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

Debt Free Colorado

Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Additionally, not all unsecured debt is dischargeable under Chapter 7. The means test decides who can seek debt relief. medical debt .

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10 Common Questions About Bankruptcy

Debt Free Colorado

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. Those who are no longer able to pay their debts can, however, start over through a legal process. What Debts are Discharged in Bankruptcy? We recognize that you have many questions and that you want them all answered.

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SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY

BN Lawyers

For an unsecured creditor to obtain a recovery, it would need to engage in a months-long legal process to obtain a judgment that could be halted at any point by a chapter 11 bankruptcy reorganization. Secured creditors can foreclose on their collateral if they are not paid and have special rights in a reorganization proceeding.