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Each time a monetarily troubled small business is struggling to fork out creditors, the company may file (or be compelled by creditors to file) for bankruptcy inside of a federal court beneath Chapter 7, which means the small business ceases functions Except All those functions are ongoing because of the Chapter 7 trustee.The company, sagging below

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Because 2005, the bankruptcy code has needed a method examination to determine if a bankruptcy candidate satisfies The fundamental needs for the Chapter seven bankruptcy. The Chapter 7 usually means test compares your cash flow to your median earnings gained by workers with your condition. The median money varies from a person state to another, and

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