Chapter 7

The chapter of the Bankruptcy Code providing for “liquidation,” i.e., the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.  Although this is the correct “textbook answer” the fact is that seldom is any property actually “liquidated” or sold, because most of our property is protected by laws called exemptions.

This entry was posted in . Bookmark the permalink.
Call Now!