Bankruptcy

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Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most common type of bankruptcy petition filed in the United States.  It is used to liquidate a debtors assets and distribute them to the creditors as payment in full.  Except for obligations exempt from bankruptcy discharge, the debtor is absolved from further payment to the creditors.

Normally the entire process takes just a few months to complete from filing to liquidation to debt-free status.  A trustee is appointed by the court to liquidate the debtor's assets and distribute them to the creditors.  Debtors are allowed to retain some basic assets and may keep some secured assets while retaining the debt applicable to that asset.

 

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LaFlammeaposs Closes, Enters Chapter 7 Bankruptcy Bennington Banner
Bennington Banner LaFlamme39s closes, enters Chapter 7 bankruptcy Bennington Banner LaFlamme39s closes, enters Chapter 7 bankruptcy. LaFlamme39s Inc., a furniture business known for its 20 foot ladderback chair at its store at 239 Main St. in Bennington, entered Chapter 7 bankruptcy proceedings this week. Shown at the Main Street

Parker School Uniforms Files For Chapter 7 Bankruptcy Employees Sue Over Abru...
Houston Business Journal Parker School Uniforms files for Chapter 7 bankruptcy employees sue over abrupt closure Houston Business Journal Houston based Parker School Uniforms filed for Chapter 7 bankruptcy on Jan. 12, the same day that employees filed a lawsuit over the company39s abrupt closure earlier this month. The Chapter 7 petition lists both estimated assets and estimated

Kernersvilleaposs Coder Foundry Files For Chapter 7 Bankruptcy Triad Busine...
Triad Business Journal Kernersville39s Coder Foundry files for Chapter 7 bankruptcy Triad Business Journal Coder Foundry LLC, a school for computer programming in Kernersville, has filed for Chapter 7 bankruptcy. The Chapter 7 petition was filed on Dec. 22 in the U.S. Bankruptcy Court for the Middle District of North Carolina. Court documents show Coder Explo Oil Files for Chapter 7 Bankruptcy Daily Bankrupt Company Bankrupt Company News press release blog all 2 news articles raquo

South Arkansas Bankruptcies By County Public Records Magnoliareporter
Magnoliareporter South Arkansas bankruptcies by county Public Records Magnoliareporter South Arkansas bankruptcies by county for the week ended Tuesday, January 16, 2018, according to the United States District Bankruptcy Court for the Western District of Arkansas. and more raquo

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Facts of Law covering chapter 7 bankruptcy explained

Facts of Law - Bankruptcy Chapter 7