Bankruptcy is a process when a lender tries to obtain money from an individual's employer to pay an unpaid debt.

2 answers:

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The answer to this question would be false because when you file for bankruptcy you are not asking to get help to pay your debt you are asking to have it expunged.

____ [38]3 years ago

5 0

Answer:

FALSE

Explanation:

Bankruptcy is a legal situation in which a person or company declares that they have no financial capital to meet their obligations. This is a process that must be authorized by a judge. When bankruptcy is filed, the assets of the company / person filing for bankruptcy are frozen so that they can later be used to pay off part of the company's debts. For example, if a company goes bankrupt and does not pay suppliers and employees. The assets of the bankrupt business owners may be used to pay those who have been injured.

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