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Understanding Bankruptcy: A Fresh Start for Those in Debt Bankruptcy is a legal process designed to help individuals and businesses overwhelmed by debt. It allows for debt reorganization or elimination under federal law, offering a path to financial recovery. Types of BankruptcyChapter 7: Known as “liquidation” bankruptcy, where non-exempt assets are sold to pay creditors,…

The attorney who works with you will make sure that you completely understand all of the options available to you.

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