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     Bankruptcy can best be described as an inability to pay ones debts. In the ancient Greek culture many years ago, if a citizen could not pay off its debt, the citizen and his family were sold off to slavery for life. Even more severe, were the Mongolians under Genghis Khan, if anyone became bankrupt three times they would be put to death.

Bankruptcy Today

     In the United States, millions of business and consumer bankruptcy cases are being filed every year.Even though a filing may not be a goal in one's life, sometimes this process can be helpful in eliminating bad debts and starting a new financial life free of the burden of unpayable debt. A competent attorney who specializes in bankruptcy in your area or state is an asset in this situation.

The Law and the Court

     In the United States, a common theme of equitable division and rehabilitation has been integrated into our federal bankruptcy laws and the courts. Ensuring the fair division of a debtor's nonexempt assets is

assigned to a court-appointed trustee; a debtor's fresh start is accomplished via a court-ordered "discharge". The discharge releases individual debtors from personal liability for specific debts and bars creditors from ever attempting to collect those debts.

List of Categories for Discussion

     Bankruptcy-Attorney.com has listed, a number of categories that are relevant for discussion in the filing of, and in the understanding of United States bankruptcy law. The categories include the following:

Selecting an Attorney - Finding a competent and knowledgeable attorney is an important aspect in filing for bankruptcy. Attorneys who practice bankruptcy law are listed by state. Bankruptcy Law - Understanding Federal bankruptcy law and the law pertaining to the state that you reside is imperative. The law can be at best, a challenge to you as an individual as well as to your attorney. Our goal is to make this content easy to read for the reader as well as for the attorney. Filing Bankruptcy - Whether you are a business or a consumer, listing your assets and debts can be one of the first steps in preparing for bankruptcy. Knowing these two particulars including the cost and the strategies involved can be a determining factor on whether to file under the law. Business - Are you a small or large business, what chapter should you file, are you a sole proprietor; a partnership; or a corporation, all these questions are imperative for your case. Consumer - In filing for consumer bankruptcy, sometimes called personal bankruptcy, an initial consultation by an attorney would be helpful in determining your assets and debts, or if it is even necessary to file. Types of Bankruptcy - The federal law separates the different types of bankruptcy into Chapters. They include Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13 and Chapter 15. Find out which Chapter is right for you and your financial situation. The Courts - All filings are handled in federal courts and not state courts. Understand the different roles within the bankruptcy court including the Trustee. Debt Advice - Credit card problems, home foreclosure, owe back taxes, being sued, are issues that can be a problem for your life. Finding solutions and good advice can be a challenge.

Relevant Articles

Bankruptcy and Attorneys - What should you know? Cost of Filing Bankruptcy - Court and attorney Fees Can You Run a Business While In Bankruptcy? - A debtor can operate their business, enter into leases, sell property, and possibly reject collective bargaining agreements under Section 365 of the Bankruptcy Code Chapter 11 Attorneys - Qualifications and cost

     In conclusion, there are other important areas of discussion. They include the cost, fraud, alternatives, life after bankruptcy and more. A wise man once said that good decisions are made fromcorrect information. It is a good idea to keep informed and understand the different alternatives and strategies involved before filing.

Website content written by Henry Rendler and Jack Garchar

Please note. The written contents of this Website are offered as general reference only and are not to be relied upon as specific legal advice. For legal advice on a particular matter, please consult a licensed attorney who is knowledgeable and experienced in that area of the law. The act of viewing this Website or communicating with Bankruptcy-Attorney.Com via email or otherwise does not constitute an attorney-client relationship. Any communications via this Website are not subject to attorney-client privilege or client confidentiality.