Definition of Chapter 7 in US English:

Chapter 7

noun

Protection from creditors granted to individuals or companies who legally file for bankruptcy, providing for liquidation of certain assets to pay debts.
Example sentencesExamples
- On Monday, he had decided to file for Chapter 7 at the end of the week.
- Individuals who file under Chapter 7 now will still be able to use the old rules, which is why there's been a rush to the courthouse.
- They hired a bankruptcy lawyer and filed for Chapter 7, freeing them from debt but eviscerating their credit for seven to ten years.
- Under Chapter 7, a trustee is appointed by the court to liquidate a debtor's assets.
- Most select Chapter 7, the version that allows them to sell assets to pay off creditors.

Origin

With allusion to Chapter 7 of the US bankruptcy code.

Definition of Chapter 7 in US English:

Chapter 7

noun

Protection from creditors granted to individuals or companies who legally file for bankruptcy, providing for liquidation of certain assets to pay debts.
Example sentencesExamples
- On Monday, he had decided to file for Chapter 7 at the end of the week.
- Individuals who file under Chapter 7 now will still be able to use the old rules, which is why there's been a rush to the courthouse.
- They hired a bankruptcy lawyer and filed for Chapter 7, freeing them from debt but eviscerating their credit for seven to ten years.
- Under Chapter 7, a trustee is appointed by the court to liquidate a debtor's assets.
- Most select Chapter 7, the version that allows them to sell assets to pay off creditors.

Origin

With allusion to Chapter 7 of the US bankruptcy code.

词汇	Chapter 7
释义	Definition of Chapter 7 in US English: Chapter 7 noun US Protection from creditors granted to individuals or companies who legally file for bankruptcy, providing for liquidation of certain assets to pay debts. Example sentencesExamples On Monday, he had decided to file for Chapter 7 at the end of the week. Individuals who file under Chapter 7 now will still be able to use the old rules, which is why there's been a rush to the courthouse. They hired a bankruptcy lawyer and filed for Chapter 7, freeing them from debt but eviscerating their credit for seven to ten years. Under Chapter 7, a trustee is appointed by the court to liquidate a debtor's assets. Most select Chapter 7, the version that allows them to sell assets to pay off creditors. Origin With allusion to Chapter 7 of the US bankruptcy code. Definition of Chapter 7 in US English: Chapter 7 noun US Protection from creditors granted to individuals or companies who legally file for bankruptcy, providing for liquidation of certain assets to pay debts. Example sentencesExamples On Monday, he had decided to file for Chapter 7 at the end of the week. Individuals who file under Chapter 7 now will still be able to use the old rules, which is why there's been a rush to the courthouse. They hired a bankruptcy lawyer and filed for Chapter 7, freeing them from debt but eviscerating their credit for seven to ten years. Under Chapter 7, a trustee is appointed by the court to liquidate a debtor's assets. Most select Chapter 7, the version that allows them to sell assets to pay off creditors. Origin With allusion to Chapter 7 of the US bankruptcy code.
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