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What is Bankruptcy?

Bankruptcy refers to a legal process that can revolve around a business or individual unable to take care of their outstanding debts. You’d be surprised how common it is for debtors to file a petition for bankruptcy in the U.S. Ultimately, creditors review the assets of the debtor, and may just require a few assets to cover the outstanding debt.

Bankruptcy Examples

Examples of Bankruptcy include:

  • Example 1: Chapter 7 bankruptcy
  • Example 2: Chapter 11 bankruptcy
  • Example 3: Chapter 13 bankruptcy
  • Example 4: Chapter 9 bankruptcy
  • Example 5: Chapter 10 bankruptcy
  • Example 5: Chapter 12 bankruptcy

Here is a recommended article on bankruptcy.

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