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Bookmark or Share- Bankruptcy Basics | United States CourtsBankruptcy Basics provides basic information to debtors, creditors, court personnel, the media, and the general public on different aspects of federal bankruptcy law. It also provides individuals who may be considering filing a bankruptcy petition with a basic explanation of the different chapters under which a bankruptcy case may be filed and answers to some of the most commonly asked questions about the bankruptcy process.
- What Is Bankruptcy? - The BalanceBankruptcy is a process that gives you a legal means of starting over financially when you can't afford to pay your debts. Depending on which type you file, the bankruptcy court decides how creditors will be paid; it can also collect and sell your assets and belongings or create a repayment plan.
- Bankruptcy: What is it, How to File & Who Qualifies - Debt.orgWhat Is Bankruptcy? Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals, partnerships, and businesses whose debts have become so overwhelming they don’t believe they can pay them. The court decides whether to discharge the debts.
- Bankruptcy Explained: Types and How It Works - InvestopediaBankruptcy is a legal proceeding initiated when a person or business is unable to repay outstanding debts or obligations. The bankruptcy process begins with a petition filed by the debtor,...
- Bankruptcy | United States CourtsFiling bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code.
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