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Bankruptcy Options

About personal bankruptcy & bankruptcy for business

Bankruptcy offers debtors a tool to restructure and pay off their debts over time. Originally created to serve the interests of creditors, bankruptcies in the United Sates now are almost always initiated by debtors and offer individuals and businesses a way out of debt. Although most Americans owe creditors some amount of money, bankruptcy is reserved for individuals and businesses who have a significant amount of debt they are unable to repay and is not the right option for all debtors. Bankruptcies are usually the result of significant and systematic financial difficulties and should not be seen as financial failure. Bankruptcies were designed to be a second chance for debtors and specific exist to suite most individuals’ bankruptcy needs.