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Understanding Bankruptcy: How to File & Qualifications Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals and businesses who cant pay their bills and decide whether to discharge those debts so they are no longer legally required to pay them. Bankruptcy laws were written to give people whose finances collapsed, a chance to start over. Understanding Bankruptcy Understanding Bankruptcy - Get your life back on track with our free bankruptcy consultation. What you need to do just visit our site and fill simple form below. Understanding Bankruptcy United States Bankruptcy Court Understanding Bankruptcy. Bankruptcy is a set of federal laws and rules that can help individuals and businesses who owe more debt than they can pay. Each of the 94 federal judicial districts handles bankruptcy matters, and in almost all districts, bankruptcy cases are filed in the bankruptcy court. Bankruptcy cases cannot be filed in state court.
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