This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
But it can involve assetliquidation, and the discharge is independent of such sales. That means the debtor is no longer legally obligated to repay these debts. To sum up the process of Chapter 7 bankruptcy : The bankruptcy trustee may liquidate non-exempt assets to repay creditors.
Unsecured debt is a type of debt that is not backed by collateral. Chapter 13 creates a 3-5 year payment plan that lets you keep assets, but you need steady income and must owe less than $465,275 in unsecured debt. These debts have no collateral, so creditors cannot take your property without going to court first.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Asset liquidation 
52 
Let's personalize your content