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What areas are included in calculating detailed turnover costs?
Chapter 7
A section of U.S. bankruptcy law under which a debtor's assets are liquidated and proceeds distributed to creditors.
Unsecured Creditor
A creditor that extends credit without requiring specific collateral, bearing higher risk if the borrower defaults.
Claim
A demand for something due or believed to be due, typically a request for payment in accordance with an insurance policy or other formal agreement.
Involuntary Petition
A legal process initiated by creditors requesting a court to declare a debtor bankrupt when the debtor hasn't voluntarily filed for bankruptcy.
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