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Return To Bankruptcy FAQ Archive   What is bankruptcy? Answered By Editor Bankruptcy is when you file for protection from your creditors. The two most common types of bankruptcy are as follows: 1) Chapter 7 in which you lose most of your property, and 2) Chapter 13 in which you are allowed to reorganize your finances in a way that you can keep your property and write off debts that are unsecured. keywords: Bankruptcy | Bankrupt | Creditors | Debt | Debt Relief | Debt Relief | Chapter 7 | Chapter 13 Chapter 11 Bankruptcy Filing

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