Remove Asset liquidation Remove Debtor Remove Garnishment Remove Loans
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What Can I Keep if I File For Chapter 7 Bankruptcy?

Sawin & Shea

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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What Happens if You Ignore Debt Collectors?

Taurus Collect

Creditors may take legal action to recover the debt, which might result in wage garnishment or a lien against your property. Persistent Contact: Debt collectors may contact debtors through phone calls, emails, letters, or even personal visits. Legal Actions: Ignoring debt collectors can potentially lead to lawsuits.