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Chapter seven is really a "liquidation" bankruptcy that enables filers to keep some but not all residence. Assets which can be shielded or "exempted" are primarily items wanted to maintain a family and work and frequently don't contain a significant-worth, profit-building business.There’s no lawful difference between particular assets and busines
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The downside? A filer with a sizable estate could shed house in Chapter 7—including the real business if It really is a firm with precious belongings plus the trustee was capable of finding a willing customer.Our regulation company handles bankruptcy conditions for both equally people and business house owners. You are able to get the job done by