What are the Bankruptcy Laws?

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What are the bankruptcy laws? This is a very good question. Bankruptcy laws can be complex and difficult to answer. The reason you have bankruptcy laws to begin with is that they originated in the bankruptcy courts by bankruptcy attorneys. Bankruptcy laws can be both in the consumers benefit and the creditors benefit. It mainly depends on what kind of bankruptcy you are filing because they all differ with their bankruptcy laws.

The best way to answer the question,”What are the bankruptcy laws?” is to understand what a bankruptcy is. A bankruptcy is when you, the consumer, go to the courts to get help with your debts. You are tired of the harassing calls and letters that you that you are receiving and you want legal help. Getting this legal help will require you to seek the advice of a bankruptcy attorney about the bankruptcy laws and what you can legally do to file a bankruptcy to get the creditors to stop with their harassment.

The legal definition to “What are the bankruptcy laws?” is  that bankruptcy is a federal system of statutes and courts which allows the consumer that has debts to place these debts under the control of the bankruptcy courts. Since there is more than one kind of bankruptcy that you can file in the bankruptcy courts, there are different and multiple laws that go with each particular kind of bankruptcy.

Bankruptcy laws allow the courts to supervise in the division of your assets and payments to the creditors monthly. Again, this will be determined on which bankruptcy you filed.

Remember to always seek the advice of a legal counsel such as a bankruptcy attorney before you actually file for bankruptcy. Here are some links that may help you;

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Good luck. Until next time,

Janna Jones

One Response to “What are the Bankruptcy Laws?”

  1. Rami says:

    Between me and my husband we’ve had over 20,000 in debt and had to use a company to get out of it. We made sure it was legitimate through use of the BBB lookup.

Leave a Reply to Rami