After defrauding multiple local community members, husband and wife Mandeep Singh and Jaspreet Kaur filed Chapter 7 bankruptcy, seeking protection from over 50 creditors. Often called the ‘liquidation chapter,’ Chapter 7 is used by individuals, partnerships, or corporations who have no hope for repairing their financial situation, according to the US Bankruptcy Court. In Chapter 7, the debtor’s estate is liquidated under the rules of the Bankruptcy Code. Liquidation is the process through which the debtor’s non-exempt property is sold for cash by a trustee and the cash is distributed … Continue reading Mandeep Singh and Jaspreet Kaur Files Bankruptcy. Required Financials Filed.