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

Debt Free Colorado

Creditors are prohibited from contacting you after your petition is filed. While bankruptcy law forces you to sell some assets to repay unsecured creditors, the majority of Americans keep all of their property because of bankruptcy limits on the categories of assets that may be used to settle debts. medical debt .

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What Assets Do You Lose in Chapter 7?

Sawin & Shea

To fully gauge what you may lose, it’s best to get in touch with a bankruptcy attorney who can give advice and guidance as you undergo your bankruptcy filing to discuss your personal assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC. Indiana’s median income changes from year to year.