loan.
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Such as, based on which type of bankruptcy is most effective for yourself, you may be able to considerably reduced your regular monthly payments for as many as 5 years.
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All over again, you needn't close other accounts—leave them open and report all accounts when filling out your bankruptcy paperwork.
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Guarding the funds in the account. Most states do not have a bank account exemption, and if one exists, the quantity it'll cover might be small—so Examine your state's exemptions.
Selected kinds of profits can not be taken from you in an effort to pay off debts. By way of example, any money you will get from Social Safety or veteran Advantages is money that cannot be garnished from a bank account.
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