4 things you should know about the bankruptcy court system
The bankruptcy court system is a complex and daunting process that can leave many people feeling overwhelmed. Understanding the basics of how it works can help set you up for success if you're considering filing for bankruptcy, so here are 4 things you should know about the bankruptcy court system.
First, it's important to understand that there are both federal and state laws governing the bankruptcy process. This means that while there may be some similarities between states in terms of how they handle bankruptcies, there are also key differences between them as well. It's wise to research what your particular state requires when filing for bankruptcy prior to beginning the process.
Second, filing for bankruptcy must be done through a court-appointed trustee who will oversee your case and ensure all applicable laws and regulations are being followed.
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