Bankruptcy is a legal way to get rid of most of your current debt, stop harassment from creditors, and start fresh.
It is a federal court procedure. You will file documents with the bankruptcy court and wait for their approval. Then, you will either have debts dismissed or agree to a repayment plan.
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Facing Debt? Start With the Right Information.
Learn about the different bankruptcy chapters and what to expect before making your decision.
Pursue Debt Relief Instead of Bankruptcy
You may be able to use informal debt relief actions. These typically include negotiating with creditors or lenders and reaching a non-bankruptcy "debt workout" agreement.