What is Bankruptcy?

When an individual or an entity is unable to repay its debts, they may declare bankruptcy.

A court is usually involved in the mediation process after a bankruptcy is declared.

After the lender files a lawsuit against the borrower due to non-payment, the court considers the individual or company bankrupt.

What is Bankruptcy?
What is Bankruptcy?

Post Disclaimer

Information provided on this website is for Educational & Informational purposes only and is not considered to be advice or recommendation of any kind whatsoever. Anyone who wishes to apply the concept & ideas contained in this shall take full responsibility. Readers should always do their own diligence on any information perceived from this site to form their own opinion and best judgments. Any action you take upon the information you find on this website (letsthinkwise.com), is strictly at your own risk.

Leave a Reply

Your email address will not be published.