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What is chapter 7 - opportunities?
Chapter 7 of the bankruptcy code allows individuals and businesses to liquidate their assets to pay off creditors.
Who is required to file chapter 7 - opportunities?
Individuals or businesses who are unable to pay off their debts are required to file for Chapter 7 bankruptcy.
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To file for Chapter 7 bankruptcy, individuals or businesses must complete and submit a petition, schedules, and other required forms to the bankruptcy court.
What is the purpose of chapter 7 - opportunities?
The purpose of Chapter 7 bankruptcy is to give debtors a fresh start by liquidating their assets to pay off creditors and discharge most of their debts.
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Debtors must report their income, assets, debts, and expenses on their Chapter 7 bankruptcy forms.
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