Bankruptcy is the legal process where persons declare that they are unable to pay their debts and request relief from the court. There are two basic purposes of bankruptcy: to give the debtor a fresh start and to repay creditors […]read more»
Yes, but some restrictions do apply. In 2005, the Bankruptcy Code was amended to impose additional requirements on anyone wishing to file a bankruptcy case. The new law now requires that debtors perform a “means test” to determine whether or […]read more»
Whether bankruptcy is an option for you depends very much on your particular financial circumstances and what you hope to accomplish. You should consider first whether bankruptcy will “discharge” (i.e. release you from liability) enough of your debts. Debts that […]read more»
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