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Chapter 7
A type of bankruptcy under U.S. law that involves liquidating a debtor's assets to repay creditors.
Chapter 11
A provision of the United States Bankruptcy Code that allows businesses to reorganize their debts and continue operating.
Chapter 13
A section of the U.S. bankruptcy code allowing individuals earning regular income to develop a plan to repay all or part of their debts.
Debtor
An individual or entity that owes money to another entity, known as the creditor.
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