Bankruptcy

Bankruptcy is a legal proceeding and process governed and regulated by the Federal Court system of the United States . The purpose of bankruptcy is to give the individual Debtor (whether it be a person or business entity) a fresh start and to relieve the Debtor of financial hardship and difficulty. The bankruptcy process is subject to the provisions of U.S. Bankruptcy Code found under Title 11 of the U.S. Code and the Bankruptcy Rules. There have been significant changes since the Bankruptcy Reform Act of 2005 has been enacted.