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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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simple how do I protect an ING account only $ I have non-erisa

Resolved Question:

simple how do I protect an ING account only $ I have non-erisa qualified but can not touch until 2017 then 675,000 dollars but Due to my debt credit went 720 to 450 mainly I need to hold off lawsuits I will win but can not afford to fight now thoughtXXXXXto hold off suites createddue to new owners that bought my bldng and clinic keep changing drs ,biz name and saying I owned the office until a month ago despite I sold to them in 06 its 2010 still doing it help
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

a chapter 13 appears to be the better choice for this scenario. I will explain

As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.

A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets that exceed your exemption.

A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
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