Asset liquidation Chapter 13 bankruptcy Debtor 
Debt Free Colorado
JANUARY 20, 2024
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. Timing is crucial in bankruptcy.
Debt Free Colorado
OCTOBER 25, 2024
This type of bankruptcy is often chosen when a business needs to close its doors. Chapter 7 includes many different processes, including: Asset Liquidation: The business’s non-exempt assets are sold off to pay creditors. Discharge of Debts: After liquidation, any remaining unsecured debts are discharged.
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