Facts About Personal Bankruptcy

What You Don't Know About Personal Bankruptcy Can Be Very Expensive

Seeking personal bankruptcy or personal bankruptcy alternatives information can be confusing, intimidating and downright scary at times. If you are seeking easy to understand information about personal bankruptcy, you have come to the right place!

There is a lot of information on this site that is well organized and easy to read and understand. We recommend starting with Bankruptcy Information, Avoid Bankruptcy, Filing Bankruptcy , Bankruptcy Terminology and the Bankruptcy FAQ.

Important- How to Use This Site

We have attempted to logically organize our site so that you can easily focus on the information that is most important to you. The Navigation Menu in the left panel of the site is always visible. Key sections of information are contained here.Also, the top of every page has a breadcrump trail that shows you where you are in the website. You can always backup one or more pages by using the breadcrumb trail. 

The Bankruptcy Information section contains a great deal of background information, and concentrates on Chapter 7 and Chapter 13 bankruptcy. These are the most relevant for most people seeking personal bankruptcy information.

Other topics are included that will be important to people who may be seeking to file for bankruptcy including instructions on how to file, evaluating attorneys and locating the closes bankruptcy court. A Product and Reviews section is also included where we evaluate information products that provide bankruptcy education.

A Bankruptcy Terminology page is provided to serve as a reference for much of the legal jargon associated with bankruptcy. A Frequently Asked Questions page is also included.

Again, the top of every page on the site contains a breadcrumb trail which shows you how you arrived at the page you are currently viewing. If you want to re-trace your steps, simply click on one of the preceding hyperlinks to get back to where you were.

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The United States Constitution and Bankruptcy

This site provides information on bankruptcy in the United States only. The federal government provides a tool for consumers and business to seek protection when they are financially distressed. This tool is called bankruptcy, and is defined as: A proceeding in federal court where a debtor is relieved of liability and the insolvent debtor's assets are liquidated.

Article I, Section 8, of the United States Constitution authorizes Congress to enact "uniform Laws on the subject of Bankruptcies." Under the grant of authority, Congress enacted the "Bankruptcy Code" in 1978. The Code, which is codified as title 11 of the United States Code, has been amended several times since its enactment. It is the uniform federal law that governs all bankruptcy cases.

Under this code there are five types bankruptcy cases:

• Chapter 7: Liquidation
• Chapter 13: Adjustment of Debts of an Individual with Regular Income
• Chapter 11: Reorganization
• Chapter 12: Adjustment of Debts of a Family Farmer
• Chapter 9: Adjustment of Debts of a Municipality

If you are a consumer seeking information on personal bankruptcy you have come to the right place. We suggest that you concentrate your research on Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.

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