Although no one wants to file for bankruptcy, it can sometimes be a good option if you have mounting debts to repay. Although there are many different bankruptcy codes, they all can be divided into two basic categories: liquidations and reorganizations. If you are an individual filing for bankruptcy, you will most likely be looking at chapter 7 bankruptcy—or liquidations; or, you'll be looking at chapter 13 bankruptcy, which is a reorganization.
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If you've been involved in an accident, you have the right to compensation for your injuries, especially if the accident was not your fault. If you're married, you'll probably want your spouse to share in the settlement. However, if you and your spouse are having marital problems, that could become a problem for you once your settlement arrives. The last thing you want is to have your spouse file for divorce, and take half your insurance settlement.
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When you're involved in an auto accident and the other driver was at fault, you typically still have the right to sue for compensation for damages and losses you sustain, even if you don't have auto insurance. However, several states have instituted a rule that could prevent uninsured motorists from getting what they're owned. Here's the lowdown on this unexpected development.
No Pay, No Play
Every state requires drivers to purchase auto insurance, and you will be subjected to a myriad of consequences if you're caught driving uninsured.
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Homes appreciate in value most of the time. So when two people get a divorce, they typically split the positive equity that's built up. However, approximately 13.2 percent of homeowners are underwater on their mortgages, which means they owe more than the home is worth. If you and your soon-to-be ex-spouse are stuck in this particular situation, here are two ways to handle this situation to avoid being stuck with that debt:
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When it comes to being hurt at work, it can be devastating to your financial health. You may be unable to do your job, and this could mean not getting paid. One of the best things to do at this stage is to file for workers compensation. If you're satisfied with your claim, you could get the money you need to survive until you're well again. However, there are certain things you will want to avoid during if you're in this situation, and knowing what these are may be helpful to you.
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