Sentences with phrase «liquidates qualifying assets»
Not exact matches
Chapter 13 can be pursued if you don't qualify for Chapter 7 or you don't want to liquidate non-exempt assets.
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Chapter 7 Bankruptcy is considered a liquidation bankruptcy and nonexempt assets are generally liquidated and qualifying unsecured debts are discharged.
Chapter 7 bankruptcy is called a liquidation bankruptcy because it allows a court - appointed bankruptcy trustee to be appointed to your case, gather your nonexempt assets, and liquidate them to repay your qualifying creditors.
A person may decide they would be better off if they had Medicaid but in order to qualify, they need to liquidate their assets.