What is Bankruptcy

On April 30, 2015, Posted by , In Bankruptcy,Insolvency,Liquidation, By ,,,, , With Comments Off on What is Bankruptcy

What is Bankruptcy?  When a person cannot pay their debts they are called a debtor.  The person that the debtor owes the debt to is called a creditor. A debtor and a creditor can both file petitions forcing the debtor into bankruptcy, the debtor with a debtor’s petition and a…