Examlex
Which of the following is a form of tax payable to local authorities?
Chapter 7
A provision of the bankruptcy code in the United States that provides for "liquidation," whereby a debtor's non-exempt assets are sold and the proceeds are used to pay creditors.
Automatic Stay
A self-operating postponement of collection proceedings against a debtor who has filed a petition for bankruptcy.
Collection Proceedings
The legal process initiated by creditors to recover money owed by a debtor.
Means Test
Three steps used to qualify someone for Chapter 7 bankruptcy.
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