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LegalCornerTM - Bankruptcy Basic Facts F.A.Q.'s

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Q.Can I choose which creditors to pay?

A.No. When you file for bankruptcy you do not get to pick and choose which creditors get paid. When you file for bankruptcy, you must list all your creditors and all your debts, excluding daily necessities. After you have filed for bankruptcy, your creditors will be notified and they will select a bankruptcy trustee. The trustee have the responsibility to either liquidate your assets and distribute the proceeds to your creditors, or collect payments from you under a payment plan.




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