Filing A Petition For The Declaration Of Bankruptcy In The Us
Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. It begins by the filing of a petition by either the debtor or the creditors. Then, the assets of the person or entity is calculated and a portion of that is given to the creditors according to the order set by law. When the debtor is declared bankrupt, he will be released from his obligations. This gives the debtor a fresh start and also gives the creditor the chance Read more [...]