explain like I'm five Y show images comments What happens when you file for bankruptcy? 900 submitted 6 years ago by 210 comments source share save hide give award report crosspost hide all child comments cop 100 comments show all 210 navigate by corted by top O565 points6 years ago - Bankruptcy lawyer here I'll try to keep this on a five year old level The first thing that happens is something called the automatic stay goes into effect This means that nobody to whom you owe money may try to collect that money Many of my clients state that the relief this provides from the stress of collection calls is the greatest benefit of bankruptcy As ANewMachine6 15 pointed out there are two common types of personal bankruptcy although some individuals file under other Chag certain circumstances By the way they are called Chapters because the rules governing are Barknugtcy Code Laws Chapter 13 etc found in Chapte Meme

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found ON 2019-10-21 10:06:40 BY loveforquotes.com

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