Bankruptcy. For those who have only heard the word without more, it can mean many things.
Some equate it with poverty. Others think of it as a fresh start. The truth is that many people don’t fully know what bankruptcy is all about. Yet more than 1.2 million Americans filed for bankruptcy in 2012, according to the federal court system.
Whether it’s affecting you, a friend, or a loved one, here are three things to know about bankruptcy:
To learn more about bankruptcy, check out FindLaw’s Bankruptcy section and download our free Guide to Chapter 7 Bankruptcy.
Disclosure: LegalStreet and FindLaw.com are owned by the same company.
Related Resources:
- Bankruptcy’s Long-Term Effects On Your Credit (FindLaw’s Law and Daily Life)
- Is Chapter 7 Bankruptcy Right for You? (FindLaw’s Law and Daily Life)
- 5 Tips to Consolidate Student Loans (FindLaw’s Law and Daily Life)
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