Asset liquidation Creditors Unsecured Debt 
Debt Free Colorado
JANUARY 20, 2024
Quick Summary: Healthcare-related debts such as medical bills become dischargeable through bankruptcy (Chapter 7 and 13). But it can involve asset liquidation, and the discharge is independent of such sales. Chapter 13 entails a three to five-year repayment plan for gradual medical debt payment.
Debt Free Colorado
OCTOBER 25, 2024
Chapter 11 allows businesses to reorganize their debts while continuing operations. Bankruptcy also benefits businesses by providing an automatic stay, which stops creditors. It also offers the opportunity to reorganize debts and protection of personal assets. The court and creditors must then approve this.
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