Bankruptcy Basics

If you are considering filing for bankruptcy relief, you probably have many questions about whether it is the right choice for you, what bankruptcy can do, how bankruptcy will affect your property and debts, and how it compares to your other options.

Get the answers to the most commonly asked questions about bankruptcy. The topics on this page are organized into the following general categories:

1. What is Bankruptcy and how's it work?
2. How does it compare to other options?
3. What happens to my property?
4. What happens to my debt?
5. Will I need to hire a lawyer?

What exactly is bankruptcy?
Bankruptcy is a federal court process that allows debtors to wipe out or reorganize their debts under the supervision and protection of a bankruptcy court. Bankruptcy provides legal protection for struggling debtors who are unable to repay their obligations.

Download now Bankruptcy, find questions and answers about Bankruptcy.

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