Debt and Bankruptcy

Excess debt and the inability to repay creditors can lead to bankruptcy and insolvency at the personal, business and national levels. The financial crisis has brought record numbers of individuals, companies and countries to the brink of bankruptcy. National laws and regulations handle bankruptcy through loan forgiveness and debt restructuring … Keep Reading → programs. In the US, most personal bankruptcies are filed as Chapter 7 or Chapter 13 under the Bankruptcy Code. US corporations usually file under Chapter 7 or Chapter 11. Financial literacy and learning how to manage debt and personal finances prevents declarations of bankruptcy. Getting good financial advice and understanding debt obligations is crucial in today’s world of easy credit cards. Explore the world of credit, debt and bankruptcy in this information Hub.

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