What You Should Know About Chapter 7 Bankruptcy
Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” offers individuals and businesses a fresh start by discharging most unsecured debts. Under Chapter 7 bankruptcy, a court-appointed trustee is responsible for liquidating non-exempt assets to repay creditors, with certain exemptions protecting essential assets such as a primary residence, vehicle, and personal belongings. One key aspect […]
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