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Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debtconsolidation. Bankruptcy and debtconsolidation are distinct solutions, each with advantages and potential drawbacks. However, it’s important to remember that this does not eliminate debt.
You should get legal assistance from a knowledgeable bankruptcy attorney in Denver. The United States Bankruptcy Code governs both chapter7 and chapter 13 bankruptcy. Chapter7 (Liquidation). Advantages of Chapter7Bankruptcy. Disadvantages of Chapter7Bankruptcy.
However, we’ve provided some basic answers below to the question, “What is the difference between Chapter7, 11, and 13 when it comes to bankruptcy?” In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy?
Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter7 and Chapter 13 bankruptcy options.
File for BankruptcyBankruptcy is a legal process that allows you to eliminate some or all of your debts. In a Chapter7bankruptcy, also known as a liquidation bankruptcy, a trustee sells some of your assets and uses the proceeds to repay as much of your debt as possible.
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