Bankruptcy

Bankruptcy

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. Bankrupt is not the only legal status that an insolvent person may have, meaning the term bankruptcy is not a synonym for insolvency.

Data Source : Wikipedia

• Related Topics:  Bankruptcy Category, Bankruptcy Act - Bankruptcy Act Is A Stock Short Title Used For Legislation In Australia, Hong Kong, Malaysia, The Republic Of Ireland, The United Kingdom And The United States Relating To Bankruptcy., Bankruptcy Alternatives - Bankruptcy Is A Legally Declared Inability Or Impairment Of Ability Of An Individual Or Organization To Pay Their Creditors. In Most Cases Personal Bankruptcy Is Initiated By The Bankrupt Individual., Creditor's Rights - Creditor's Rights Are The Procedural Provisions Designed To Protect The Ability Of Creditors—Persons Who Are Owed Money—To Collect The Money That They Are Owed., Debt Consolidation - Debt Consolidation Is A Form Of Debt Refinancing That Entails Taking Out One Loan To Pay Off Many Others., Debt Relief - Debt Relief Or Debt Cancellation Or Debt Jubilee Is The Partial Or Total Forgiveness Of Debt, Or The Slowing Or Stopping Of Debt Growth, Owed By Individuals, Corporations, Or Nations., Debt Restructuring - Debt Restructuring Is A Process That Allows A Private Or Public Company Or A Sovereign Entity Facing Cash Flow Problems And Financial Distress To Reduce And Renegotiate Its Delinquent Debts To Improve Or Restore Liquidity So That It Can Continue Its Operations., Personal Financial Problems