Glossary: Chapter 7

13 Nov Glossary: Chapter 7

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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