With the assistance of the court docket, you and your creditors will style and design a repayment prepare that lasts from a few to 5 years. After the choose approves your proposal, you will ship every month payments to some court docket-appointed trustee. They will acquire and distribute y

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Many of us can exempt all their property in Chapter seven bankruptcy—although not generally. The Chapter seven trustee can sell or liquidate nonexempt property to pay creditors. Generally, you won't be able to exempt unnecessary luxurious products, like a flashy automobile or boa

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