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Two Basic Types of Consumer Bankruptcy

Two basic types of consumer bankruptcy cases are provided for under the Bankruptcy Code. The cases are traditionally given the names of the chapters that describe them. Chapter 7, entitled Liquidation, contemplates an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor's estate, reduces them to cash, and makes distributions [...]

By |2016-11-14T23:35:09+00:00August 15th, 2010|Bankruptcy Blog|0 Comments