Questions about Bankruptcy

What exactly is bankruptcy? Are there things you should know? What happens during Bankruptcy? Are there Exemptions and what are they? Is there Payments due during bankruptcy? How does Discharge during bankruptcy work? How the trustee is paid?

Bankruptcy: is the legal way to be free of the majority of your debts. Bankruptcy allows honest persons who have dealt with unfortunate circumstances a lawful way to start over.

For other definitions please see our Glossary.