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Chapter 7 bankruptcy is usually known as a liquidation bankruptcy While Chapter 13 bankruptcy is commonly known as a reorganization bankruptcy. People who have a regular money or make a lot more than a certain threshold may possibly only be eligible to file for Chapter 13 bankruptcy.The content exhibited from the Cylex Enterprise Directory consists
The debtor may perhaps rebut a presumption of abuse only by a exhibiting of Exclusive instances that justify extra bills or adjustments of recent every month profits.Unless of course the debtor overcomes the presumption of abuse, the situation will usually be transformed to chapter 13 (Along with the debtor’s consent) or is going to be dismissed.
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