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Bookmark or Share- What Is Bankruptcy? - NoloBankruptcy works as a safety net for individuals, families, and businesses by helping them get back on their feet financially when overwhelmed by debt. For many, filing bankruptcy is a natural step after an unexpected event like a job loss, illness, or divorce.
- bankruptcy | Wex | US Law | LII / Legal Information InstituteBankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt.
- 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.
- Bankruptcy: How It Works and Consequences - Debt.orgBankruptcy is a proceeding where a judge and court-appointed trustee examine the assets and liabilities of individuals, partnerships and businesses who’ve concluded they can’t pay their debts. Experts say it should be a last resort to settle your financial woes.
- What Happens When You File for Bankruptcy? - InvestopediaBankruptcy is a legal process for getting relief from debts that you cannot repay. If you file for personal bankruptcy, you generally have two options: Chapter 7 or Chapter 13. A Chapter 7...
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