Most bankruptcy cases are filed by the debtor himself. These are “voluntary” bankruptcies (although few would “volunteer” to be in this position).
Not all bankruptcy proceedings are voluntary, however. Under Chapters 7 and 11, creditors also have the option of filing for relief against the debtor, in which case the proceeding is called an “involuntary bankruptcy.”
Involuntary [...]
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Category Archives: Business Debts
Involuntary Bankruptcy
Can I do a SHORT SALE while I’m in Chapter 7 bankruptcy?
Really, there is no reason in the world to do a short sale. That’s where you sell the house to somebody for less than what is owed against the house.
The purpose of a short sale is to get you out of the property without you having to pay any mortgage deficiency. But since [...]