Chapter 7 Overview: How #Chapter 7 #Bankruptcy Works
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Chapter 7 Overview: How #Chapter 7 #Bankruptcy Works
Chapter 7 bankruptcies are the most common form chosen by individual #consumers. In a Chapter 7, individual debtors liquidate their assets in order to be relieved of their debts. The Chapter 7 begins with the debtor’s filing of a petition with the bankruptcy court, which triggers the “automatic stay” – bankruptcy terminology for the ...
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