This chapter of the Bankruptcy
Code provides for “liquidation” – the sale of a debtor’s nonexempt property and
the distribution of the proceeds to creditors.
The
most ubiquitous form of bankruptcy is chapter 7.
It compiles at least 65% of all bankruptcies. This procedure is usually called
liquidation. Chapter 7 bankruptcy is specifically structured to allow the
debtor to eliminate almost all of his or her debts and get a “fresh start.” Read More
No comments:
Post a Comment