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Chapter 7 Proceeding
A Chapter 7 Proceeding refers to a bankruptcy process outlined in the United States Bankruptcy Code where a debtor's assets are liquidated to repay creditors.
Bankruptcy Petition
A legal document filed by an individual or entity declaring the inability to pay outstanding debts, seeking relief under bankruptcy laws.
Creditors
Individuals or entities to whom money is owed by debtors.
Legal Actions
Formal steps taken within the judicial system, such as filing lawsuits or other court proceedings, to enforce or protect legal rights.
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