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Chapter 7 is the chapter of the Bankruptcy Code which supplies for liquidation of the debtor’s property, and that is the sale of the debtor’s a fantastic read non-exempt home plus the distribution from the proceeds to creditors.

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Submitting payment plan: In just fourteen days of submitting the petition, you have to submit a proposed payment approach. You should get started producing payments over the program in just 30 days of filing browse around here the petition, although it hasn’t been authorized still.

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You or maybe the trustee will file a published objection to your creditor's declare should you have a cause to object. You will need to file it right away to provide the creditor the correct discover.