Introduction to the bankruptcy

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					Introduction To
The Bankruptcy
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.
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 debtor’s property
     under the control of the court
     and it is equally distributed
     among all creditors.
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” don’t always prevail. You
    can consult with bankruptcy
    attorney nc.
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.
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.
   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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Description: In this PPT we describe the bankruptcy and goal of it. We also describe the benefit of the bankruptcy and protection right of it.