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Prepetition Assets
Assets that a debtor owned before filing for bankruptcy protection.
Bankruptcy Estate
The assets that are collected from a debtor who files for bankruptcy.
Bankruptcy Remedies
Legal measures available to individuals or businesses that are unable to repay their debts, providing a way to resolve insolvency issues.
Chapter 7 Bankruptcy
A provision of the bankruptcy code that allows for the liquidation of a debtor's assets to pay off creditors; often referred to as straight or liquidation bankruptcy.
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