Bankruptcy 101: What it is and how it can help

Bankruptcy is the process whereby the federal bankruptcy court either eliminates all consumer debt or approves a repayment plan proposed by the debtor. There are several different chapters of the bankruptcy code that allow for the discharge of debts. Which one works for you depends on
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Chapter 7 Bankruptcy

Chapter 7 bankruptcy is referred to in the Bankruptcy Code as liquidation bankruptcy. This is based on the authority of the bankruptcy court to sell your assets in order to pay your creditors. In reality, federal and state laws allow certain types of property to be exempt from a bankr
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