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For example, a Chapter 7 to another Chapter 7 bankruptcy typically has an 8-year wait time. Or, a Chapter 7 to a Chapter13bankruptcy may require people to wait 4 years. What is liquidationbankruptcy? Liquidationbankruptcy is another name for Chapter 7 bankruptcy.
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 assetliquidation, and the discharge is independent of such sales. Timing is crucial in bankruptcy.
Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. Some debts stay with you even after bankruptcy. Student loans, child support, recent taxes, and court fines must be paid in full. Chapter 7 bankruptcy remains on credit reports for 10 years.
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