By Cara O'Neill , Attorney · University in the Pacific McGeorge Faculty of Legislation Timing your bankruptcy situation is crucial mainly because what you do before filing for bankruptcy could derail your situation. Should you've finished any of these things, it might be ideal to hold off or even avoid filing entirely:– Bankruptcy types that sup
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Chapter 7 is normally known as liquidation, meaning a trustee sells your non-exempt belongings, then makes use of The cash to pay debts. Chapter 13 is really a payment strategy, meaning the court docket and you concur on a payment intend to repay your debts. Chapter eleven deals with organization bankruptcy.The principle edge to this prepare is the