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Question for the Money Doctors

Question submitted on Nov 7, 2022.


What is the 363 Ruling regards to bankrupt


This question can certainly be answered by a bankruptcy lawyer.   Section 363(b) authorizes a bankruptcy trustee or chapter 11 debtor-in-possession (DIP) to use, sell, or lease estate property other than in the ordinary course of business only after court approval.  To obtain such approval, a trustee or DIP must first provide notice to stakeholders and an opportunity for a hearing.

However, I can talk about avoiding bankruptcy.

If you are going to file bankruptcy, that has to be a last resort move.  You are giving up your control of your financial matters and putting it in the hands of a trustee or DIP.  You may or may not agree with what they are doing.

Take control of your debt situation and work with your creditors.   Control your spending.

Good luck!

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