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Home - bankruptcy bankruptcyBankruptcy is when a person or business is unable to pay consumer or business debts when they become due. A person in bankruptcy's will have his assets handed over to a trustee for reimbursment for creditors,when in bankruptcy they are forbidden by law from certain business activities, such as being a company director.you can get a legal discharge from bankruptcy by repaying limited portion of your debts.the United States bankruptcy code allows the indivduals to avoid full-scale bankruptcy by reorganizing thier finance Bankruptcy practices are different from country to country.
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