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Category: Bankruptcy

Debt Discharge in a Chapter 7 Bankruptcy

chapter 7 bankruptcy

Chapter 7 bankruptcy offers debtors the fresh start that they need when they are struggling under a mountain of debt. If you successfully file for Chapter 7 bankruptcy, you could end up with many of your debts discharged. Not everyone qualifies for Chapter 7 bankruptcy. You must have an income below a certain amount to pass the means test….

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Options for Business Bankruptcy

business bankruptcy

Like consumers, business owners have two primary options when filing for bankruptcy. They can opt for a Chapter 7 bankruptcy, which is a liquidation of the business assets. Alternatively, they can choose a Chapter 11 bankruptcy, which is a restructuring that allows them time to pay their debts. In a Chapter 7 bankruptcy, it would mean the end of…

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What is a Debt Discharge in Bankruptcy?

Lynnwood Bankruptcy Attorney

If you are filing for bankruptcy, you have two different options, depending on your income level. In a Chapter 13 bankruptcy, you will be able to restructure your debt. In a Chapter 7 bankruptcy, you will be able to get a complete discharge of some of your debts. A discharge means that certain debts (for example, student loan debts…

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