________ is a form of bankruptcy in which the debtor's nonexempt property is sold for cash, the cash is distributed to the creditors, and any unpaid debts are discharged.

Question

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Liquidation bankruptcy, also known as Chapter 7 bankruptcy, requires the debtor's nonexempt assets to be sold to repay creditors. Any remaining unpaid debts are then discharged, allowing the debtor a fresh start financially.

________ Is a Form of Bankruptcy in Which the Debtor's