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An Overview Of Chapter 7 Bankruptcy
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Chapter 7 bankruptcy is sometimes called "straight" bankruptcy. This bankruptcy cancels most of your debts; in exchange, you might have to surrender some of your property.
The whole Chapter 7 bankruptcy process usually takes three to six months, costs about $175 in filing fees, and commonly requires only one trip to the courthouse.
To file for ba ....
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.... can be sold or paid without the court's consent. You have control, however, with a few exceptions, of property and income you acquire after you file for bankruptcy.
The court exercises its control through a court-appointed person called a "bankruptcy trustee." The trustee is mostly interested in what you own and what property you claim as exempt. .... |
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