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Also, it's identified as "liquidation bankruptcy" since the Chapter seven trustee appointed to manage the case sells the debtor's property for the benefit of creditors. In a person bankruptcy, the trustee sells the filer's nonexempt luxurious house, so losing such things as sporting equipment, gun collections, boats, leisure automobiles, and rental

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When you file the bankruptcy petition, an “automatic continue to be” goes into influence, except in unusual instances. The “computerized continue to be” stops most personal debt-collection initiatives from you. On the other hand, occasionally, the bankruptcy court docket can grant the creditor authorization to go after collection things to

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