chapter 7 bankruptcy for Dummies



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A Chapter 7 bankruptcy will commonly discharge your unsecured debts, such as bank card credit card debt, clinical charges and unsecured personal financial loans. The court docket will discharge these debts at the conclusion of the procedure, normally about four to six months soon after you start.

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[seven] If the new residency necessity would render the debtor ineligible for any exemption, then the debtor can choose the federal exemptions.

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Remember that the keep will probably be momentary In regards to foreclosure, repossession, and evictions in Chapter 7. A Chapter seven bankruptcy does not have a mechanism to fix People complications.

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