What are the list of bad deeds that make a person bankrupt?
Jan Meriss Alfonso Assistant at Ascent Law LLC Bad Deeds That Make a Person Bankrupt Bankruptcy is a legal process that allows people to remove certain debts from their accounts. However, it comes with negative consequences. For starters, it will damage a person's credit for up to seven years. This can make it difficult to borrow money and is socially stigmatized. Exempt items from bankruptcy Bankruptcy law protects certain items from bankruptcy, including essential household items. A single item worth less than $575 can be exempt. However, there are certain items that are not covered by the exemption. For example, televisions and artwork are not exempt. Recreational vehicles and other items that are not necessary to a person's life are also not included. Bankruptcy Law Bankruptcy law varies by state, so it's important to check your state's bankruptcy laws. You can do this by searching the National Bankruptcy Forum's Consumer Laws by State section. To qualify for ...