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What does it mean to file for bankruptcy?

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asked Jul 30, 2012 in Bankruptcy by anonymous
   

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You have the right under federal law to file for bankruptcy relief from your creditors. Bankruptcy is a legal proceeding in which a person can get a fresh financial start. Bankruptcy can be very useful and effective in resolving financial problems in certain cases.you should always wait as long as possible before filing bankruptcy because you can do so only once every six years. In most cases, you will want to save this valuable option until you really need it and when you do so ou have nothing the creditors can take from you. You can't be put in jail for failing to pay your civil debts
answered Nov 21, 2013 by answerwiz Inquisitive Expert (94,860 points)

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