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Title : I Received A Notice of Possible Dividend, What Now?
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I Received A Notice of Possible Dividend, What Now?

The vast majority of Chapter 7 bankruptcy cases are no asset cases. This means that the person filing for bankruptcy protection does not own assets that cannot be protected and kept. California has two sets of exemptions that protect assets, or exempt them from the bankruptcy estate that is created when filing bankruptcy. But what if someone owns $75,000 in stock or bonds and has $150,000 in debt. There is no exemption to protect $75,000 in a normal stock trading account. If this person files for a Chapter 7 bankruptcy a portion of the stock can be protected depending upon the circumstances and the rest will be part of the bankruptcy estate to be paid to those who are owed money.

Chapter 7 Bankruptcy Attorney, Filing Bankruptcy, Chicago Bankruptcy Attorney,

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