By Jeff Field | Published April 15, 2023 | Posted in Bankruptcy, Chapter 7, Uncategorized | Tagged Tags: bankruptcy exemptions, nonexempt assets in bankruptcy, trustee abandonment | Leave a comment
In a Chapter 7 bankruptcy, the appointed trustee collects and sells part of the debtor’s assets and then distributes the proceeds to creditors. However, Chapter 7 debtors are not left entirely destitute. Assets that the debtor is allowed to keep are called exempt property. In addition, a Chapter 7 debtor may be allowed to keep Read MoreRead More
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