Bankruptcy is a legal proceeding that allows individuals and businesses to reorganize or dissolve their debts and assets when they are unable to pay them.
The process of bankruptcy typically begins with a petition to the court, followed by an investigation into the individual's or business's financial situation.
The benefits of bankruptcy include:
Bankruptcy is a complex process that can have far-reaching consequences for individuals and organizations. However, it can also provide a valuable opportunity for restructuring debts and starting anew.