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Glossary: Chapter 7

By Bankruptcy Attorney on Nov 13, 2008 in Chapter 7 Bankruptcy, General Bankruptcy Information

CHAPTER 7: In a Chapter 7 bankruptcy case, a Debtor’s unsecured debts (usually credit cards, doctors’ bills and personal loans) are wiped out. Most people can keep their home, car and all of their belongings, but if you can’t bring your mortgage or car payments current quickly, you may lose your house or car.

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