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Bankruptcy

THE INCIDENCE AND CAUSES OF PERSONAL BANKRUPTCY

THE INCIDENCE AND CAUSES OF PERSONAL BANKRUPTCY

Bankruptcy is a legal process enabling people with unmanageable debt to obtain a release from their obligations, and start afresh after a period of three years. The earliest English bankruptcy laws were enacted in 1542 and were essentially punitive in nature. The Act Against Such Persons As Do Make Bankrupts …

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FILING A BANKRUPTCY

FILING A BANKRUPTCY

Bankruptcy is a drastic step. A successfully completed Chapter 7 bankruptcy can wipe out most debts. On the other hand, a person can usually file a Chapter 7 only once every 8 years. The fact that you filed for bankruptcy can stay on your credit history for up to 10 …

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Bankruptcy Notice

Bankruptcy Notice

1. Requirements of a bankruptcy notice A bankruptcy notice is a demand for payment of money by a creditor from a debtor. A creditor is someone who is owed money. A debtor is someone who owes money. A bankruptcy notice is usually issued because a creditor has obtained a court …

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