My LLC has @ $20,000 bnk accts My pers chkg acct. is funded by a $1600 soc sec auto dep/mo. ? (only income) My Assets = joint Home mkt val $550K (was in forclosure.. now re-finan'd. Mortg $100K (1st) + $300k(2nd) My CC Debt $50K w/one (CitiBk) has just filed motion for Summ Fin Judg't. on 10/16/12 in 15th Circ. for $14,000......(wife has Sub S @75k/yr & separate cc debt)
Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.
There are different types of debt, but all involve one person (the debtor) owing money to another (the creditor). Terms of repayment are governed by a contract.
by attorney David Slepkow
Does Rhode Island have a statute direcly pertianing to Marital Debt? Rhode Island has no specific statute related directly to assigning Marital Debt... more
by attorney Marie White