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It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.

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12y ago

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Related Questions

Can you work after you declare bankruptcy?

Yes, you are not required to be unemployed to declare bankruptcy.


Did the US declare bankruptcy?

No


Is it possible to just declare bankruptcy on credit cards?

You can declare bankruptcy due to credit card debts, yes.


How often can you declare Chapter 7 bankruptcy?

You can declare Chapter 7 bankruptcy once every 8 years.


How long after the first bankruptcy you can declare a second bankruptcy?

It takes seven to ten years after you initially declare bankruptcy for it to drop off your credit report, and you really should wait at least 1-2 years after that to declare again I hope that helped.


Did Iceland declare bankruptcy?

wanna do city


Can an elected official declare bankruptcy?

Yes


When did the United States declare bankruptcy?

In 1933


Who should be aloud to declare bankruptcy?

he goverment


Can you just declare bankruptcy on your home?

No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.


How do you get bankrupcy off credit report?

If you didn't actually declare bankruptcy, you can report the error to the credit bureaus. If you did declare bankruptcy, you'll have to wait for it to age off.


What is the process on how to declare bankruptcy?

First consult a lawyer for which bankruptcy chapter you qualify for and let him/her assist you with the bankruptcy procedures as bankruptcy procedures are not the same in every case. Chapter 7 and Chapter 13 bankruptcies are the most common. For more information, visit these websites: http://howtodeclarebankruptcy.net/ and filepersonalbankruptcy.org/how-to-declare-bankruptcy/.

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