The main role of the United States bankruptcy court is that its gives people who can no longer pay their creditors a chance to liquidate their assets to pay their debts or by creating a repayment plan.
<h2>What Is Bankruptcy Court?</h2>
In U.S., bankruptcy court refers to a specialized federal courtrooms in the United States. The federal government created the bankruptcy courts to settle all types of personal and corporate bankruptcy cases.
Unlike federal court, which U.S. Constitution established in 1781, the bankruptcy court system did not exist until 1978 when Congress established it as part of the Bankruptcy Reform Act.
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