The United States Bankruptcy Court - How it Works

Discussion in 'Bankruptcy' started by Bankruptcy, Sep 25, 2010.

  1. Bankruptcy

    Bankruptcy Guest

    The United States bankruptcy courts as establishes with an aim to help
    people who are unable to repay their creditors and give them a chance
    to make a new beginning.

    The U.S Bankruptcy Courts formulates ways and strives hard towards
    giving honest debtors a chance to begin afresh by cancelling their
    prior loan amounts or by reducing them. Bankruptcy Courts also work in
    the direction of protecting the troubled businesses by means of
    liquidation or reorganization. Most bankruptcy cases are to be filed
    under three important chapters under the Bankruptcy Code. There
    chapters are: Chapter 7, Chapter 11, and Chapter 13. However, Federal
    courts have an absolute jurisdiction over bankruptcy courts. This also
    means that a bankruptcy occurrence does not have to be filed in a
    state court.

    For more information, please visit:
    Bankruptcy, Sep 25, 2010
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  2. Bankruptcy


    Apr 11, 2011
    Likes Received:
    Please any one guide me, Is their any person who tell me, I have borrowed Rs. 200.000 from my partner, At the start of my business, What can I do now.. I can't repay him. So can he claim me as a Bankruptcy case...!
    Annabelle, Apr 12, 2011
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