Bankruptcy FAQs -Basics You Need To Know
Bankruptcy is a legal proceeding that allows an individual or company, who are unable or partially unable to pay outstanding debts, to rid themselves of these debts and obtain a fresh start. Bankruptcy law allows a debtor to eliminate debt and to stop creditor harassment.
What are the different types of bankruptcy?
The Bankruptcy Code provides for six different types of bankruptcy, each known by the chapter in the Bankruptcy Code in which it is located. Although they differ in form and procedure, they all provide for permanent relief from certain debts. In bankruptcy terms, the debtor’s dischargeable debts are discharged. Most debtors file for bankruptcy under Chapters 7, 11, and 13. To know more click here
Benefits of Virtual Bankruptcy Paralegal 