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When a bankruptcy case is filed…

When a Bankruptcy case is filed, section 541 of the Bankruptcy Code provides that all the debtor’s legal and equitable interests become assets of the bankruptcy estate.  Commencement of a bankruptcy case creates an “estate”.  Put simply, your stuff isn’t yours anymore; it belongs to the bankruptcy estate.  Generally, your creditors must look to the […]

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This post first appeared on Bankruptcy | Hoglund, Chwialkowski & Mrozik, PLLC, please read the originial post: here

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When a bankruptcy case is filed…

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