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February 2018 Archives

How much equity in your home is exempt in Chapter 7 bankruptcy?

One of the most frightening things about filing for bankruptcy is the potential for your assets to end up liquidated by the courts to pay your debts. For those with lower incomes, who pass the state means test, Chapter 7 bankruptcy can offer relief from unsecured debts, including credit card debt and medical debts. However, the courts will look at your assets to see if you have the ability to repay some of those debts before granting a discharge.

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