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Free download what is bankruptcy 1
 Bankruptcy is the legal procedure that a person undergoes when he is unable to pay back his debts. It is a legal process that establishes that a person is no longer able to pay back his debts as promised, the result of which is that once the bankruptcy is discharged his creditors loose legal rights to try and recover the money or file a lawsuit in court regarding their claim.
However, this does not mean that the person filing for bankruptcy gets absolved of all responsibility to pay back their creditors. Depending upon the financial situation of the person the court might decide that either some of the assets of the person out to be absorbed to repay the lender's [Chapter 7] or a repayment plan is developed by the plaintiff and his attorney with the approval of the court to pay back the lenders in whatever manner possible.
That in short is what bankruptcy is all about.
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Recent Changes: NA
Install Support: No Install Support
Supported Languages: English
Additional Requirements: Windows
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