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Until the bankruptcy court docket authorizes usually, a creditor may well not search for to collect a “shopper personal debt” from any specific who is liable along with the debtor. Purchaser debts are Those people incurred by a person mostly for a private, household, go to my blog or home purpose.
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Chapter eleven bankruptcy is not only for businesses. There are several men and women with sufficient particular assets to require a system that may take care of their distinctive problems.
Even though Chapter 11 bankruptcy is made for companies, it really is an option for some people also. When you have higher-end real original site assets, for instance a multimillion-dollar house, that you want to shield in the course of the bankruptcy approach, Chapter 11 may well provide you extra defense than Chapter thirteen and may be your only possibility to guard it.
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