San Diego bankruptcy lawyersforeclosure - chapter 7 bankruptcy - chapter 13 - chapter 11 - bankruptcy |
| The Law Office of Jonathan W. Braverman, Esq.
| Phone: 760-439-8788 Web: www.bravermanlawoffice.com
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Bankruptcy: a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the bankrupt individual or organization).