The word "bankruptcy" itself holds a stigma in the world today. A number of reasons exist for this stigma. Most believe it is a morally inexcusable thing to do; that a person's word requires them to pay their debts. Indeed, that a person's word is their bond. Further,...

In a nutshell, bankruptcy is the state in which a person or organization cannot repay the debts owed to others. Originally, bankruptcy law was the idea that the government could step in and confiscate all the property of a person and even jail the person so that all...