New Bankruptcy Procedures – What You Need To Know

Currently, whenever an individual gets declared bankrupt, whether through a petition submitted by a creditor or on their own petition, it is a requirement that the Court determine whether a Bankruptcy Order is needed. In 2015, for example, the total number of petitions presented was 15,797 petitions, quite a huge number. The goal and intention of the new bankruptcy procedure is to cut down the Court’s workload and cost. A

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