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  • Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the bankrupt individual or organization).

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Blogs for Bankruptcy

Legal Helpers.com Bankruptcy Lawyers

LegalHelpers.com Bankruptcy Blog. Perspectives From The Nation's Largest Consumer Law Firm ... The Bankruptcy Blog from LegalHelpers.com is produced from the ...blog.legalhelpers.com/

Bankruptcy Information Blog :: Main Page

Bankruptcy Blog - Bankruptcy Information for consumers from atorneys ... New York Bankruptcy and Consumer Law Blog. Debt Podcast. Bankruptcy News ...www.bkblog.net/

Tampa Bankruptcy blog

... informative post on his Cleveland Bankruptcy Law blog entitled " ... Blog. Causes of bankruptcy. Chapter 13. Chapter 7. Discharge issues. Foreclosure issues ...www.tampabankruptcyblog.com/

Bankruptcy Blog from Los Angeles Attorney

Bankruptcy Law Network - Very informative collection of articles and blogs ... Bankruptcy Soapbox - Moran Law's wonderful blog site ...www.bklaw.com/bankruptcy-blog/

Birmingham Bankruptcy Blog

Bankruptcy & Debtor's Court: The difference between Chapter 7 ... ABI's BAPCPA Blog. Alabama Consumer. Alabama Consumer Law Blog. American Bankruptcy Institute ...www.birminghambankruptcyblog.com/

Wikipedia About Bankruptcy

Bankrupt%20computer%20store%2002.jpg

  • Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the bankrupt individual or organization).

The West

In ancient Greece, bankruptcy did not exist. If a father owed (since only locally born adult males could be citizens, it was fathers who were legal owners of property) and he could not pay, his entire family of wife, children and servants were forced into "debt slavery", until the creditor recouped losses via their physical labor. Many city-states in ancient Greece limited debt slavery to a period of five years and debt slaves had protection of life and limb, which regular slaves did not enjoy. However, servants of the debtor could be retained beyond that deadline by the creditor and were often forced to serve their new lord for a lifetime, usually under significantly harsher conditions.

The word bankruptcy is formed from the ancient Latin bancus (a bench or table), and ruptus (broken). A "bank" originally referred to a bench, which the first bankers had in the public places, in markets, fairs, etc. on which they tolled their money, wrote their bills of exchange, etc. Hence, when a banker failed, he broke his bank, to advertise to the public that the person to whom the bank belonged was no longer in a condition to continue his business. As this practice was very frequent in Italy, it is said the term bankrupt is derived from the Italian banco rotto, broken bank (see e.g. Ponte Vecchio). Others choose rather to derive the word from the French banque, "table", and route, "vestigium, trace", by metaphor from the sign left in the ground, of a table once fastened to it and now gone. On this principle they trace the origin of bankrupts from the ancient Roman mensarii or argentarii, who had their tabernae or mensae in certain public places; and who, when they fled, or made off with the money that had been entrusted to them, left only the sign or shadow of their former station behind them.

Philip II of Spain had to declare four state bankruptcies in 1557, 1560, 1575 and 1596. Spain became the first sovereign nation in history to declare bankruptcy.

The characteristic discharge of debts was introduced to Anglo-American bankruptcy with the statute of 4 Anne ch. 17 in 1705, where the discharge of unpayable debts was offered as a reward to bankrupts who cooperated in the gathering of assets to pay what could be paid.

Search results for Bankruptcy

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What is Bankruptcy? Bankruptcy is a legal proceeding in which people who ... In most cases, filing bankruptcy immediately stops all of your creditors from ...www.nwls.org/Bankruptcy.htm

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General information such as office hours, filing of documents, fees, calendars, ... Appeals From Bankruptcy Court. Instructions Regarding Appeals. Appeal Forms ...www.rib.uscourts.gov/

Bankruptcy - Legal Information Institute

Overview of bankruptcy law with extensive Federal and State reference information. From Cornell University Law School.topics.law.cornell.edu/wex/bankruptcy

Total Bankruptcy

Offers bankruptcy articles and information and a directory of law firms offering bankruptcy help.www.totalbankruptcy.com/

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News about Bankruptcy

Creditors drop opposition to Chrysler bankruptcy plan

AFP via Yahoo! NewsChrysler's efforts to restructure under the watchful eye of a bankruptcy judge picked up momentum Friday after a group of creditors dropped their objections.http://news.yahoo.com/s/afp/20090508/ts_afp/usautocompanychr...

Frontier seeks to extend bankruptcy plan deadline

AP via Yahoo! NewsFrontier Airlines is asking for more time to propose its bankruptcy reorganization plan.http://news.yahoo.com/s/ap/20090508/ap_on_bi_ge/us_frontier_...

GM CEO says bankruptcy probable but not preferred

Pioneer PressIn a conference call with reporters, Henderson said GM is working on two parallel plans: one that involves bankruptcy and one that doesn't.http://www.twincities.com/sports/ci_12164437?source=rss

Holdouts drop opposition to Chrysler bankruptcy plan

AFP via Yahoo! NewsA group of lenders to troubled automaker Chrysler withdrew their court challenge Friday against a government-backed bankruptcy restructuring plan for the auto giant, their lawyer said.http://news.yahoo.com/s/afp/20090508/bs_afp/usautocompanychr...

Chrysler bankruptcy creates lemon law turmoil

Los Angeles TimesBuyers of defective cars see settlement checks bounce and complaints stymied. To get their refunds, Bankruptcy Court must approve. Chrysler says it's not a priority. Chrysler's bankruptcy is throwing a wrench into California's lemon law, which is intended to make it easier for consumers to get refunds for defective vehicles. As the automaker's bankruptcy grinds away, settlement checks from ...http://www.latimes.com/business/la-fi-lemonlaw9-2009may09,0,...

News about Bankruptcy

Fiat’s Bid for Opel ‘More Advanced’ Than Rival’s, Official ...

BloombergDetroit-based GM , surviving on U.S. government loans, is reorganizing to avert a potential June 1 bankruptcy. German government officials are taking part in the talks with Opel suitors because the Ruesselsheim, Germany-based unit is seeking 3.3 ... http://www.bloomberg.com/apps/news?pid=20601103&sid=aB.uGSGW...

Commentary: General Motors can't avoid talk of bankruptcy

Detroit NewsNow General Motors Corp., the company that for so long officially refused to utter the "B" word, can't stop saying it. Bankruptcy is affecting sales, Chief Financial Officer Ray Young acknowledged Thursday, even as he detailed the grim realities ... http://detnews.com/article/20090508/OPINION03/905080339/Comm...

The Chrysler Bankruptcy

New York TimesWhen President Obama outlined his plan to restructure Chrysler under bankruptcy-court protection, we shared his view that keeping a company “afloat on an endless supply of tax dollars” was no solution to the cratering of even iconic American ... http://www.nytimes.com/2009/05/01/opinion/01fri1.html?em

Riviera Holdings reports narrower loss for 1Q

MSN MoneyCentralRiviera, which has defaulted on its credit agreements, is working to refinance or restructure its debt, but has said Chapter 11 bankruptcy protection may be necessary. On Friday, the Las Vegas-based company expressed confidence that it will maintain ... http://news.moneycentral.msn.com/provider/providerarticle.as...

Pain and gain await Chrysler in bankruptcy court

Detroit NewsThe "very quick type of bankruptcy" President Barack Obama promises for Chrysler LLC may be quick, but it will only be partial -- and certainly not painless. Bankruptcy experts said Thursday that while some Chrysler assets could be sold in 30-60 days ... http://www.detnews.com/article/20090501/AUTO01/905010357

Search results for Bankruptcy

Bankruptcy Lawyers & Bankruptcy Information, Legal Helpers Attorneys

Bankruptcy Information, Chapter 7 & Chapter 13 Bankruptcy Filings. Call 800-290-1000 Legal Helpers, the largest personal bankruptcy law firm in the U.S.http://www.legalhelpers.com/

Bankruptcy

Any bankrupty chapter is not something that should be taken lightly. With a plan you can avoid it or at least make it less painful no matter what district your in.http://www.bankruptcy.vc/

Bankruptcy.org

Money Management International offers an all-in-one bankruptcy solution for you and your clients. Pre-Filing Counseling and Pre-Discharge Educationhttp://www.bankruptcy.org/

Bankruptcy Information; Filing Bankruptcy; Bankruptcy Lawyers.

Comprehensive bankruptcy information for all states; FAQ's, Eligibility to file Chapter 7, Bankruptcy exemptions, Bankruptcy lawyers listing.http://www.bankruptcyaction.com/

Bankruptcy | LII / Legal Information Institute

bankruptcy: an overview. Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division ... http://topics.law.cornell.edu/wex/Bankruptcy

Wikipedia results for Bankruptcy

Bankruptcy - Wikipedia, the free encyclopedia

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ... http://en.wikipedia.org/wiki/Bankruptcy

Bankruptcy in the United States - Wikipedia, the free encyclopedia

Bankruptcy in the United States is permitted by the United States Constitution (Article 1, Section 8, Clause 4) which authorizes Congress to enact "uniform Laws on the subject of ... http://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States

Bankruptcy Abuse Prevention and Consumer Protection Act - Wikipedia ...

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) (Pub.L. 109-8, 119 Stat. 23, enacted April 20, 2005), was a law enacting several significant changes ... http://en.wikipedia.org/wiki/Bankruptcy_Reform_Act

Bankruptcy in Canada - Wikipedia, the free encyclopedia

The procedures and legal consequences of consumer bankruptcy in Canada are governed by Canadian federal legislation.http://en.wikipedia.org/wiki/Bankruptcy_in_Canada

Bankruptcy of Lehman Brothers - Wikipedia, the free encyclopedia

Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. The bankruptcy of Lehman Brothers is the largest bankruptcy filing in U.S. history with Lehman ... http://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers
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Videos found for Bankruptcy

U.S. Delays Finance Plan; GM May Fa...

U.S. Delays Finance Plan; GM May Face Forced BankruptcyJane King summarizes the top stories this morning on the Bloomberg Business Report. (Source: Bloomberg)Windows Media - Video

Baugur bankruptcy

Baugur bankruptcyOne of Iceland's biggest groups, Baugur has filed for bankruptcy as CNN's Jim Boulden reports.Windows Media - Video

US Government Immorality Will Lead ...

US Government Immorality Will Lead to BankruptcyThe Comptroller General of the United States proclaims that our current standard of living is unsustainable unless drastic action is taken. He warns that funding shortfalls for...Flash - Video

Bankruptcies on the Horizon

Bankruptcies on the HorizonCharter Communications is preparing to file for bankruptcy, according to Reuters, with CNBC's David FaberFlash - Video

How Will Vick's Bankruptcy Affect F...

How Will Vick's Bankruptcy Affect FalconsMichael Vick owes the Falcons $3.75 million in bonuses. This might force teams to rewrite contracts from now on.Flash - Video

Answers for Bankruptcy

come_on_kiss_the_gunBankruptcy?come_on_kiss_the_gunThe new law is much more complicated than before. It was designed to deter people from walking away from their debts. If you are facing personal bankruptcy then there are two chapters which might appl...Jason HWhat effects does bankruptcy have on someone for the rest of their life?Jason HWell, the first thing to be concerned with is whether any of your property is going to be seized for sale at auction during the liquidation process, but seeing as how most people filing for BK these d...AlBundyFilling Bankruptcy and need to purchase a vehicle in which I intend to keep?AlBundyGenerally the courts expect you to have transportation so you can get back and forth to work. They won't expect you to have anything extravagant. I'd suggest scheduling a consult with a bankru...just_wonderingHow does Bankruptcy work if you are married?just_wonderingIt will because they look at BOTH incomes and now that the bankruptcy laws have become more strict, it is even harder to file for bankruptcy. you can try these sites: www.bankruptcyaction.com www.l...aikon56What is the difference between Bankruptcy and Bankruptcy Protection that I hear in the news recently?aikon56They are the same thing. Bankruptcy protection is basically a term used because once you file for bankruptcy, your creditors are not allowed to contact you or try to collect anymore. Please consult a...
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