Bankruptcy and Divorce

Definition
Types of bankruptcy
Process of investigating bankruptcy
Preventive measures for bankruptcy
Divorce bankruptcy
Prenuptial agreement
Bankruptcy is a legal process through which individuals or businesses that are unable to repay
their debts can seek relief from their financial obligations.
The primary goal of bankruptcy is to offer a fresh start to debtors who are overwhelmed by debt
and have no feasible way of repaying it.
Types of bankruptcy
Personal Bankruptcy
◦ a. Chapter 7 Bankruptcy
◦ b. Chapter 13 Bankruptcy
◦ c. Chapter 11 Bankruptcy
◦ d. Chapter 12 Bankruptcy

Business Bankruptcy
◦ a. Chapter 7 Bankruptcy
◦ b. Chapter 11 Bankruptcy
◦ c. Chapter 13 Bankruptcy
How to investigate bankruptcy
Research Public Records
Analyze Bankruptcy Petition
Examine Schedules and Statements
Review Creditor Lists
Check Court Filings
Research Court Decisions
Seek Expert Opinions
Interview Parties Involved
Review News and Media Coverage
Consider Legal Implications
Preventive measures for bankruptcy
Budgeting and Financial Planning
Emergency Fund
Debt Management
Diversify Income Sources
Insurance Coverage
Financial Education
Open Communication
Regularly Monitor Finances
Avoid Risky Investments
Professional Advice
Legal Assistance
Bankruptcy Procedurce
Assessment of Financial Situation
filing Bankruptcy Petition
Automatic Stay
Creditors' Meeting
Asset Evaluation
Repayment Plan (Chapter 13)
Creditors' Claims
Debt Discharge (Chapter 7)
Completion of Repayment Plan (Chapter 13)
Bankruptcy Discharge
Case study
Silicon Valley Case study
Divorce
Divorce fraud refers to dishonest or deceitful actions taken by one or both spouses to manipulate the divorce
process for personal gain.
Concealing Assets
False Financial Disclosures
Collusion
Marriage Fraud
Asset Transfers
Hidden Income
False Domestic Violence Accusations
Parental Alienation
False Child Custody Claims