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What Is Chapter 7 Bankruptcy?

by bk711 on 10. Sep, 2010 in Chapter 7

Simply stated filing bankruptcy is a legal way to eliminate or reduce your bills. Bankruptcy is referred to in the Bible and was included in The United States Constitution. Our economy would break down if individuals and companies were unable to eliminate debt under appropriate conditions. The federal court system is exclusively used for bankruptcy [...]

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How to File for Bankruptcy

by Jeff Wellington on 19. Nov, 2009 in Bankruptcy, Chapter 13, Chapter 7

Bankruptcy is a drastic way to protect yourself against creditors. For some people, filing for bankruptcy is a hard pill to swallow when they consider themselves to be responsible and efficient individuals. You should remember though that bankruptcy is designed to give you a fresh start in life so don’t hesitate to take advantage of [...]

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Bankruptcy Chapter 7 Information

by Jeff Wellington on 11. Nov, 2009 in Chapter 7

Chapter 7 Bankruptcy, sometimes called a fresh start, is a liquidation proceeding for both individuals or businesses hopelessly mired in debt and possibly facing foreclosure. All non-exempt property of the debtor is turned over to the bankruptcy trustee. If there are substantial assets the trustee converts those to cash and distributes it to the debtor’s [...]

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