Tag Archives: Chapter 7

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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