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Bankruptcies.(Fresh Business)

Chapter 7--Straight bankruptcy; debtor gives up non-exempt property and debts are discharged.

Chapter 11--Business reorganization; protection from creditors while business devises a plan of reorganization. Income/expense reports must be filed monthly.

Chapter 12--Essentially a Chapter II for family farms. Farm operates but debt load is adjusted.

Chapter 13--Plan is devised by the individual to pay a percentage of debt based on ability to pay. All disposable income must be used to pay debts.

Chapter 7

Donna Katharina Snook,

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