Bankruptcy is a legal process that allows businesses and individuals to either eliminate most of their debts or repay the debts while being protected under the bankruptcy laws and the bankruptcy court. Many times, the courts divide bankruptcy into either
Once you choose to go forward with filing for personal bankruptcy, the legal process starts. You will have to fill out and submit various documents and remember to attend court dates while adhering to filing dates and fees. You will
The United States offers several different Chapters of bankruptcy. All of these different Chapters can make it very difficult for an individual to know which one he or she should file. Before you decide on the type of bankruptcy you want
When a person is contemplating bankruptcy, he or she is often unsure about the difference of Chapter 13 bankruptcy and Chapter 7 bankruptcy. Chapter 13 bankruptcy is the second most filed type of bankruptcy after Chapter 7. One of the differences
When a business is having difficulty meeting its obligations financially, the owner may choose to close the business. Courts consider this a Chapter 7 bankruptcy. However, there are other business owners who want their places of business to remain open.