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Chapter 7 Proceeding
A type of bankruptcy process in the United States that involves the liquidation of a debtor's assets to pay off creditors.
Trustee
An individual or organization appointed to manage and hold responsibility for managing the assets or property of another, often in a trust arrangement.
Voluntary Petition
A legal document filed by an individual or business entity to declare bankruptcy of their own accord.
Creditor's Claim
A demand for payment submitted by a creditor to a debtor, often as part of a bankruptcy proceeding or estate settlement.
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