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What describes bankruptcy?

a legal declaration that you are unable to repay your debts


Which statement best describes the main cause of the Panic of 1873?

The Panic of 1873 began with the bankruptcy of Jay Cooke and Company.


What statement was best describes the main cause of the panic of 1873?

The Panic of 1873 began with the bankruptcy of Jay Cooke and Company. A+ Learning.


What best describes the debtor's involvement with the bankruptcy judge?

The debtor's involvement with the bankruptcy judge typically involves attending court hearings and presenting their case or responding to questions from the judge or opposing counsel. The debtor may also need to provide documentation or evidence as requested by the judge to support their bankruptcy claims. Overall, the debtor is expected to cooperate and comply with the instructions and decisions of the bankruptcy judge throughout the bankruptcy process.


What is difference between bankruptcy and insolvency?

They are basically the same. Insolvency describes a situation where the debtor is unable to meet his/her obligations. Bankruptcy is a legal maneover in which an insolvent debtor seeks relief. There are two types of individual bankruptcy. Chapter 7 is a "fresh start" in which all debt is forgiven. Chapter 13 is a plan in which debt is settled on the debtors ability to pay (and may be only a fraction of the debt owed).


You owe your sister money can you file bankruptcy on that loan?

If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.


How long bankruptcy after discharged records stays?

1st bankruptcy = 7 years 2nd bankruptcy = 20 years 3rd bankruptcy = life


Which companies offer information on bankruptcy?

Some companies that offer information on bankruptcy include Dow Jones and Jacob Meyers Bankruptcy. You can also find information on bankruptcy on the bankruptcy Wikipedia page.


Is 7-eleven in bankruptcy?

no , ther not in bankruptcy


What is the plural of bankruptcy?

The plural of bankruptcy is bankruptcies.


If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?

The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.


In order to file bankruptcy must you have a bankruptcy attorney?

If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.