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What is a chapter 7 bankruptcy?

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โˆ™ 2010-01-25 11:31:35

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A Chapter 7 bankruptcy is a "straight bankruptcy" where the assets are liquidated. This differs from Chapter 11 and Chapter 13 bankruptcies, where the company is reorganized. For more information see the related link.

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โˆ™ 2010-01-25 11:31:35
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Q: What is a chapter 7 bankruptcy?
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Related questions

Can an individual dismissed from Chapter 13 bankruptcy refile for bankruptcy?

You can file a Chapter 7 bankruptcy.


Chapter 7 limits?

what are the chapter 7 limits for bankruptcy?


Can you protect a structured settlement in a chapter 7 bankruptcy?

Yes you can protect it under chapter 7 bankruptcy


When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?

The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.


How long does it take after a bankruptcy is discharged to show on your credit report?

The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.


Can you keep your cars in a chapter 7 bankruptcy?

Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off your current debt.


In Kentucky How long after bankruptcy can you file chapter 7 and can you file chapter 13 after chapter 7?

You can file bankruptcy again 7 years after the last time you filed.


When can you file a chapter 7 bankruptcy again if you filed a chapter 7 in 2000 under old bankruptcy laws?

2008


After Chapter 7 bankruptcy has been Discharge can buy a home?

After Chapter 7 bankruptcy has been Discharge can buy a home


In a Chapter 7 bankruptcy a person filing for relief is called a?

In a Chapter 7 bankruptcy, a person filing for relief is called a


If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?

Yes.


Does income count AFTER you file chapter 7 bankruptcy?

A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.

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