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Non-Consumer Bankruptcy

Definition - What does Non-Consumer Bankruptcy mean?

A non-consumer bankruptcy is one that includes consumer and non-consumer types of debts in its proceedings. In a normal bankruptcy, only consumer debts can be wiped off. A non-consumer bankruptcy is a special consideration that is given only in cases of extreme circumstances.

Justipedia explains Non-Consumer Bankruptcy

For the purposes of bankruptcy, debts are classified either as consumer or non-consumer. Non-consumer debts are those that arise from expenses other than the bankrupt person's spending, such as tax obligations, investment obligations or business debts. Consumer debts are also known as personal debts.

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