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(see Maryland Exemptions) The trustee sells the belongings and pays you, the debtor, any sum exempted. The web proceeds from the liquidation are then dispersed in your creditors that has a commission taken from the trustee overseeing the distribution.
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Chapter seven entails advertising non-exempt assets to pay creditors. In most Chapter 7 circumstances, you will discover couple of or no assets remaining immediately after getting exemptions. Convey a list of your belongings to our first Assembly find here and I can assessment them.