Liquidation in a Chapter 7 Bankruptcy may seem like a scary thing, but it doesn’t need to be. If you’re considering filing for bankruptcy, you may have a lot of concerns about the process. Chapter 7 bankruptcy, often referred to as a “liquidation” bankruptcy, is designed to help you deal with overwhelming debt. Essentially, it allows you to wipe out…
What is a Liquidation in Chapter 7 Bankruptcy and What Property is Exempt from Liquidation?
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