Bankruptcy Attorney Fort Lauderdale FL Options
Unsecured debts frequently are waived when the bankruptcy submitting is approved, plus a trustee will probably be to blame for providing your personal home to repay secured debts, for instance a car. The method normally will take 3 to 5 months.
Chapter seven bankruptcy, generally known as "liquidation," is the most common type of personal bankruptcy used by folks and married couples. Chapter 7 makes it possible for qualified debtors to surrender selected "non-exempt assets" towards the bankruptcy trustee assigned to oversee their situation.
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In fact, Chapter 7 debtors not often have nearly anything of benefit to offer to your trustee. It's because their residence is previously collateral for that secured claim of the creditor, of no important worth to any person else, or designated exempt and shielded why not try this out from the claims of any creditor.
Chapter 7 is often often called the liquidation bankruptcy since the trustee will get to provide the entire property in the non-exempt bucket and the proceeds with the sale Visit the creditors you stated with your bankruptcy schedules.
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