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Chapter 7 Bankruptcy
A legal process that allows individuals or businesses to discharge most of their debts under the bankruptcy code, liquidating assets to pay off creditors.
Cash Advance
An option that allows credit card holders to withdraw a certain amount of cash immediately, often at a high interest rate.
Discharge
The release or dismissal of a person from their duties, obligations, or a liability, such as in bankruptcy or employment.
Subprime Loan
A type of loan offered to individuals with poor credit scores or limited credit history, typically at higher interest rates due to perceived increased risk.
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