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Debt Settlement Is A Dud

By Cathy Moran

debt settlement

Debt settlement is often dangled in front of the financially challenged as an alternative to bankruptcy. Sounds good:  making a deal with your creditors has enormous appeal when you can’t pay everything that you owe. And debt settlement companies count on it. The pitch for “settling your debts” touches a nerve.  Almost everyone WANTS to […]

Filed Under: Considering Bankruptcy Tagged With: debt management, debt settlement, settle debts

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

Everyone gets $1M + bankruptcy exemption

Bankruptcy exemptions vary from state to state, but everyone gets an exemption of ~$1.75 M for money in an IRA. It's part of the Bankruptcy Code (section 522(n)) that applies to all filers, wherever they live. The exemption covers both classic, before-tax IRA's and Roth IRA's that are funded with after-tax dollars. … Read more

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