Chapter 7 bankruptcy is frequently known as “liquidation” bankruptcy. Men and women usually decide on this chapter when they don't have sufficient profits to repay their debts. Most debts in Chapter seven are eliminated and fully discharged.
No two bankruptcies are alike
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Timing and Pro-Rata Share: In the event you file for bankruptcy prior to obtaining a tax refund, the trustee may assert a professional-rata share in the refund.
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When you file for bankruptcy in Florida, your property come to be A part of the bankruptcy estate, which can be overseen by a trustee appointed through the court docket. The trustee's position would be to liquidate non-exempt assets in Chapter seven bankruptcy or develop a repayment sy
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You may’t discharge all debts via bankruptcy. You will discover particular forms of personal debt whic