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If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. However, the process of going through Chapter7 can be complicated and stressful to ensure you can keep what you need to continue living your life even after bankruptcy.
Quick Summary: Healthcare-related debts such as medical bills become dischargeable through bankruptcy (Chapter7 and 13). Chapter7 offers discharge for eligible medical bills. But it can involve assetliquidation, and the discharge is independent of such sales.
In this article, we will explore the types of unsecured debts that bankruptcy can erase. Quick Summary: Filing for bankruptcy stops all debt collection right away through the automatic stay. The court assigns a trustee to review your case and handle your assets. When you file for bankruptcy, you enter a legal process.
There are three types of bankruptcy relevant to businesses: Chapter7: LiquidationChapter7bankruptcy is often called liquidationbankruptcy. This type of bankruptcy is often chosen when a business needs to close its doors. Creditors must cease all attempts to collect debts.
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