Bankruptcy in the United States

Bankruptcy in the United States come under the Chapter 11 and Chapter 7 with the United States Bankruptcy Court presented with the authority to declare an entity as bankrupt. It emerges when a business entity is unable to meet the amount due from them to the creditors or where the net assets are negative. Neither the amount of cash reserves with the corporation nor the sale of a hardly any assets can offer respite from the burden of debt. More information: franklin loan services