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Exempt and nonexempt assets. You can preserve house safeguarded by an exemption or "exempt" property. Every time a bankruptcy exemption won't address the residence, you may both get rid of it in Chapter seven or really need to buy it from the Chapter thirteen repayment approach.The corporation extra that "there is certainly a around-phrase truth
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To qualify for Chapter 7 bankruptcy you must satisfy precise eligibility requirements, such as a "suggests take a look at." The goal of the exam is to avoid high-earnings earners from qualifying for Chapter 7.Bankruptcy is actually a qualification method. The guidelines give Directions for finishing a fifty- to 60-web site bankruptcy petition, and
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