A business or individual has filed for bankruptcy and owes ...
Chapter 7: Often called the liquidation chapter, a chapter 7 case filing is used by individuals, partnerships, or corporations who have no hope for repairing their financial situation. In chapter 7 asset cases, the debtor's estate is liquidated under the rules of the bankruptcy code. Liquidation is the process through which the debtor's non-exempt property is sold for cash by a trustee and the ... ................
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