Personal Bankruptcy In The USA

Despite the highly developed economy, bankruptcy in America is a common phenomenon. The presidential administration spends a trillion dollars annually on all types of social benefits. Almost half of these funds are spent on debt repayment. The citizen himself can apply to 개인 파산 변호사.

The criminal law and Bankruptcy Code regulate the bankruptcy procedure. Both documents state that the debtor is responsible for deceiving the creditor; therefore he may lose all his property.

In the United States, a bankrupt is an individual who is recognized as a special court dealing with such cases. The fact of bankruptcy can be recognized and established in case of legal insolvency. After the recognition of bankruptcy, a person gets the opportunity to live in a new way, without obligations and debt.

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