Introduction to the bankruptcy

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Introduction To The Bankruptcy
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What is bankruptcy

• Bankruptcy is the federal court process that can
  help you to eliminate legal responsibility for
  many of your debts or repay them under protection
  of bankruptcy court. This law offer people in
  serious debt a way to financial fresh start. It
  is the last report that have long term nagative
  impact. Bankruptcy is the constitutional right in
  the US. Constitutional belived that people
  belived that financial distress should have able
  to have the frest start.

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Bankruptcy Has Two Goal

• In the modern day bankruptcy code is designed to
  relieve the honest but unfortunate debtor of its
  indebtedness so that the debtor can make an
  economic fresh start.
• Bankruptcy code is designed to base all of the
  debtors property under the control of the court
  and it is equally distributed among all creditors.

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Bankruptcy Court Is The Court Of Equity

• Apart from other court this bankruptcy court is
  not the court of law but court of equity. In the
  court of equity the right dont always prevail.
  You can consult with bankruptcy attorney nc.

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Benefits Of Bankruptcy

• A collective process reduce the cost associated
  monitoring the debtor to protect creditor from
  race to the courthouse.
• Interested parites are benefited by
  administrative efficiencies.
• A collective process is likely to increase the
  aggregate pool of asset by prohibiting
  liquidition of debtor asset.

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Bankruptcy Protection Right

• The protection of the bankruptcy is not the
  fundamental right. There is no constitutional
  right to obtain a
• discharge of one's debts in
• bankruptcy. Who qualify then it became the
  statutory right.

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Contact Us

• 1200 East Morehead, Suite 140
• Charlotte,
• NC 28204
• T 704-461-1883
• F 704-233-3715
• http//www.maxwelllegal.com

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