About Bankruptcy

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Can Anyone File for Bankruptcy?....5

Bankruptcy is a legal proceeding that takes place in the federal bankruptcy court, in order to have your financial conditions considered and a payment plan established. Contact a bankruptcy lawyer to discuss whether filing for bankruptcy is the best option with help from a family lawyer in this free video on bankruptcy.

Part of the Video Series: Bankruptcy Questions
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Video Transcript

You like many other Americans have recently found that you have more debts than you have the ability to pay, in other words, you run out of money long before you run out of the month. So, you've heard such things about filing bankruptcy and eliminating these debts and you want to know something about bankruptcy. Hello, I'm Robert Todd and I'm here to discuss what is bankruptcy. Well bankruptcy is a legal proceeding in the federal bankruptcy court that is specifically provided for by the federal bankruptcy act that allows you to have your financial condition considered and determined what debts you can pay and when you can pay them and basically establish a plan for payment. It's not really a vehicle or proceeding whereby you simply just eliminate all of your debts. If you have a question regarding bankruptcy, we would strongly recommend that you consult an attorney that specializes in bankruptcy law. I'm Robert Todd, and thank you for watching.


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