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What is Bankruptcy
Manage episode 454001852 series 3602995
Indhold leveret af Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
This episode we explain bankruptcy, a legal process for individuals and businesses unable to repay debts. It details the two main types of bankruptcy in the UK, Chapter 7 (liquidation) and Chapter 13 (reorganisation), outlining their requirements and processes. The article also covers the benefits of bankruptcy, such as debt relief and creditor protection, and the steps involved, including credit counselling and a meeting of creditors. Finally, it emphasises seeking professional advice before filing for bankruptcy.
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