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In case you are a sole proprietor, you can incorporate each personal and business debts in the Chapter thirteen bankruptcy, similar to it is possible to in a very Chapter seven bankruptcy. A Chapter 13 bankruptcy might be your best option if the sole proprietorship has money.
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Nevertheless, not all assets beneath Chapter seven are liquidated — selected assets are exempt from sale proceedings and will stay with the debtor.
Even though this system is legal, it's a good idea to keep track of how you commit the money just in case a trustee inquires. Marke
Wealthy Law is often a business in Richmond, Virginia, helping clients in bankruptcy proceedings. Its attorneys offer direction during chapter seven and chapter thirteen filings, representing debtors as they try resolution with creditors.
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