If you can no longer pay off your debts, you can go bankrupt. A bankruptcy means that almost all your belongings will be seized and that these will be sold at a bankruptcy auction by the bankruptcy trustee. When do you go bankrupt? A bankruptcy is pronounced if you ( more… )
When a person or company is unable to make payments to creditors to pay their debts, they can file for bankruptcy protection under the United States bankruptcy law. By an individual, bankruptcy protection can involve either a cancellation of most debts, along with the divestment of some of their assets, ( more… )
When it is time to declare bankruptcy, many Canadians decide not to do so. Although declaring bankruptcy provides long-term financial assistance, this method is linked to a bad stigma that can follow the individual throughout his life. According to the Office of the Superintendent of Bankruptcy Canada, 71,495 Canadians went ( more… )