What Can I Keep if I File For Chapter 7 Bankruptcy?
Sawin & Shea
SEPTEMBER 27, 2023
Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets. The Court can sell all nonexempt possessions and assets. Known as exempt assets, these are the things you may keep when you file for Chapter 7 bankruptcy.
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