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5 questions to ask before filing for bankruptcy

Roths Child Law

For example, a Chapter 7 to another Chapter 7 bankruptcy typically has an 8-year wait time. Or, a Chapter 7 to a Chapter 13 bankruptcy may require people to wait 4 years. What is liquidation bankruptcy? Liquidation bankruptcy is another name for Chapter 7 bankruptcy.

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Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

Quick Summary: Healthcare-related debts such as medical bills become dischargeable through bankruptcy (Chapter 7 and 13). Chapter 7 offers discharge for eligible medical bills. But it can involve asset liquidation, and the discharge is independent of such sales. It usually takes a few months to complete.

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Colorado Business Bankruptcy: Get Help Now – Avoid Closure & Find Solutions

Debt Free Colorado

Chapter 11 allows businesses to reorganize their debts while continuing operations. Finally, Chapter 13 is a repayment plan for sole proprietorships. Bankruptcy also benefits businesses by providing an automatic stay, which stops creditors. What is Bankruptcy? The court and creditors must then approve this.