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Though Chapter 7 includes liquidating non-exempt belongings, debtors can continue to keep sure exempt belongings which vary by point out.
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That is dependent upon the sort of bankruptcy you qualify for. Using a Chapter seven bankruptcy, your property might be bought (besides Possibly your house and car), plus your creditors might be paid out off With all the proceeds.
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The bankruptcy courtroom will overview your data in addition to any challenges offered on the Conference of creditors. In case you are submitting Chapter 7, the bankruptcy court docket will ensure you go the Implies Test.
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