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What Assets Do You Lose in Chapter 7?

Sawin & Shea

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. What Is Chapter 7 Bankruptcy?

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

You should get legal assistance from a knowledgeable bankruptcy attorney in Denver. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Chapter 7 (Liquidation). Creditors are prohibited from contacting you after your petition is filed.

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Dealing With Debt From COVID-19

Debt Free Colorado

Either way, you should speak with an experienced debt relief attorney about strategies for dealing with unsecured creditors. This is fairly easy to accomplish with federal student loans, and because the federal government is working to waive interest on these loans, it won’t wind up costing you much in the long run.