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Many of the debts that drive business owners to file for bankruptcy can be discharged through a Chapter 7 personal bankruptcy. When a debt is “discharged” it means that you are no longer responsible for paying it once your bankruptcy case is complete. After the trustee sells your non-exempt assets (if you have any) and distributes the proceeds among your creditors, then the court discharges any amount that remains unpaid on the debts when your case ends.
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