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Bankruptcy Terminology

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NO-ASSET CASE

A chapter 7 case where there are no assets available to satisfy any portion of the creditors’ unsecured claims.

 

NONDISCHARGEABLE DEBT

A debt that cannot be eliminated in bankruptcy.

 

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A decision about personal bankruptcy can affect your life for the next 10 years. Be informed and take some time to educate yourself about this very important step in your financial life.

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