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Bankruptcy - United States Courts Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan Bankruptcy laws also protect financially troubled businesses This section explains the bankruptcy process and laws
Bankruptcy | California Courts | Self Help Guide What is bankruptcy? Bankruptcy is a legal process to help people who owe money, or debtors, get relief from debts they cannot pay and, at the same time, help people who are owed money, or creditors, get paid from assets property the debtor has
Bankruptcy - Wikipedia Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor
Bankruptcy Guide 2025: Chapter 7 vs. 13 Costs and Process - Nolo Bankruptcy works by legally breaking contracts between you and creditors, freeing you from paying many bills Chapter 7 bankruptcy eliminates qualifying debts in four to five months, whereas Chapter 13 creates a three- to five-year repayment plan that allows you to keep all property
What Is Bankruptcy? - FindLaw Not sure where to start with bankruptcy? FindLaw goes over bankruptcy 101 with the basics, process, terms, benefits, what to expect, laws, and more
bankruptcy | Wex | US Law | LII Legal Information Institute Bankruptcy 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