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Chapter 7
A provision under the U.S. Bankruptcy Code dealing with the process of liquidation, where a debtor's assets are sold off to pay creditors.
Debtor's Estate
The total assets and liabilities of a debtor that are considered in the event of bankruptcy or for satisfying debts.
Creditors
Individuals or institutions to whom money is owed by debtors.
Unsecured Creditors
Creditors that lend money without taking collateral, meaning they do not have a claim on specific assets of the borrower in case of default.
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