{"id":286949,"date":"2016-04-04T10:41:53","date_gmt":"2016-04-04T15:41:53","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/bankruptcy\/what-is-bankruptcy.html"},"modified":"2025-03-18T13:48:08","modified_gmt":"2025-03-18T18:48:08","slug":"what-is-bankruptcy","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/what-is-bankruptcy.html","title":{"rendered":"What Is Bankruptcy?"},"content":{"rendered":"\n
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\n \n What Is Bankruptcy?\n <\/h1>\n \n Bankruptcy offers a path to relief from overwhelming debt.\n <\/p>\n <\/div>\n<\/div>\n\n\n
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\n By Linda Sanabria, J.D.<\/a> | Legally reviewed by Susan Mills Richmond, Esq.<\/a>\n | Last reviewed\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n\n

Bankruptcy offers a path to relief and much-needed debt management. For people facing financial difficulties, bankruptcy can be a key decision. It is a court-supervised process where a person legally declares themselves unable to pay outstanding debts. Continue reading to uncover more about bankruptcy and how it works.<\/p>\n\n\n\n\n \n \n \n \n Useful Bankruptcy Topics\n \n <\/i>\n <\/span>\n <\/button>\n <\/h2>\n \n