Bankruptcy is a state achieved when an individual or a partnership has legally declared that they are unable to pay their creditors.
An alternative way of viewing it is as a way in which to deal with debts you are struggling to pay. It has both positive and negative consequences which must be carefully weighed up before a decision is made, which is why we have put together a group of pages which discuss all the options.
If you are wondering what it costs to declare yourself bankrupt, or what will happen to your assets, we have created a bank of information here to help you make the right decision.
Also, if you are a creditor wondering how to go about getting your money back, and what is involved, we also have articles here to help you.
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