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Because collection pursuits of creditors, together with wage garnishment, financial institution levy, foreclosure, debt selection phone calls and lawsuits, all should halt the moment the chapter seven bankruptcy is filed While using the bankruptcy court docket.
So, when they say You need
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Also, unlike Chapter thirteen, Chapter 7 has no payment prepare option for catching up on late home finance loan or vehicle payments. So you might shed your private home or car or truck should you be driving around the mortgage if you file.
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