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LutherTiggs

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LutherTiggs

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Wednesday, 09/28/2016 11:04:41 AM

Wednesday, September 28, 2016 11:04:41 AM

Post# of 30990
Chapter 7 vs. 11:

"The main difference between Chapter 7 and Chapter 11 bankruptcy is that under a Chapter 7 bankruptcy filing, the debtor's assets are sold off to pay the lenders (creditors) whereas in Chapter 11, the debtor negotiates with creditors to alter the terms of the loan without having to liquidate (sell off) assets."

Thanks Mullan and TJ...nice job the past 3 years.
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