Bankruptcy: What Is It And What Do The Chapters Mean?
Posted October 27, 2010 – 9:48 am in: Debt ConsolidationBankruptcy in the United States is a constitutionally (Article 1 Section 8, Clause 4 to be exact) approved way for business entities and individuals to settle big amounts of debt. Congress is in charge of making the bankruptcy laws. The most recent change was an amendment to existing laws through the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. For other laws relevant to bankruptcy, turn to the United States Code.
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