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What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a legal option to discharge unsecured debt and completely regain control of your finances. It is often called “liquidation” or “straight” bankruptcy because all non-exempt possessions or assets must be sold to repay your creditors, and there are no drawn-out repayment plans. A large percentage are filed as “no asset” cases,…

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Libor Rate

Libor Rate-Rigging Scandal Sets Off Legal Fights for Restitution – NYTimes.com: Rate Scandal Stirs Scramble for Damages Most consumer mortgages in the sub-prime market were linked to the Libor at adjustment but due to this conduct remain at a lower rate.  So the investor in sub-prime mortgages lost while the borrower benefited. Presumably the tax payers that…

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